Clarkson Regulatory News (CKN)

3 Nov 2005 17:49

Clarkson PLC03 November 2005 CLARKSON PLC CLARKSONS AND PLOWRIGHT Clarkson PLC ("Clarksons"), the world's leading shipping services group, andJ O Plowright (Holdings) Ltd ("Plowright") today announce that they are indiscussions with a view to merging their operations. Plowright, based inLondon, is a privately owned shipbroker with 26 staff, before affiliates, whichpredominantly serves the petrochemical, products, lubricant, gas, vegetable oiland molasses freight markets. Richard Whittet, Managing Director of Plowright commented: 'The industry that weserve offers considerable scope for growth by our merging with such aninnovative company. I am delighted that my colleagues and I have theopportunity of considering this exciting new venture with its potential to offermore comprehensive services to our global shipping customers.' Richard Fulford-Smith, CEO of Clarksons said: 'Joining forces with Plowrightwill give us an expanded operating platform from which we can respondproactively to the needs of our present and future customers within thisspecialised sector of our industry. We fully expect this proposed new entity tobenefit our regional and global crude, cpp and gas businesses.' The transaction is subject to due diligence and final contract. In accordancewith the UK Listing Authority Rules, further details of this Class 2 transactionwill be made upon completion. For further information: Richard Fulford-Smith Clarkson PLC Telephone: +44 20 7334 3139 Richard Whittet J O Plowright (Holdings) Ltd Telephone: +44 20 7291 7373 END Notes to editors Background to Clarkson PLC Clarkson PLC (which is listed on the London Stock Exchange) is acknowledged asthe world's leading shipping services group. Through its unrivalled andextensive global network of offices it is able to give its clients unique accessto a wide range of shipping services. Clarksons covers shipbroking, research,publications, derivatives and logistics. Clarksons' strategy is to expand anddevelop the group around these key activities. For further information on Clarkson PLC, please visit the company's website atwww.clarksons.com This information is provided by RNS The company news service from the London Stock Exchange