Novera Energy PLC
29 May 2007
29 May 2007
Novera Energy plc
Sixth Announcement of proposed scheme of arrangement -
ADMISSION TO TRADING ON AIM
Transfer of Novera Domicile from Australia to the United Kingdom
Novera Energy plc was admitted to trading on AIM as from 8.00am on 29 May 2007.
Novera Energy plc ('Novera' or 'the Company') is the successor entity to Novera
Energy Limited, a company which has been listed on AIM since June 2005. The
AIM listing of Novera Energy Limited was cancelled simultaneously.
Commenting on today's announcement, Roy Franklin, Chairman of Novera,
said: "Last week's Energy Review emphasised the growing need for UK renewable
power. Novera is the leading quoted company focused on renewable power
generation - the Company has a well-established portfolio of 58 sites across the
UK producing renewable power and a string of potential developments. The
transfer of domicile being announced today is the final step in migrating the
Company to the UK and positioning for growth in this attractive market".
The Directors of Novera are as previously announced, namely Roy Franklin
(Chairman), Michael Cairns, Brian Duckworth, David Fitzsimmons, James Grace and
Scheme of Arrangement
Following implementation of the Scheme, Novera now owns all of the issued shares
in Novera Energy Limited and the existing Novera Energy Limited shareholders
have been allotted one fully paid Ordinary Share in Novera for each share
previously held in Novera Energy Limited. Novera has a total of 123,957,780
Ordinary Shares in issue.
For further information in relation to this transaction, please refer to
previous announcements by Novera which can be viewed on Novera's website at
No funds have been raised as a result of the Scheme. 150,000 options have been
issued by Novera to two past employees of Novera Energy Limited to replace
options previously granted by Novera Energy Limited which have been cancelled.
The options have been issued at the same exercise price other than a conversion
from Australian dollars to pound sterling for 100,000 of the said options.
Novera's nominated adviser is Oriel Securities Limited.
There are no changes to the business of the Novera Group as a result of
implementation of the Scheme. The business activities of Novera are described on
Novera's website at www.noveraenergy.com and are primarily the development of
renewable energy assets including landfill gas, waste and wind projects. These
activities are described further in the scheme booklet and the 2006 annual
report of Novera Energy Limited.
Current trading and prospects
The trading and prospects of Novera are the same as Novera Energy Limited and
Novera 020 7845 9720
David Fitzsimmons, Chief Executive Officer
Rory Quinlan, Chief Financial Officer
Gavin Anderson 020 7554 1400
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
This information is provided by RNS
The company news service from the London Stock Exchange