Offer Talks Terminated

    RNS Number : 0034C
  Qualceram Shires PLC
  26 August 2008
   

    26 August 2008

    QUALCERAM SHIRES PLC 
    OFFER TALKS TERMINATED


    Qualceram Shires plc ("Qualceram" or the "Company") announced on 20 March 2008 that the Board of Qualceram had received "an unsolicited
preliminary expression of interest from a third party to acquire the Company which may or may not lead to a formal offer being made to
acquire all of the outstanding shares of the Company". 

    Since this announcement, Qualceram in conjunction with its advisers Davy Corporate Finance held thorough and detailed discussions with a
number of potentially interested parties regarding an offer for the entire share capital of the Company.

    The position of potential buyers and current valuation levels have been negatively impacted by the continued deterioration in the UK and
Irish construction markets, the general downturn in the economy, credit market conditions and uncertainty surrounding a recovery in the
Company's key markets. These factors have restricted the ability of the parties who expressed an initial interest in making an offer for the
Company, and with whom the Board has engaged during the last five months, to make acceptable offers.

    As a result, the Board is terminating the process and Qualceram can confirm that it has ended discussions with potential buyers.


 For further information, please contact:                            

 Qualceram Shires PLC
 John O'Loughlin, Chief Executive              Tel: + 353 (402) 31288
 Aidan Clince, Company Secretary               Tel: + 353 (1) 4047600
  
 Davy Corporate Finance                                              
 Des Carville / Fergal Meegan               Tel: + 353 (0) 1 6796363 
  
 Drury Communications:                                               
 Paddy Hughes                                  Tel: + 353 (1) 2605000
                                                   + 353 (87) 6167811
  

    The directors of Qualceram accept responsibility for the information contained in this announcement. To the best of their knowledge and
belief (having taken all reasonable care to ensure that such is the case), the information contained in this announcement for which they
take responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.

    Davy Corporate Finance, which is regulated in Ireland by the Financial Regulator, is acting as financial adviser to Qualceram and no one
else in connection with the matters referred to in this announcement and will not be responsible to any person other than Qualceram for
providing the protections afforded to the clients of Davy Corporate Finance or for providing advice in relation to the matters referred to
herein.

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