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<SEC-DOCUMENT>0000893220-07-000911.txt : 20070323
<SEC-HEADER>0000893220-07-000911.hdr.sgml : 20070323
<ACCEPTANCE-DATETIME>20070323163341
ACCESSION NUMBER:		0000893220-07-000911
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070323
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20070323
DATE AS OF CHANGE:		20070323

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARTESIAN RESOURCES CORP
		CENTRAL INDEX KEY:			0000863110
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER SUPPLY [4941]
		IRS NUMBER:				510002090
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-18516
		FILM NUMBER:		07715576

	BUSINESS ADDRESS:	
		STREET 1:		664 CHURCHMANS RD
		CITY:			NEWARK
		STATE:			DE
		ZIP:			19702
		BUSINESS PHONE:		3024536900

	MAIL ADDRESS:	
		STREET 1:		664 CHURCHMANS RD
		CITY:			NEWARK
		STATE:			DE
		ZIP:			19702
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>w32456e8vk.htm
<DESCRIPTION>ARTESIAN RESOURCES CORPORATION 8-K
<TEXT>
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<TITLE>e8vk</TITLE>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>






<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Date of Report (Date of earliest event reported): March&nbsp;23, 2007
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B><FONT style="border-bottom: 1px solid #000000">ARTESIAN RESOURCES CORPORATION</FONT></B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
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    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD align="center" valign="top">Delaware
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">000-18516
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">51-0002090</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of <BR>
incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission<BR>
File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
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<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">664 Churchmans Road, Newark, Delaware
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">19702</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Registrant&#146;s telephone number, including area code: <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302-453-6900&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Not Applicable<BR>
<DIV style="margin-top: 1px"><FONT style="border-top: 1px solid #000000">(Former name or former address, if changed since last report.)</FONT></DIV></DIV>

<!-- &nbsp; -->
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</TD>
</TR>

</TABLE>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">








<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;8 &#151; Other Events</B>
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;8.01</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Other Events.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On March&nbsp;23, 2007, Artesian Utility Development, Inc. (&#147;Artesian Utility&#148;), a non-regulated
subsidiary of Artesian Resources Corporation (&#147;Artesian Resources&#148;), entered an agreement on the
terms of acquisition of all rights, titles and interest in operations contracts of TMH
Environmental Services, Inc. (&#147;TMH&#148;). TMH, incorporated in Pennsylvania, is currently providing
contract water and wastewater operation services to 23 private, municipal and governmental
institutions in the southeastern part of Pennsylvania (the &#147;Contract Parties&#148;). The agreement
also includes provisions for the employment of Mr.&nbsp;Horrex, the sole proprietor of TMH. The
purchase is subject to a number of conditions, including the completion of Artesian Utility&#146;s due
diligence, execution of a definitive agreement and approvals by appropriate state regulatory
agencies and the Contract Parties to the extent necessary. If the conditions are satisfied,
Artesian Utility expects that the acquisition will be completed in 2007. Artesian Utility expects
the acquisition of these contracts to be immediately accretive to earnings.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Two of Artesian Resources&#146; subsidiaries, Artesian Wastewater Management, Inc. and Artesian Utility
Development, Inc. are increasingly important to Artesian Resources&#146; growth. Artesian Wastewater
functions as a regulated public wastewater utility and Artesian Utility designs, builds and
operates water and wastewater facilities and infrastructure. Artesian Wastewater added over 2,000
acres of new wastewater franchise area and began operating four new wastewater facilities in 2006,
which will serve more than 2,300 homes. In addition, Artesian Wastewater is currently designing
and constructing twelve new facilities to serve more than 2,500 homes. Artesian Utility operates a
2.5&nbsp;million gallon per day and 250,000 gallon per day wastewater treatment and spray irrigation
facility for a municipality in Delaware under a 20&nbsp;year agreement. In addition, Artesian Utility
is developing plans for three regional wastewater treatment systems that will be capable of serving
up to 27,800 homes in Sussex County.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Statements in this report which express Artesian Resources&#146; &#147;belief&#148; or &#147;expectation&#148; are not
historical facts and are forward-looking statements within the meaning of Section&nbsp;21E of the
Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements
regarding the timing of completion of the acquisition, the expectation that the acquisition will be
immediately accretive to our earnings, the ability of the four new systems to serve more than 2,300
homes and the capability of the regional wastewater facilities to serve up to 27,800 homes.
Forward-looking statements are based on Artesian Resources&#146; current expectation or forecasts of
future events. These statements involve risks and uncertainties that could cause actual results to
differ materially from those projected, including whether or
not the closing conditions will be satisfied, whether the parties can agree to definitive documents
and receive regulatory approvals, and certain other risks under the heading &#147;Risk Factors&#148;
commencing on page 7 of Artesian Resources&#146; Annual Report on Form 10-K for the fiscal year ended
December&nbsp;31, 2006. Given these risks and uncertainties, any or all of the forward-looking
statements may prove to be incorrect. Artesian Resources undertakes no obligation to update
publicly any forward-looking statements.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">ARTESIAN RESOURCES CORPORATION<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date:  March 23, 2007&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ DAVID B. SPACHT
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">David B. Spacht&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Vice President, Chief Financial Officer and Treasurer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>


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