Noventa Limited ("Noventa" or the "Company") - Directorate Appointments

TORONTO, April 15 /CNW/ - Noventa is pleased to announce the appointment of Mr. Ian David Benning and Prof. Lars Göran Berglund as Directors of the Company.

Mr. Benning, 47, who resides near Johannesburg and is a dual British and South African citizen, is an experienced professional mining engineer with three decades of experience in the African mining industry. This experience has been gained in the operational mining, mining equipment and mining finance sectors.  Mr. Benning has recently been appointed to the head of the South African operations of Hemisphere Corporate Services, a Perth-based private company that has a wide range of mining related interests.  Immediately prior to this, he served as an investment adviser to the Johannesburg office of African Global Capital, a private equity investor into the African mining industry.   Previously he has worked for such major corporations as Absa Capital (part of Barclays Group), Rand Merchant Bank and Anglo American Group.

Mr. Benning is a Registered Professional Engineer in South Africa and is an Associate of the South African Institute of Mining and Metallurgy.  He holds a MBA from Henley Management College and a BSc in Engineering (Mining) from University of Witwatersrand.

Mr. Berglund, 69, is a Professor of Medicine at Lund University, Sweden, as well as Chairman and controlling shareholder of West Air Europe AB, an air cargo group with an annual turnover of more than €70m.

Commenting on the appointment, Eric Kohn, Chairman of Noventa said: 

"We are delighted to welcome Ian and Goran to the Board of Noventa.  Ian's broad experience of various aspects of the African mining industry will be invaluable, while we look forward to benefitting from Prof. Berglund's wisdom and experience." 

Disclosures in Relation to Schedule 2 of the AIM Rules

Other than his appointment to the Board of Noventa, Mr. Benning is not currently a director (or partner in a partnership) in any other company.  During the last five years, Mr. Benning has been a director of Peterstow Aquapower (Pty) Ltd, Peterstow Aquapower Swaziland (Pty) Ltd and Peterstow Holdings Ltd (Mauritius).

Mr. Benning does not currently own any shares in Noventa.

There are no further disclosures to be made in accordance with rule 17 and or Schedule Two (g) of the AIM Rules for Companies of the London Stock Exchange in connection with Mr. Benning's appointment.

Other than his appointment to the Board of Noventa, Prof. Berglund is currently a director (or partner in a partnership) in the following companies:

Atlantic Airlines Ltd
European Aviation Maintenance Ltd
European Turboprop Management AB
Prostalund AB
West Air Europe AB
West Air Holding AB
West Air Luxembourg AS
West Air Sweden AB

During the last five years, Prof. Berglund has been a director (or partner in a partnership) in the following companies:

Ambea AB
Biolin AB
Hansa Medical AB

Prof. Berglund holds 115 095 ordinary 0.8p shares in Noventa ("Ordinary Shares") and holds 1,925,000 warrants (received at the time of making subscriptions for previous placings in Noventa Ordinary Shares) in Noventa that would be exercisable into 96,250 Ordinary Shares.

There are no further disclosures to be made in accordance with rule 17 and or Schedule Two (g) of the AIM Rules for Companies of the London Stock Exchange in connection with Prof. Berglund's appointment.


Certain information contained or incorporated by reference in this release, including any information as to the Noventa's strategy, projects, plans, prospects, future outlook, anticipated events or results or future financial or operating performance, constitutes "forward-looking statements" within the meaning of Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements can often, but not always, be identified by the use of words such as "plans", "expects", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "predicts", "potential", "continue" or "believes", or variations (including negative variations) of such words; or statements that certain actions, events or results "may", "could", "would", "should", "might", "potential to", or "will" be taken, occur or be achieved or other similar expressions concerning matters that are not historical facts. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made or incorporated in this press release are qualified by these cautionary statements.

Forward-looking statements are necessarily based on a number of factors, estimates and assumptions that, while considered reasonable by Noventa as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Readers are also cautioned that forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Noventa to differ materially from those expressed or implied in the forward-looking statements. Certain of these risks and uncertainties are described in more detail in Noventa's Annual Information Form dated March 15, 2010, which is available on SEDAR at

Although Noventa has attempted to identify statements containing important factors that could cause actual actions, event or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein are made as of the date of this document based on the opinions and estimates of management on the date statements containing such forward looking information are made, and Noventa disclaims any obligation to update any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward looking information.

SOURCE Noventa Limited

For further information:

Eric F. Kohn TD
Noventa Limited
+41 22 8500560
+41 79 5030150

Nick Harriss/Emily Staples
Religare Capital Markets (Nomad and PLUS Corporate Adviser)
+44 20 7444 0800

Andrew Chubb/Kit Stephenson
Canaccord Genuity Limited (Broker)
+44 20 7050 6500

Daniel Briggs
Religare Capital Markets (Broker)
+44 20 7444 0500

In Canada
Joe Racanelli
416 815 0700 ext. 243 or

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