Hi there.
Very nice, and a pretty good find at £8 of a standard example of an Okra weight. Worth about £25 these days (prices for standard Okra have levelled off recently, with plenty of new standard weights on sale on ebay. Or could fetch a bit more for a weight that old. More specialist examples of limited editions are still fetching up to £250.
I don't know the particular artist. The initials are more likely to be an abbreviation of the studio name for this weight design.
Cheers
Keith