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Novera Energy Ltd (NVE)

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Monday 16 April, 2007

Novera Energy Ltd

Update: Scheme of Arrangement

Novera Energy Ltd
16 April 2007

16 April 2007

               Novera Energy Limited ('Novera' or 'the Company')

  Second announcement of proposed scheme of arrangement - First Court Hearing

        Transfer of Novera Domicile from Australia to the United Kingdom

Further to the announcement on 26 March 2007 in relation to the proposed change 
of domicile of the Novera Group from Australia to England, the directors of 
Novera Energy Limited (AIM: NVE), advise that the first hearing of the Supreme 
Court of Victoria in relation to the proposal took place today.

The Supreme Court of Victoria has ordered that a meeting of shareholders be held 
on 16 May 2007 to consider the proposal to effect the change of domicile through 
a scheme of arrangement under the Australian Corporations Act 2001 the 
('Proposed Scheme'), involving a share-for-share exchange, with Novera Energy 
plc ('Novera (UK)'), a company which has been incorporated in England and Wales 
for this purpose.

The Proposed Scheme documentation, which includes an explanatory statement and 
an Appendix to the AIM pre-Admission announcement, will be sent to shareholders 
on or about 23 April 2007 and will be made available from Novera's website 

An indicative timetable, which is subject to change, is set out below:

Despatch of Scheme Documents to shareholders           23 April 2007 BST

Meeting of shareholders of Novera                      9am BST and 6pm AEST 
                                                       on 16 May 2007

Second Supreme Court of New South Wales Hearing        25 May 2007 AEST

Effective Date for Proposed Scheme implementation      25 May 2007 AEST

Record Date to determine entitlements                  7pm on 28 May 2007 AEST

Cancellation of AIM quotation of Novera                8am on 29 May 2007 BST

First day of trading of Novera (UK)                    29 May 2007 BST

BST - British Summer Time
AEST - Australian Eastern Standard Time


Novera Energy Limited                                  020 7845 9720
David Fitzsimmons, Chief Executive Officer
Rory Quinlan, Chief Financial Officer

Gavin Anderson                                         020 7554 1400
Ken Cronin
Janine Brewis
Kate Hill


Notes to editors:

Novera is a leading independent UK renewable energy group. The Company has 
124MW of renewable power generation at 58 sites across the UK and is developing 
a portfolio of wind farms with a target capacity of 250MW by 2011.

In addition, planning approval has been granted for Novera to construct its
second wind farm, Lissett in Yorkshire and for Novera to build the 10MW East
London Sustainable Energy facility at the Ford Motor Company site in Dagenham.

Novera has a portfolio of landfill gas, waste and wind assets and projects.

                      This information is provided by RNS
            The company news service from the London Stock Exchange