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The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

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Novera Energy PLC (NVE)

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Wednesday 25 November, 2009

Novera Energy PLC

Response to the revised Infin

RNS Number : 0444D
Novera Energy PLC
25 November 2009
 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.


FOR IMMEDIATE RELEASE


25 November 2009



Novera Energy plc 

("Novera" or the "Company")


Response to the revised Infinis Offer 


The Novera Board notes the announcement made by Infinis that it has acquired 5,600,000 Novera Shares from a single Shareholder, representing approximately 3.9 per cent. of the existing share capital of Novera at a price of 75 pence per Novera Share. Consequently, pursuant to Rule 6.2 of the City Code, Infinis has now announced a revised offer of 75 pence per Novera Share (the "Revised Offer"). The Novera Board recognises that the Revised Offer is substantially higher than the original Infinis Offer of 62.5 pence per Novera Share.  


The Novera Board is considering the Revised Offer and a further announcement will be made shortly. In the meantime, Novera Shareholders should take no action in respect of the Revised Offer. 


Enquiries:


Novera Energy plc

Roy Franklin, Chairman

Richard Round, Acting Chief Executive Officer / Finance Director

Tel: +44 (0) 20 7845 9720


Hawkpoint Partners Limited (Joint Financial Adviser)

Rupert Newall / Alastair Rogers / Andreas Zapf    

Tel: +44 (0) 20 7665 4500


Oriel Securities Limited (Joint Financial Adviser, Nominated Adviser and Broker)

Richard Crawley / Michael Shaw

Tel: +44 (0) 20 7710 7600


Kreab Gavin Anderson (PR)

Ken Cronin / Kate Hill / Michael Turner

Tel: +44 (0) 20 7074 1800


Words and expressions defined in the circular to Novera Shareholders dated 26 October 2009 shall have the same meanings in this announcement. A copy of this announcement is available at the website of the Company at www.noveraenergy.com/announcements.php.


The Novera Directors accept responsibility for the information contained in this announcement, except that the only responsibility accepted by them in respect of the information contained in this announcement relating to Infinis, which has been compiled from published sources, is to ensure that such information has been correctly and fairly reproduced and presented. To the best of the knowledge and belief of the Novera Directors (who have taken all reasonable care to ensure that such is the case) the information contained in this announcement for which they are responsible is in accordance with the facts and does not omit anything likely to affect the import of such information.


Hawkpoint, 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 Offer and will not be responsible to anyone other than Novera for providing the protections afforded to clients of Hawkpoint or for providing advice in connection with the Offer.


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 Offer and will not be responsible to anyone other than Novera for providing the protections afforded to clients of Oriel Securities or for providing advice in connection with the Offer.


Forward looking statements


This announcement contains certain forward looking statements with respect to the financial condition, results of operations and business of Novera or the Novera Group and certain plans and objectives of the Board of Novera. These forward looking statements can be identified by the fact that they do not relate to historical or current facts. Forward looking statements often use words such as "anticipate", "target", "expect", "estimate", "intend", "plan", "goal", "believe", "will", "may", "should", "would", "could" or other words of similar meaning. These statements are based on assumptions and assessments made by the Board of Novera in the light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe appropriate. By their nature, forward looking statements involve risk and uncertainty and the factors described in the context of such forward looking statements in this announcement could cause actual results and developments to differ materially from those expressed in or implied by such forward looking statements.


Should one or more of these risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this announcement. Except as required by the Financial Services Authority, the London Stock Exchange, the AIM Rules or any other applicable law or regulation, Novera assumes no obligation to update or correct the information contained in this announcement.


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 Infinis 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
 
END
 
 
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