GME Global Marine

RNS Number:2987N
Fairfax I.S. PLC
05 February 2008


Global Marine Energy plc

5th February, 2008


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR
FROM AUSTRALIA, CANADA, JAPAN, THE UNITED STATES, OR ANY OTHER JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE LAWS OF THE RELEVANT
JURISDICTION


FOR IMMEDIATE RELEASE

                             RECOMMENDED CASH OFFER
                                      FOR
                        GLOBAL MARINE ENERGY plc ("GME")
                                       BY
                   EMER INTERNATIONAL GROUP LIMITED ("EMER")


EMER announced on 14th December that its offer document would only be posted on
or shortly after the day 42 days prior to the date of the General Meeting of
EMER to approve the offer; and that it expected to hold the General Meeting by
the third week of March.


Since then, EMER and GME have been working with their advisers to produce the
information required for the circular to convene the EMER General Meeting. This
work has proceeded broadly as planned and EMER continues to expect that the EMER
General Meeting will be held by the third week in March. EMER will not post its
offer document until it has received formal approval from the Hong Kong Stock
Exchange for the circular, thereby ensuring that the EMER General Meeting will
be held as planned within the 42 days. EMER expects to submit a full draft of
this circular to the Hong Kong Stock Exchange by the middle of February
(following the Chinese New Year holiday.)


EMER remains fully committed to its offer for GME. EMER has received irrevocable
undertakings to vote in favour of all resolutions necessary to effect the
acquisition of GME from holders of EMER shares representing more than 50% of the
current issued share capital of EMER.


Contact:

Fairfax I.S. PLC (advisors to EMER)

Omar Bayoumi /Simon Stevens:               +44 (0)20 7598 5368


Fairfax I.S. PLC which is authorised and regulated in the United Kingdom by the
Financial Services Authority for investment business, is acting exclusively for
EMER and for no-one else in relation to the proposed Offer and is not acting for
any other person in relation to the proposed Offer. Fairfax will not be
responsible to anyone other than EMER for providing the protections afforded to
its clients or for providing advice in relation to the proposed Offer, the
contents of this announcement or any offer or arrangement referred in this
announcement.


Dealing disclosure requirements


Under the provisions of Rule 8.3 of the Code, if any person is, or becomes,
"interested" (directly or indirectly) in one per cent or more of any class of
"relevant securities" of GME, all "dealings" in any "relevant securities" of GME
(including by means of an option in respect of, or a derivative referenced to,
any such "relevant securities") must be publicly disclosed by no later than 3.30
p.m. (London time) on the business day following the date of the relevant
transaction. This requirement will continue until the date on which the Offer
becomes, or is declared, unconditional as to acceptance, lapses or is otherwise
withdrawn or on which the "Offer Period" otherwise ends. If two or more persons
act together pursuant to an agreement or understanding, whether formal or
informal, to acquire an "interest" in "relevant securities" of GME they will be
deemed to be a single person for the purpose of Rule 8.3 of the Code.


Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant
securities" of GME by EMER or GME or by any of their respective "associates"
must be disclosed by no later than noon (London time) on the business day
following the date of the relevant transaction.


A disclosure table, giving details of the companies in whose "relevant
securities" "dealings" should be disclosed, and the number of such securities in
issue, can be found on the Panel's website at www.thetakeoverpanel.org.uk.


"Interests in securities" arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an "interest" by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities.


Terms in quotation marks in the preceding paragraphs under the heading "Dealing
disclosure requirements" are defined in the Code, which can also be found on the
Panel's website. If you are in any doubt as to whether or not you are required
to disclose a "dealing" under Rule 8 of the Code, you should consult the Panel.


This announcement is not intended to and does not constitute, or form any part
of, an offer or an invitation to purchase or sell any securities or the
solicitation of an offer to purchase any securities in any jurisdiction pursuant
to the Offer or otherwise.


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

END
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