3i Infrastructure Regulatory News (3IN)

2 Jun 2008 16:50



Not for release, publication or distribution, in whole or in part, in or into Australia, Canada, the United States of America or Japan, or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction

For immediate release

2 June 2008

3i Infrastructure Limited

Statement re possible offer for Novera Energy plc

On 18 February 2008, 3i Infrastructure Limited ("3i Infrastructure") announced that it had approached the board of directors of Novera Energy plc ("Novera") and was considering (through Harrier Acquisitions Limited, a wholly-owned subsidiary of 3i Infrastructure) a possible cash offer at 90 pence per share for Novera. 3i Infrastructure today confirms that it no longer intends to make an offer for Novera except in the circumstances listed below.

At the close of business on 30 May 2008, 3i Infrastructure had an interest in approximately 10.0% of the issued share capital of Novera.

For the purposes of Rule 2.8 and other relevant provisions of The City Code on Takeovers and Mergers (the "City Code"), 3i Infrastructure reserves the right to announce an offer or possible offer or make and participate in an offer or possible offer for Novera and/or take any other action which would otherwise be restricted under Rule 2.8 of the City Code within the next six months in the event that:

an agreement or recommendation from Novera's board of directors is forthcoming;

there is an announcement by a third party (including, without limitation, by Infinis Acquisitions Limited or any affiliate of Infinis Acquisitions Limited) of a firm intention to make an offer (whether full or partial) for Novera;

Novera or a third party announces a "whitewash" proposal (as described in Note 1 of the Notes on Dispensation from Rule 9 of the City Code) or a reverse takeover (as described in Note 2 to Rule 3.2 of the City Code) in respect of Novera; or

there is a material change of circumstances.

For further information, please contact:

RBC Capital Markets which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for 3i Infrastructure and no one else in connection with the possible offer and will not be responsible to anyone other than 3i Infrastructure for providing the protections afforded to clients of RBC Capital Markets nor for providing advice in relation to the possible offer or any other matters referred to in this announcement.

Citigroup Global Markets Limited which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for 3i Infrastructure and no one else in connection with the possible offer and will not be responsible to anyone other than 3i Infrastructure for providing the protections afforded to clients of Citigroup Global Markets Limited nor for providing advice in relation to the possible offer or any other matters referred to in this announcement.