20th Jan 2010 16:21
Noventa Limited
("Noventa" or the "Company")
Issue of Shares and Options
20 January 2010
All 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 20 January 2010 at a price of 5.148p per share for the quarter ending 31 December 2009:
|
Eric Kohn TD * |
262,493 |
|
John Allan ** |
366,499 |
|
Tim Griffiths |
79,408 |
|
Dr Joachim Martin |
33,596 |
|
Guy Coltman |
33,596 |
|
Peter Cox |
27,487 |
In addition, 375,094 Ordinary Shares at 4p per share (the issue price at the recent financing) and 238,337 Ordinary Shares at 5.148p per share (as per the issue to the directors above) have been issued to certain employees of the Group as bonuses. The following table sets out details of Director's Shareholdings (as defined in the AIM Rules) of the Company following the issue of the new Ordinary Shares above.
|
Ordinary |
Percentage of |
|
|
Shares Held |
Issued Shares Held |
|
|
Eric Kohn TD * |
3,665,388 |
1.56% |
|
John Allan ** |
1,991,499 |
0.85% |
|
Tim Griffiths |
126,710 |
0.05% |
|
Peter Cox |
293,255 |
0.12% |
|
Dr Joachim Martin |
283,596 |
0.12% |
|
Guy Coltman |
33,596 |
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
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 26 January 2010.
The Board of the Company (other than Mr. Coltman and Mr. Griffiths) has today agreed to grant options (not under the existing Noventa Limited Unapproved Share Option Plan) to each of Mr. Coltman and Mr. Griffiths to subscribe for 485,612 Ordinary Shares at 5.148p per share for a period of 7 years from today. The Board of the Company has also today agreed to grant options (not under the existing Noventa Limited Unapproved Share Option Plan) to the group's consulting geologist to subscribe for 485,612 Ordinary Shares at 5.148p per share for a period of 7 years from today.
The total number of Ordinary Shares in issue on the date of admission to trading of the new Ordinary Shares will be 234,667,146 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 above.
|
Ordinary |
Percentage of |
|
|
Shares Held |
Issued Shares Held |
|
|
Highland African Ventures Limited |
79,373,079 |
33.82% |
|
Fidelity Investments Limited |
18,000,000 |
7.67% |
|
BlackRock World Mining Trust plc |
12,239,902 |
5.22% |
|
JMM Trading LP |
7,500,000 |
3.20% |
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 (36.95% 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 (36.31% of the issued shares).
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
Blomfield Corporate Finance Limited (Nomad)
+44 20 7444 0800
Daniel BriggsReligare Hichens, Harrison plc (Broker)+44 20 7444 0500
Related Shares:
PAR.L