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29 Oct 2010 07:00
Noventa Limited
("Noventa" or the "Company")
Issue of Equity
29 October 2010
Further to the announcement made on 4 August 2009, 3,000,000 ordinary 0.04p shares ("Shares") have been allotted in relation to the share based incentive programme for as a result of the Company's share price remaining above 10p on a 30 day moving average basis (the "Bonus Issue").
2,000,000 Shares have been allotted to Barons Financial Services Limited, ("Barons") a company in which the Chairman, Eric Kohn TD has a beneficial interest.
1,000,000 Shares have been allotted to Ekasure Limited, ("Ekasure") the company through which the services of the John Allan, a director of the Company, are provided, and in which Mr. Allan has a beneficial interest.
The Company has received notice of exercise of warrants, subscribing for 1,153,847 new Shares at 10p per share ("Warrant Exercise") at a total subscription value of £115,385.
An application will be made to admit the new Shares from the Bonus Issue and Warrant Exercise for trading on AIM with effect from 5 November 2010.
The following table sets out details of Significant Shareholders (as defined in the AIM Rules) of the Company following the Warrant Exercise and the Bonus Issue.
Shares Held
| Percentage | |
Highland African Ventures Limited # | 79,373,079 | 23.74% |
Fidelity Investments Limited | 16,331,100 | 4.89% |
JMM Trading LP | 15,103,557 | 4.52% |
BlackRock Investment Management | 14,732,208 | 4.46% |
Marlborough UK Micro-Cap Growth Fund | 11,983,988 | 3.58% |
# 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 (27.04% 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 (25.83% of the issued shares).
The following table sets out details of Director's Shareholdings (as defined in the AIM Rules) of the Company following the Bonus Issue and the Warrant Exercise.
Ordinary Shares Held | Percentage of Issued Shares Held
| |||
Eric Kohn TD * | 6,321,528 | 1.89% |
| |
Kean Chung *** | 5,810,441 | 1.74% |
| |
John Allan ** | 3,093,282 | 0.93% |
| |
Pat Lawless | 680,950 | 0.21% | ||
Dr Joachim Martin | 396,484 | 0.12% | ||
Tim Griffiths | 303,986 | 0.09% | ||
Guy Coltman | 122,234 | 0.04% | ||
Leslie Heymann | 0 | 0.00% | ||
* These shares are held by Barons Financial Services Limited, a company in which Mr. Kohn has a beneficial interest.
** These shares are held by Ekasure Limited, a company in which Mr. Allan has a beneficial interest
*** 5,500,000 of these shares are held by a family trust of which Mr. Chung is a potential beneficiary
Following the Warrant Exercise, the Company will have 334,299,865 Shares in issue and following the issue of all of the 29,859,511 Additional Subscription Shares (as defined in the Company's 'Issue of Equity' announcement of 3 September 2010) the Company will have 354,206,206 Shares in issue. The Company does not hold any Shares in treasury.
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
Andrew Chubb/Kit Stephenson
Canaccord Genuity Limited (Joint Broker):+44 20 7050 6500
Daniel BriggsReligare Capital Markets (Broker)+44 20 7444 0500
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