16th Jul 2010 10:05
Noventa Limited
("Noventa" or the "Company")
Issue of Shares to Directors
16 July 2010
Certain members of the current Board of Directors, together with Peter Cox, who stood down as a director of the Company at Noventa's Annual General Meeting held on 30 June 2010, 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 for the 30 days prior to the end of the quarter. The following Ordinary Shares were issued and allotted on 15 July 2010 at a price of 7.649p per share for the quarter ending 31 March 2010:
|
Eric Kohn TD * |
169,052 |
|
Tim Griffiths |
50,935 |
|
Peter Cox **** |
25,468 |
|
Dr Joachim Martin |
25,468 |
|
Guy Coltman |
25,468 |
and at a price of 6.542p per share for the quarter ending 30 June 2010:
|
Eric Kohn TD * |
189,504 |
|
Kean Chung *** |
187,006 |
|
Tim Griffiths |
61,146 |
|
Peter Cox **** |
30,573 |
|
Dr Joachim Martin |
30,573 |
|
Guy Coltman |
30,573 |
In addition, a total of 1,011,670 Ordinary Shares have been issued to employees as bonuses, including 604,027 Ordinary Shares to Patrick Lawless. The following table sets out details of Director's Shareholdings (as defined in the AIM Rules) of the Company following the issue of the above Ordinary Shares.
|
|
Ordinary |
Percentage of |
|
|
Shares Held |
Issued Shares Held |
|
|
|
|
|
Kean Chung *** |
5,687,006 |
2.20% |
|
Eric Kohn TD * |
4,144,067 |
1.60% |
|
John Allan ** |
2,093,282 |
0.81% |
|
Pat Lawless |
680,950 |
0.26% |
|
Dr Joachim Martin |
370,406 |
0.14% |
|
Tim Griffiths |
238,791 |
0.09% |
|
Guy Coltman |
89,637 |
0.03% |
* 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 new Ordinary Shares described in this announcement will rank pari passu with the Company's existing Ordinary Shares. An application has been made for the new Ordinary Shares to be admitted for trading on AIM with effect from 22 July 2010.
The total number of Ordinary Shares in issue on the date of admission to trading of the new Ordinary Shares will be 258,265,882 with each share holding one voting right. There are no Ordinary Shares held in treasury.
The following table sets out details of Significant Shareholders (as defined in the AIM Rules) of the Company following the issue of the new Ordinary Shares.
|
|
Ordinary |
Percentage of |
|
|
|
Shares Held |
Issued Shares Held |
|
|
|
|
|
|
|
Highland African Ventures Limited |
79,373,079 |
30.73% |
|
|
Fidelity Investments Limited |
21,000,000 |
8.13% |
|
|
BlackRock World Mining Trust plc |
12,239,902 |
4.74% |
|
|
JMM Trading LP |
9,616,178 |
3.72% |
|
|
City Natural Resources High Yield Trust plc |
9,326,924 |
3.61% |
|
|
Marlborough UK Micro-Cap Growth Fund |
8,383,988 |
3.25% |
|
|
|
|
|
|
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 86,708,892 shares (33.57% 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 (32.99% of the issued shares).
At a Board Meeting of the Company held on 30 June 2010, a Remuneration Committee was established, with Mr. Chung, Mr. Coltman, Mr. Griffiths and Mr. Kohn as its members.
For further information please contact:
Eric F. Kohn TD
Chairman
Noventa Limited
+41 22 8500560
+41 79 5030150
www.noventa.net
http://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
Related Shares:
PAR.L