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Novera Energy PLC (NVE)

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Tuesday 08 December, 2009

Novera Energy PLC

Board Changes

RNS Number : 8032D
Novera Energy PLC
08 December 2009
 



8 December 2009


Novera Energy plc

("Novera" or "the Company")


Board Changes


The Board of Novera is pleased to announce the appointment of Lord Birt as Chairman and Quentin Stewart  and Damian Darragh as directors of the Company, effective today.


Novera has today received notification from Infinis Energy Limited that it now either owns, or has received valid acceptances for its Recommended Increased Final Offer in respect of, in aggregate, 120,066,346 Novera Shares representing approximately 82.90 per cent. of the issued share capital of Novera.  Consequently  the Board announces the following changes, also effective today:


  • Roy Alexander Franklin, OBE stands down as Chairman and retires from the Board;

  • Michael Anthony Cairns, OBE retires from the Board;

  • Brian Duckworth, OBE retires from the Board;

  • James Richard Grace retires from the Board;

  • John Hewson retires from the Board; and

  • Richard Round retires from the Board.


Richard Round and John Hewson will continue in a non board capacity in their roles as Acting Chief Executive and Operations Director respectively.


Lord Birt, aged 64, joins Novera as Chairman. He currently also serves as Chairman of Maltby Capital  Limited  and as a non-executive director to Infinis Capital LimitedPayPal (Europe) and Eutelsat Communications. Lord Birt was formerly Chairman of Infinis Limited (2006) and of Waste Recycling Group Limited (2006), the Prime Minister's Strategy Adviser (2000 - 2005) and BBC Director-General (1992 - 2000). 


Quentin Stewart, aged 41, joins Novera as a director. He is currently Financial Managing Director of Terra Firma Capital Partners Limited, and a director of the Boards of various Infinis group companies. Quentin was formerly with Arthur Andersen and is a Chartered Accountant.


Damian Darragh, aged 38, joins Novera as a director. He is currently a Transaction Director of Terra Firma Capital Partners Limited and a director of the Boards of various Infinis group companies.


Further details of their current and previous directorships can be found in the appendix of this announcement.



For further information:


Novera Energy plc

Richard Round, Acting Chief Executive Officer / Finance Director

Tel: +44 (0) 20 7845 9720


Oriel Securities Limited (Nominated Adviser)

Michael Shaw / James Nevin

Tel: +44 (0) 20 7710 7600


Kreab Gavin Anderson & Company (PR)

Ken Cronin / Kate Hill / Michael Turner / Andy Jones

Tel: +44 (0) 20 7554 1400


Notes to Editors:


Novera Energy plc

Novera is a leading independent UK renewable energy company, with a portfolio of landfill gas, hydro and wind assets and development projects. The Company has 148MW of renewable power generation capacity at 58 sites. Novera employs over 160 members of staff. For more details, visit

www.noveraenergy.com


Appendix


Under Schedule 2, paragraph (g) and Rule 17 of the AIM Rules for Companies, the following information is disclosed in relation to Lord Birt, Quentin Stewart and Michael Damian Darragh in addition to the information above and is correct as at 8 December 2009:


Full Name: Lord John Birt

Age: 64


Current directorships:

PayPal (Europe) SCA

Eutelsat Communications SA

Infinis Capital Limited

Infinis Investments Limited 

Maltby Capital Limited


Previous directorships in last five years:

Infinis Limited

Waste Recycling Group Limited

Lynx Capital Ventures



Full Name: Quentin Stewart

Age: 41


Current directorships:

Anchor Brewhouse Consultancy Limited

Kellen Investments Limited

Kellen Acquisitions Limited

Infinis Investments 2 Limited

Kellen Capital Limited

Infinis Energy Limited

Infinis Guarantee Company Limited

Infinis Operations 1

Infinis Operations 2

Infinis Energy Holdings Limited

Infinis Wind (Greengairs) Limited

Infinis Wind Holdings Limited

Infinis Acquisitions

Infinis Finance Plc

Infinis Holdings

Infinis Investments Limited

Infinis Capital Limited


Previous directorships in last five years:

Box Clever Technology Limited

Interactive Hotel Services Holdings Plc

Thorn Finance Limited

Carmelite Finance Limited

Carmelite Investments Limited

Carmelite Property Management Limited




Full Name: Michael Damian Darragh

Age: 38


Current directorships:

Infinis Acquisitions

Infinis Finance Plc

Infinis Capital Limited

Infinis Energy Limited

Infinis Guarantee Company Limited

Infinis Operations 1

Infinis Operations 2

Infinis Energy Holdings Limited

Infinis Wind (Greengairs) Limited

Infinis Wind Holdings Limited


Previous directorships in last five years:

Infinis Limited



Other than the information contained within this announcement, there is no further information required by Schedule 2, paragraph (g) or Rule 17 of the AIM Rules for Companies to be disclosed with regards to Lord Birt, Quentin Stewart and Michael Damian Darragh.


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