PAR.L Regulatory News (PAR)

Noventa Limited

("Noventa" or the "Company")

Placing and Subscription for New Shares

3 September 2010

Noventa (AIM: NVTA) is pleased to announce the successful placing of 42,021,415 new ordinary shares of 0.04p each ("Placing Shares"), and a subscription for 8,442,506 new ordinary shares of 0.04p each ("Subscription Shares") (together the "New Shares") at a price of 6.5p per New Share, raising a total of £3,280,155, approximately equivalent to US$5,058,000. These funds will be utilised for a combination of capital expenditure and general working capital purposes. The New Shares have been acquired by a combination of new investors and existing shareholders. Religare Capital Markets acted as the Company's broker in the placing. 

In addition to the monies raised through the issue of the New Shares, the Company is also pleased to announce that it has received an irrevocable undertaking from Compagnie Internationale de Participations Bancaires et Financieres SA, ("CIPAF") a subsidiary of General Mediterranean Holding SA, to subscribe for 29,859,511 new ordinary shares of 0.04p (the "Additional Subscription Shares") at a price of 6.587p per share to raise a further £1,966,845, approximately equivalent to US$3,033,000 (the "Additional Subscription"). The Additional Subscription will take the form of three distinct tranches, as laid out below, with the Company receiving the subscription funds for each of the tranches below at the time each tranche is subscribed, and the respective Additional Subscription Shares allotted to CIPAF within five working days of the subscription monies being received.

The issue of the New Shares and the Additional Subscription combined means that Noventa has secured in total £5,247,000, approximately equivalent to US$8,080,380.

The subscribers for the New Shares and Additional Subscription Shares will receive warrants to subscribe for 1 new ordinary 0.04p shares for every 2 shares subscribed for (the "Warrants"). The Warrants will have an exercise price of 10p and a life of two years from [today]. The Warrants will not be traded on any exchange.

Following the Placing (but excluding the issue of the Additional Subscription Shares), the list of disclosed shareholders in Noventa, as far as the Company is aware, will be as follows:

 # Highland African Ventures Limited is owned by a trust whose trustee is Fleming Family & Partners Liechtenstein and Mr. R J Fleming is one of the potential beneficiaries. Fleming Family & Partners Liechtenstein has a total interest, including through Highland African Ventures Limited, in a total of 89,203,154 shares (28.89% of the issued shares). Mr. R J Fleming has an interest, including through Highland African Ventures Limited, in a total of 85,208,892 shares (27.60% of the issued shares).

An application has been made to admit the New Shares to trading on AIM and trading is expected to commence on 8 September 2010. Application will be made to admit the Additional Subscription Shares to trading on AIM within two working days of each tranche being subscribed. The Company will make further announcements in this regard at the time each of the subscription tranches are made.

Following the issue of the New Shares the Company will have 308,729,803 ordinary shares of 0.04p each in issue and following the issue of all 29,859,511 of the Additional Subscription Shares the Company will have 338,589,314 ordinary shares of 0.04p each in issue.

Barons Financial Services (UK) Limited, ("BFSUK") a company authorised and regulated by the Financial Services Authority acted as a placing agent on behalf of Religare Capital Markets during this fundraising, for which it will receive a net commission share of £66,000. BFSUK, in which Mr. Kohn has a beneficial interest through the Swiss parent Company, is a Related Party as defined under the AIM Rules for Companies. The independent Directors (all Directors other than Mr. Kohn), who have consulted with the Company's nominated adviser, believe the terms of the placing commission to BFSUK, to be fair and reasonable in so far as shareholders are concerned.

Chairman Eric Kohn TD commented: "We are delighted that Noventa has secured this additional capital, which will make a significant contribution to our overall funding requirement as announced in the strategic plan." 

For further information please contact:

Eric F. Kohn TD

Chairman

Noventa Limited

+41 22 8500560

+41 79 5030150

www.noventa.net

Nick Harriss/Emily Staples

Religare Capital Markets (Nomad)

+44 20 7444 0800

Daniel Briggs Religare Capital Markets (Broker) +44 20 7444 0500