24th Sep 2009 09:55
NOVENTA LIMITED
('Noventa' or the 'Company')
[AIM: NVTA]
Issue of Convertible Loan Notes and Conditional Placing of Shares, Placing & Open Offer of Shares, Circular to Shareholders and EGM
24 September 2009
Further to the announcements released at 7.00 a.m. this morning and on 10 September 2009, Noventa sets out below the expected timetable of principal events in relation to the Placing and Open Offer and the Placing and Open Offer statistics.
Defined terms used in this announcement are set out in either the announcement of the 10 September 2009 or in the circular being sent to shareholders of Noventa today. The Circular will be available on the Company's website www.noventa.net by the close of business today.
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
|
Record Date for entitlement under the Open Offer |
23 September 2009 |
|
Announcement and publication of this document and Application Form |
24 September 2009 |
|
Ex-entitlement date of the Open Offer |
24 September 2009 |
|
Open Offer Entitlements and Excess CREST Open Offer Entitlements credited to stock accounts of Qualifying CREST Shareholders |
25 September 2009 |
|
Recommended latest times for requesting withdrawal of Open Offer Entitlements from CREST |
4.30 p.m. on 6 October 2009 |
|
Recommended latest times for depositing Open Offer Entitlements into CREST |
3.00 p.m. on 7 October 2009 |
|
Latest time and date for splitting Application Forms (to satisfy bona fide market claims only) |
3.00 p.m. on 8 October 2009 |
|
Latest time and date for acceptance of the Open Offer and receipt of completed Application Forms and payment in full under the Open Offer or settlement of relevant CREST instruction (as appropriate) |
11.00 a.m. on 12 October 2009 |
|
Latest time and date for receipt of completed Forms of Proxy |
11.00 a.m. on 12 October 2009 |
|
EGM |
11.00 a.m. on 14 October 2009 |
|
Announcement of result of Open Offer |
by 8.00 a.m. on 14 October 2009 |
|
Admission and commencement of dealings in New Ordinary Shares |
8.00 a.m. on 15 October 2009 |
|
New Ordinary Shares credited to CREST members' accounts (if appropriate) |
15 October 2009 |
|
Despatch of definitive share certificates for New Ordinary Shares in certificated form |
by 22 October 2009 |
PLACING AND OPEN OFFER STATISTICS
(Assuming the maximum number of shares are subscribed pursuant to the Open Offer)
|
Offer Price |
4p |
|
Number of Existing Ordinary Shares in issue on the Record Date |
42,447,104 |
|
Number of New Ordinary Shares issued pursuant to the Placing and Open Offer |
53,058,880 |
|
Enlarged Share Capital |
191,255,372 |
|
Basis of the Open Offer |
5 Offer Shares for every 4 Existing Ordinary Shares |
|
Percentage of Enlarged Share Capital represented by the Placing Shares and the Offer Shares |
27.74 per cent. |
|
Gross proceeds of the Placing and Open Offer |
£2,122,355 |
|
Estimated net cash proceeds of the Placing and Open Offer |
£1,962,756 |
|
Market capitalisation of the Company at the Offer Price, immediately following completion of the Open Offer |
£7,650,215 |
|
TIDM code (Tradeable Instrument Display Mnemonic) |
NVTA |
|
ISIN (International Securities Identification Number) |
JE00B1RPM978 |
|
GBP:USD exchange rate used in the document |
£1:$1.634 |
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 Morgan
Blomfield Corporate Finance Limited (Nomad)
+44 20 7489 4500
Daniel Briggs
Religare Hichens, Harrison plc (Broker)
+44 20 7382 7776
Related Shares:
PAR.L