6th Jun 2012 16:20
NOVENTA LIMITED
("Noventa" or the "Company") (AIM: NVTA; PLUS: NV)
Release of Financial Results for the year to 31 December 2011,
Accounting Treatment of New Processing Plant
& Suspension of Trading of Shares on PLUS
6 June 2012
The Company expects to release its 2011 Annual Report and Financial Statements during the week commencing 18 June 2012.
Subject to final audit related matters, the Company anticipates that its property, plant and equipment, principally representing the new process plant at Marropino, will be subject to a material impairment. This impairment reflects the requirements of International Financial Reporting Standards.
The PLUS SX Quoted Market ("PLUS"), on which the both the Company's convertible redeemable £1 preference shares ("Preference Shares") and ordinary 0.8p shares ("Ordinary Shares") are admitted to trading , has a requirement that a Company announces its full year financial results within five months of the end of the financial year. As the Company has not announced its full year financial results in this timescale, its Preference Shares and Ordinary Shares were suspended from trading on PLUS with effect from 1 June 2012.
Trading of the Company's Ordinary Shares on AIM is not effected by the suspension of trading on PLUS. Under the AIM Rules the Company has six months to announce and post to shareholders its financial results for the full year.
For further information please contact:
Noventa Limited Fernando Fernandez-Torres (Chief Executive Officer)
+258 21 485340 +258 84 3456340 www.noventa.net | Allenby Capital Limited (Nominated Adviser and Broker) Nick Harriss/Jeremy Porter/James Reeve
+44 20 3328 5656
www.allenbycapital.com |
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information contained or incorporated by reference in this release, including any information as to the Noventa's strategy, projects, plans, prospects, future outlook, anticipated events or results or future financial or operating performance, constitutes "forward-looking statements" within the meaning of Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements can often, but not always, be identified by the use of words such as "plans", "expects", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "predicts", "potential", "continue" or "believes", or variations (including negative variations) of such words; or statements that certain actions, events or results "may", "could", "would", "should", "might", "potential to", or "will" be taken, occur or be achieved or other similar expressions concerning matters that are not historical facts. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made or incorporated in this press release are qualified by these cautionary statements.
Forward-looking statements are necessarily based on a number of factors, estimates and assumptions that, while considered reasonable by Noventa as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Readers are also cautioned that forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Noventa to differ materially from those expressed or implied in the forward-looking statements. Certain of these risks and uncertainties are described in more detail in Noventa's Annual Information Form dated 19 July 2011, which is available on SEDAR at www.sedar.com.
Although Noventa has attempted to identify statements containing important factors that could cause actual actions, event or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein are made as of the date of this document based on the opinions and estimates of management on the date statements containing such forward looking information are made, and Noventa disclaims any obligation to update any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward looking information.
Related Shares:
PAR.L