20th Mar 2007 07:02
Noventa Limited20 March 2007 Admission to AIM 20 March 2007 Noventa Limited ("Noventa" or the "Company"), a producer of tantalum, a metalprincipally used in the consumer electronics industry today announces itsadmission to the AIM market operated by the London Stock Exchange andcommencement of unconditional trading of its Ordinary Shares. 34,286,881 ordinary shares of £0.0004 each in the Company ("Ordinary Shares")have been admitted to AIM and 4,600,497 Ordinary Shares have been placed at aprice of 175 pence per Ordinary Share. Investec were the sole underwriter to the Placing and will act as NominatedAdviser and Broker to the Company. Enquiries: Brunswick Group LLP Andrew Garfield Tel: +44 (0)20 7404 5959Mark Antelme Noventa Clinton Wood, ChairmanDr John Herselman, Chief Executive Officer Investec Tel: +44 (0)20 7597 5140 Gerard Kisbey-GreenErik Anderson Notes to editors Noventa is in the process of becoming an industrial scale supplier of tantalumand a producer of morganite, starting from its Marropino mine in Mozambique.Noventa's strategy is designed to enable it to become one of the world's largestand lowest cost industrial scale supplier of tantalum concentrate and to developits deposits of morganite into a significant revenue stream. Pure tantalum is characterised by its high melting point, its exceptionalresistance to chemical attack, its capacity to store and release electricalcharge and its corrosion resistance. These unique chemical properties have ledto its widespread use in the electronics and aeronautics industries and in themaking of surgical appliances. The main use of tantalum is in the manufacture ofelectrolytic capacitors for mobile phones, computers and automotive electronics.Additional uses are found in super alloys for turbine engines, precision opticallenses and high temperature applications. The Directors believe that Noventa has a number of key strengths which will beimportant to the successful build-up of production, development of existingprojects and the future growth and success of Noventa's business: • tantalum* reserves and resources of 19 million lbs; • through its current portfolio of assets, will produce approximately 300,000lbs of tantalum* in 2007 building up to approximately 900,000lbs of tantalum* per annum by 2009. This production will represent in excess of 17 percent of current estimated global production, which, if achieved, would make it one of the largest global producers of tantalum concentrate; • morganite deposits estimated to be the largest in the world; • favorable mining conditions and low cost extraction methods will allow it to become a low cost industrial scale tantalum producer; • the company has secured long term offtake agreements over a significant proportion of its tantalum production from its Marropino mine as well as all of its run of mine morganite production; and • Noventa's management have a demonstrable track record and detailed understanding of operational issues relating to mining and processing plants and operating in emerging markets. *expressed as tantalum pentoxide (Ta2O5) This announcement does not constitute or form any part of an offer or invitationto sell or issue, or any solicitation of an offer to purchase or subscribe forany shares in nor shall it or any part of it, or the fact of its distribution,form the basis of, or be relied on in connection with, any contract thereof. Thecontents of this announcement have not been approved by any authorised personand recipients of this announcement who intend to purchase or subscribe forshares in Noventa following publication of an admission document in final formare reminded that any such purchase or subscription may only be made on thebasis of the information contained in the admission document. Accordingly, noreliance may be placed for any purpose whatsoever on the information containedin this announcement or on its completeness. No representation or warranty,express or implied, is given by Noventa, its directors, or any professionaladviser as to the accuracy or completeness of the information and opinionscontained in this announcement and no liability is accepted for the same. Some of the information in this press release may contain projections or otherforward-looking statements regarding future events or the future financialperformance of the Company. You can identify forward-looking statements by termssuch as "expect", "believe", "anticipate", "estimate"., "intend", "will","could", "may" or "might" the negative of such terms or other similarexpressions. The Company wishes to caution you that these statements are onlypredictions and that actual events or results may differ materially. The Companydoes not intend to update these statements to reflect events and circumstancesoccurring after the date hereof or to reflect the occurrence of unanticipatedevents. Many factors could cause the actual results to differ materially fromthose contained in projections or forward-looking statements of the Company,including risks specifically related to the Company and its operations. Investec Investment Banking is acting for the Company in connection with thePlacing and no one else and will not be responsible to anyone other than theCompany for providing the protections afforded to clients of Investec InvestmentBanking nor for giving advice in relation to the Placing. Neither this press release nor any copy of it may be taken or transmitted intoAustralia, Canada, Japan or to any Canadian persons or to any securities analystor other person in any of those jurisdictions. This press release does notconstitute or form part of any offer or invitation to sell, or any solicitationof any offer to purchase nor shall it (or any part of it) or the fact of itsdistribution, form the basis of, or be relied on in connection with, anycontract thereof. The Placing and the distribution of this press release andother information in connection with the listing and the Placing in certainjurisdictions may be restricted by law and any persons into whose possession anydocument or other information referred to herein comes should inform themselvesabout and observe any such restriction. Any failure to comply with theserestrictions may constitute a violation of the securities laws of any suchjurisdiction. This communication is only directed at persons in member states of the EuropeanEconomic Area that are "qualified investors" within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC) ("Qualified Investors").In addition, in the United Kingdom, this communication is being distributed onlyto, and is directed only at, investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotions) Order2005, as amended (the "Order") or who are high net worth entities falling withinArticle 492(a) to (d) of the Order, and to other persons to whom it mayotherwise lawfully be communicated (all such persons together being referred toas "relevant persons"). This communication must not be acted on or relied uponin the United Kingdom by persons who are not relevant persons. Any investment orinvestment activity to which this communication relates is available only in theUnited Kingdom to relevant persons, and will be engaged in only with suchpersons. The Ordinary Shares have not been and will not, directly or indirectly, beissued, offered, sold, delivered or publicly promoted or advertised in theUnited Arab Emirates other than in compliance with any laws applicable in theUnited Arab Emirates governing the issue, offering and/or sale, delivery orpublic promotion or advertisement of securities including without limitationthose laws applicable in the Dubai International Finance Centre. The informationcontained in this communication does not, and is not intended to, constitute apublic offer of securities in any part of the United Arab Emirates in accordancewith the Commercial Companies Law (UAE Federal Law No. 8 of 1984 (as amended))or otherwise, and is not intended to be an offer or an invitation to subscribefor or purchase any Ordinary Shares. The Ordinary Shares have not been and will not be registered under the USSecurities Act of 1933, or under any applicable securities laws of any state ofthe US. The relevant clearances have not been, and will not be, obtained fromthe securities commission of any province or territory of Canada; no document inrelation to the Placing and the placing has been, or will be lodged with, orregistered by, the Australian Securities and Investments Commission; and noregistration statement has been, or will be filed with the Japanese Ministry ofFinance in relation to the Placing. Accordingly, subject to certain exceptions,Ordinary Shares may not, directly or indirectly, be offered or sold in or intothe US, Canada, Australia or Japan or to any resident of Canada, Australia orJapan. This does not constitute a recommendation concerning the Placing. The value ofshares can go down as well as up. Past performance is not a guide to futureperformance. Potential investors should consult a professional adviser as to thesuitability of any offering for the individual concerned. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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