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Novera Energy Ltd (NVE)

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Friday 25 May, 2007

Novera Energy Ltd

Update: Scheme of Arrangement

Novera Energy Ltd
25 May 2007

25 May 2007

          Novera Energy Limited ('Novera' or 'the Company') (AIM: NVE)

    Fifth Announcement of proposed Scheme of Arrangement - Court Approval to
            transfer Novera Domicile from Australia to United Kingdom

                     Appointment of Non Executive Directors

The Directors of Novera advise that further to previous announcements regarding 
the proposal to change the domicile of the Novera Group from Australia to 
England through a Scheme of Arrangement under the Australian Corporations Act 
2001 (the 'Scheme'), the second hearing of the Supreme Court of New South Wales 
in relation to the Scheme took place today.

The Supreme Court of Victoria has ordered that the Scheme be implemented on the 
terms outlined in the Scheme Booklet sent to Shareholders on 20 April 2007.

As a result of the Court Order, it is intended that Novera's ordinary shares 
will be temporarily suspended from trading on AIM between close of business 
today and 08:00am on Tuesday 29 May to enable implementation of the Scheme, 
as set out in the following indicative timetable:

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

The Scheme documents, which include the Scheme Booklet and Appendix to the AIM 
pre-Admission announcement of Novera Energy plc are available from Novera's 
website at

Following approval of the Scheme of Arrangement by The Supreme Court of Victoria
the following individuals have been appointed to the Board of Novera Energy plc
in non executive roles. These appointments are additional to the existing
directors of Novera Energy plc, namely Roy Alexander Franklin, David Stephen
Fitzsimmons and Rory John Quinlan and existing Company Secretary, Elizabeth

Michael Cairns is an existing Non Executive Director of Novera Energy Limited
and has today been appointed as a Non Executive Director of Novera Energy plc.
Michael is an experienced executive having held positions as Chairman, CEO, COO
and non-executive director of a variety of private equity, government and listed
public enterprises.

Brian Duckworth OBE has today been appointed as Non Executive Director of Novera
Energy plc and Chairman of the Board's Remuneration Committee. Brian spent 30
years with Severn Trent plc, before retiring as Managing Director of Severn
Trent Water in 2005.  Prior to joining Severn Trent he worked for four years for
East Midlands Electricity. Brian is also a Director of Redrow plc, Avon Rubber
plc and White Young Green plc.  In each of these companies he sits on or Chairs
the Boards' Remuneration and Audit Committees.  He is the Senior Independent
Non-Executive Director of both Redrow plc and Avon Rubber plc and Chairs the
Environmental and Corporate Responsibility Committee at Redrow plc.   Brian is
58 years old. Details of Brian's current and past (within the last five years)
Directorships or Partnerships are listed in the attached appendix.

James Richard Grace has today been appointed as Non Executive Director of Novera
Energy plc and Chairman of the Board's Audit Committee. James is at present a
Corporate Finance Director at Investec Investment Banking. He was a Director of
UK Land plc from 1993 to 2003. James is 49 years old. Details of James' current
and past (within the last five years) Directorships or Partnerships are listed
in the attached appendix.

Each of Michael Cairns, Brian Duckworth and James Grace has confirmed that there
is no other information required to be disclosed under paragraph (g) of Schedule
Two of the AIM Rules for Companies.


Novera Energy Limited                                         020 7845 9720
Roy Franklin, Chairman
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, with a portfolio of
landfill gas, waste and wind assets and projects. 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 build the 10MW
East London Sustainable Energy facility at the Ford Motor Company site in


List of Directorships (within the last five years) and current Directorships or
Partnerships for each Director are listed below

James Richard Grace
Current Directorships                Previous Directorships
None                                 UK Land plc
                                     Ray Group (Holdings) Ltd
                                     Ray Group Properties Ltd
                                     J V Developments Ltd
                                     Balangai Developments Limited
                                     Pinkland Limited
                                     UK Housing Society plc

Brian Duckworth
Current Directorships                Previous Directorships
Redrow Homes plc                     Severn Trent Water Ltd
Avon Rubber plc                      Severn Trent plc
White Young Green plc                Severn Trent Water International Ltd
                                     Severn Trent Utility Services Ltd
                                     Severn Trent Senior Staff Pensions Scheme
                                     Chairman Charitable Contributions Committee
                                     Midlands Excellence Ltd
                                     Aquafin NV (Belguim)
                                     Severn Trent Retail Services Ltd

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