CHLD Chloride Grp.

    RNS Number : 1635U
  Chloride Group PLC
  12 May 2008
   

    12 May 2008

    CHLORIDE GROUP PLC

    ("Chloride" or the "Company")


    The Board of Chloride notes the recent press speculation and the rise in the Company's share price and confirms that it received a
preliminary approach from a third party regarding a possible cash offer for the Company at 255 pence per Chloride share.  The approach was
subject to a number of conditions and pre-conditions including due diligence.  The Board of Chloride considered the proposal and concluded
that it materially undervalued the Company and its prospects. Accordingly, it was not in the interests of Chloride and its shareholders and
the Board has rejected it.

    As indicated in the Company's recent pre-close trading update, Chloride has a robust business model, clear strategy and strong positions
in geographies and higher growth market sectors (including IT services, data centres, energy and oil & gas) where secure power is
increasingly critical to business continuity.  Accordingly, the Board considers the Company to have excellent prospects as an independent
group.

    This announcement has been made without the consent of the aforementioned third party.


    Enquiries:

 Hudson Sandler       +44 (0)20 7796 4133
 Andrew Hayes
 Kate Hough

 Dresdner Kleinwort   +44 (0)20 7623 8000
 Chris Treneman
 Keith Welch



    Dresdner Kleinwort Limited, which is authorised and regulated by the Financial Services Authority, is acting for Chloride Group PLC and
for no-one else in connection with any potential offer and will not be responsible to anyone other than Chloride Group PLC for providing the
protections afforded to customers of Dresdner Kleinwort Limited or for affording advice in relation to any potential offer.

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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