18th Jan 2011 07:00
Noventa Limited
("Noventa" or the "Company")
Issue of Equity
18 January 2011
The Company has today issued 330,670 ordinary 0.04p shares ("Ordinary Shares") at a price of 10.70 pence per share to certain members of the current Board of Directors and to a consultant to the Company who have elected to receive a proportion of their remuneration from Noventa in the form of new Ordinary Shares (the "Remuneration Shares"). These payments are calculated quarterly and the Remuneration Shares are issued at a price equivalent to the average of the closing mid-market price for the 30 days prior to the end of the quarter. Of the Remuneration Shares, the following were issued to Directors of the Company for the quarter ending 31 December 2010:
Number of Remuneration Shares
| |
Eric Kohn TD * | 120,101 |
Kean Chung | 51,962 |
Tim Griffiths | 45,316 |
Leslie Heymann | 27,190 |
Guy Coltman | 22,658 |
Dr Joachim Martin | 18,126 |
The following table sets out details of Director's Shareholdings (as defined in the AIM Rules) of the Company following the issue of the Remuneration Shares.
Ordinary Shares Held | Percentage of Issued Ordinary Shares Held
| |
Eric Kohn TD * | 6,441,629 | 1.28% |
Kean Chung *** | 5,862,404 | 1.16% |
John Allan ** | 3,093,282 | 0.61% |
Pat Lawless | 680,950 | 0.13% |
Dr Joachim Martin | 414,610 | 0.08% |
Tim Griffiths | 349,302 | 0.07% |
Guy Coltman | 144,892 | 0.03% |
Leslie Heymann | 27,190 | 0.01% |
* 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
The following table sets out details of Significant Shareholders (as defined in the AIM Rules) of the Company, to the extent that the Company is aware, following the issue of the Remuneration Shares.
Ordinary Shares Held
| Percentage of Issued Ordinary Shares Held | |
Highland African Ventures Limited # | 79,373,079 | 15.73% |
Richmond Capital LLP | 42,156,000 | 8.35% |
Kaizan Capital LLC | 26,648,900 | 5.28% |
Panta Holdings BV | 21,367,911 | 4.23% |
Compagnie Internationale de Participations Bancaires et Financieres SA | 19,906,340 | 3.94% |
JMM Trading LP | 16,769,507 | 3.32% |
# 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 (17.67% 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 (16.88% of the issued shares).
An application has been made to admit the Remuneration Shares to trading on AIM, with trading expected to commence on 24 January 2011.
Following admission to trading of the Remuneration Shares, the Company will have 504,743,035 Ordinary Shares in issue and following the issue of all of the 9,953,171 Additional Subscription Shares (as defined in the Company's 'Issue of Equity' announcement of 3 September 2010) the Company will have 514,696,876 Ordinary Shares in issue. The Company does not hold any Ordinary 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 (Joint Broker)+44 20 7444 0500
Related Shares:
PAR.L