RNS Number : 2998L
  Blue Oar PLC
  08 January 2009
   

    8 January 2009

    Blue Oar Plc
    ("Blue Oar" or the "Company")

    Statement Re: Requisition by Evolve Capital plc ("Evolve") to convene a general meeting of the Company.

    Following the announcement by Evolve that it has served a requisition notice on the Company to convene a general meeting to effect the
board changes that it seeks, the Company confirms that it will comply with its obligations to convene a general meeting in accordance with
the terms of such notice. Each of the current board members have indicated their willingness to resign in accordance with Evolve's request
and have engaged in dialogue with Evolve and its representatives to implement such resignations. The Directors have emphasised that any
resignation should be upon agreed terms in accordance with market practice. Each Director remains mindful of and continues to discharge his
fiduciary duties.

    The Board still believes that the Evolve offer undervalues Blue Oar.  

    The Board continues to explore all opportunities for the business for the benefit of all shareholders.

    For further information please contact:

    Andrew Monk                                      Tel: 020 7448 4400
    Blue Oar Plc


    Richard Kauffer / Nicholas Marren        Tel: 020 7418 8900
    KBC Peel Hunt Ltd


    Reg Hoare                                             Tel: 020 7360 4900
    Smithfield





This information is provided by RNS
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