Statement re Possible Offer

    RNS Number : 1853U
  Emerson Electric Co
  12 May 2008
   

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

    12 May 2008
    Emerson Electric Co. ("Emerson") - Statement re possible offer
    for Chloride Group plc ("Chloride")
    Emerson notes the recent movement in the share price of Chloride and the speculation concerning a possible offer for Chloride. Emerson
confirms that on 18 March it made its first approach to the Board of Chloride with a proposal to make a cash offer for Chloride.  There can
be no certainty that an offer for Chloride will be forthcoming. A further announcement will be made in due course if appropriate.
    This announcement does not constitute an announcement of a firm intention to make an offer under Rule 2.5 of The City Code on Takeovers
and Mergers (the "Code").

    Enquiries: Tulchan Communications 
    Andrew Grant [phone] 
    James Bradley [phone]

    The release, distribution or publication of this announcement in jurisdictions other than the UK may be restricted by law and therefore
any persons who are subject to the laws of any jurisdiction other than the UK should inform themselves about and observe any applicable
requirements.
    Dealing Disclosure Requirements
    Under the provisions of Rule 8.3 of the Code, if any person is, or becomes, "interested" (directly or indirectly) in 1 per cent. or more
of any class of "relevant securities" of Chloride, all "dealings" in any "relevant securities" of that company (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 pm
(London time) on the London 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which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period"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 Chloride, they will be deemed to be a single person for the purpose of Rule 8.3.  
    Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of Chloride by Emerson or Chloride, or by any of
their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London 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 Takeover 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 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, you should consult the Panel.

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