Print   



Noventa Limited

("Noventa" or the "Company")

Further Placing

16 October 2009

Further to the announcement released on 14 October 2009 re Result of Placing and Open Offer, Noventa is pleased to announce that it has today completed an additional placing of 40,463,952 Ordinary Shares at 4p per share ("Additional Placing Shares") for a total gross consideration of £1,618,558. This includes a subscription for 887,252 Ordinary Shares by Barons Financial Services Limited, (a company in which Eric Kohn TD, the Chairman has a beneficial interest). Mr. Kohn had previously agreed to subscribe for a minimum of 625,000 new Ordinary Shares in the current fundraising round; in total he has subscribed for 1,250,000 new Ordinary Shares. 

The following table sets out details of Director's Shareholdings (as defined in the AIM Rules) of the Company following the issue of the Additional Placing Shares.

	Ordinary	Percentage of
	Shares Held	Issued Shares Held
Eric Kohn TD *	3,250,000	1.40%
John Allan **	1,625,000	0.70%
Martin Hinxman	209,302	0.09%

* 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 following table sets out details of Significant Shareholders (as defined in the AIM Rules) of the Company following the issue of the Additional Placing Shares.

	Ordinary	Percentage of
	Shares Held	Issued Shares Held
Highland African Ventures Limited	79,373,079	34.25%
Fidelity Investments Limited	18,000,000	7.77%
BlackRock World Mining Trust plc	12,239,902	5.28%
JMM Trading LP	7,500,000	3.24%

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 (37.42% 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 (36.77% of the issued shares).  

The Additional Placing Shares to be issued 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 21 October 2009.

The total number of Ordinary Shares in issue on the date of admission to trading of the Additional Placing Shares will be 231,719,324 with each share holding one voting right.  There are no Ordinary Shares held in treasury.

Defined terms used in this announcement are set out in either the announcement of the 10 September 2009 or in the circular sent to shareholders of Noventa on 24 September 2009.  

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 7489 4500

Daniel Briggs
Religare Hichens, Harrison plc (Broker)
+44 20 7382 7776

ENDIOEMFBBTMMJBBML