20th Oct 2009 16:01
Noventa Limited
("Noventa" or the "Company")
Appointment of New Directors, Issue of Shares and Options
20 October 2009
Noventa is delighted to announce the appointments of Dr. Joachim Martin and Guy Coltman as Non-Executive Directors of the Company. Dr. Martin is an expert in the field of tantalum and other rare metals. He was formerly General Manager; Raw Material Sourcing at H. C. Starck, one of the world's leading rare metals companies and prior to that, the Manager of the H. C. Starck Goslar Plant. He now consults widely in the rare metals field and holds a PhD in Mineralogy and Economic Geology.
Mr. Coltman is a partner at Carey Olsen, the Company's Jersey lawyers, specializing in corporate law, and is qualified to practice law in both Jersey and England & Wales.
Eric Kohn TD, the Company's Chairman said:
"I am delighted to welcome people of Dr. Martin's expertise in all aspects of the production of tantalum, and Mr. Coltman's wide-ranging legal experience to the Board. I am confident that their wise counsel will bring great future benefits to the Company."
Four members of the current board of directors have elected to receive a proportion of their remuneration from Noventa in the form of new ordinary shares of 0.04p each ("Ordinary Shares"). These payments are calculated quarterly and the shares are issued at a price equivalent to the average of the closing mid-market price on the 30 days prior to the date of allotment. The following Ordinary Shares have been allotted on 19 October 2009 at a price of 5.946p per share for the quarter ending 30 September 2009:
|
Eric Kohn TD * |
152,895 |
|
John Allan ** |
315,347 |
|
Tim Griffiths *** |
47,302 |
|
Peter Cox |
15,767 |
In addition, Peter Cox and Joachim Martin have each been issued with 250,000 Ordinary Shares in settlement for invoices for consulting services at a price of 4p per share (the same price as the recent fund raising). The following table sets out details of Director's Shareholdings (as defined in the AIM Rules) of the Company following the issue of the Additional Placing Shares.
|
|
Ordinary |
Percentage of |
|
|
Shares Held |
Issued Shares Held |
|
|
|
|
|
Eric Kohn TD * |
3,402,895 |
1.46% |
|
John Allan ** |
1,940,347 |
0.83% |
|
Peter Cox |
265,767 |
0.11% |
|
Joachim Martin |
250,000 |
0.11% |
|
Martin Hinxman |
209,302 |
0.09% |
|
Tim Griffiths *** |
47,302 |
0.02% |
* 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
*** These shares are held by Chescor Capital FZ LLC, a company in which Mr. Griffiths has a beneficial interest
The new Ordinary Shares described in this announcement will rank pari passu with the Company's existing Ordinary Shares. It is expected that admission will become effective and that trading will commence on 27 October 2009.
The Board of the Company (other than Mr. Hinxman) has today agreed to grant options (under the existing Noventa Limited Unapproved Share Option Plan) over 6,000,000 Ordinary Shares, of which 3,000,000 have been granted to Martin Hinxman, the Finance Director. These shares have an exercise price of 4p per share and can be exercised between one year and four years from today. The Board of the Company (other than Dr. Cox) has today agreed to grant options (not under the existing Noventa Limited Unapproved Share Option Plan) to each of Dr. Cox and Dr. Martin to subscribe for 1,000,000 Ordinary Shares at 4p per share for a period of 7 years from today.
Further to the announcement made on 16 October 2009 regarding the Placing of new Ordinary Shares, the new Ordinary Shares detailed in the announcement will be admitted to trading on AIM on 22 October 2009, not 21 October 2009.
The total number of Ordinary Shares in issue on the date of admission to trading of the new Ordinary Shares will be 232,750,636 with each share holding one voting right. There are no Ordinary Shares held in treasury.
For further information please contact:
Eric F. Kohn TDChairmanNoventa Limited+41 22 8500560+41 79 5030150www.noventa.net http://www.noventa.net/ Nick Harriss/Emily StaplesBlomfield Corporate Finance Limited (Nomad)+44 20 7489 4500
Daniel BriggsReligare Hichens, Harrison plc (Broker)+44 20 7382 7776
Information Required to be Disclosed Under Schedule Two of the AIM Rules for Companies
Full Name of Director - Dr. Ernst Joachim Martin
Age - 56
Current Directorships and Partnerships:
IGASAquabioCarbon GmbHEJM Rare Metals Consulting ServicesZirco Refining GmbHZirco Establishment
Former Directorships:
H. C. Starck GmbHFull Name of Director - Guy Edward Sinnott Coltman
Age - 41
Current Directorships and Partnerships:
Carey OlsenLynx LimitedMotelands Limited
Related Shares:
PAR.L