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Novera Energy Ltd (NVE)

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Friday 20 April, 2007

Novera Energy Ltd

Update: Scheme of Arrangement

Novera Energy Ltd
20 April 2007

20 April 2007

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

             Third Announcement of proposed scheme of arrangement
                        - Despatch of Scheme Documents(1)

        Transfer of Novera Domicile from Australia to the United Kingdom
The Directors of Novera advise that, further to the announcements on 26 March 
2007 and 16 April 2007 in relation to the proposal change of domicile of Novera 
from Australia to the UK through a scheme of arrangement under the Australian 
Corporations Act 2001 (the 'Proposed Scheme'), the Proposed Scheme documentation 
has been sent to shareholders. The Proposed Scheme involves a share exchange 
with Novera Energy plc, 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 made available for 
download from Novera's website at:

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

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

Second Supreme Court of Victoria 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 listing of Novera               8am on 29 May 2007 BST

First day of trading of Novera Energy plc           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.


(1) The 'Second announcement of proposed scheme of arrangement - First Court
Hearing' relating to the transfer of Novera Domicile from Australia to the
United Kingdom, released on 16 April 2007, stated that the Proposed Scheme
documentation would be sent to Shareholders on or about 23 April 2007. This has
now been updated and brought forward to 20 April 2007.

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