GME Global Marine

RNS Number:1591H
BankOra Limited
07 November 2007


 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR
               FROM AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES


FOR IMMEDIATE RELEASE

IDM Group Limited and Global Marine Energy plc

Further to the announcement of 6th November 2007, IDM Group Limited ("IDM") has
decided not to make an offer for Global Marine Energy plc ("GME").

For the purposes of Rule 2.8 of the City Code on Takeovers and Mergers (the "
Code"), IDM, or any person who acted in concert with it or any person who is
subsequently acting in concert with either of them, reserve the right to make or
participate in an offer or possible offer for GME shares and / or take any other
action which would otherwise be restricted under Rule 2.8 of the Code within six
months of today's date with the agreement or recommendation of the GME board.


Enquiries:

BankOra Limited, Financial Adviser to IDM


Henry Turcan                                                 Tel: 020 7562 4713


BankOra Limited, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively for IDM and for no-one else
in relation to the subject matter of this announcement and will not be
responsible to anyone other than IDM for providing the protections afforded to
its clients or for providing advice in relation to the contents of this
announcement or any offer or arrangement referred in this announcement.



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

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