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Novera Energy PLC (NVE)

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Friday 30 May, 2008

Novera Energy PLC

Response to Panel Announcemen

RNS Number : 6836V
Novera Energy PLC
30 May 2008
 




Novera Energy plc ("Novera" or the "Company")

Novera Response to Panel Announcement

 


The Board of Novera notes today's announcement by the Takeover Panel setting out provisions relating to announcements made before 5.00pm on 2 June 2008 by either Harrier Acquisitions Limited (a wholly owned subsidiary of 3i Infrastructure Limited) and Infinis Acquisitions Limited.


The Board of Novera, which is being advised by Oriel Securities Limited, continues to recommend shareholders to take no action at this time.



For further information, please contact:


Oriel Securities Limited (Financial Adviser, Nominated Adviser and broker to Novera Energy plc)

020 7710 7600

Adrian McMillan / Michael Shaw




Gavin Anderson (PR)

020 7554 1400

Ken Cronin / Kate Hill



Oriel Securities Limited ("Oriel Securities"), which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting for Novera and no-one else in connection with the matters referred to herein and will not be responsible to anyone other than Novera for providing the protections afforded to clients of Oriel Securities or for giving advice in relation to such matters.

Dealing Disclosure Requirements

Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of Novera, all "dealings" in any "relevant securities" of that company (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3.30 p.m. (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of Novera, they will be deemed to be a single person for the purpose of Rule 8.3.

Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of Novera by the potential offeror or by Novera, or by any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction.

A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk.

"Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.

Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel.



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