Noventa Limited ("Noventa" or the "Company") - Issue of Equity

TORONTO, Jan. 18 /CNW/ - The Company has today issued 330,670 ordinary 0.04p shares ("Ordinary Shares") at a price of 10.70 pence per share to certain members of the current Board of Directors and to a consultant to the Company who have elected to receive a proportion of their remuneration from Noventa in the form of new Ordinary Shares (the "Remuneration Shares").  These payments are calculated quarterly and the Remuneration Shares are issued at a price equivalent to the average of the closing mid-market price for the 30 days prior to the end of the quarter. Of the Remuneration Shares, the following were issued to Directors of the Company for the quarter ending 31 December 2010:

The following table sets out details of Director's Shareholdings (as defined in the AIM Rules) of the Company following the issue of the Remuneration Shares.

* These shares are held by Barons Financial Services Limited, a company in which Mr. Kohn has a beneficial interest.

** These shares are held by Ekasure Limited, a company in which Mr. Allan has a beneficial interest

*** 5,500,000 of these shares are held by a family trust of which Mr. Chung is a potential beneficiary

The following table sets out details of Significant Shareholders (as defined in the AIM Rules) of the Company, to the extent that the Company is aware, following the issue of the Remuneration Shares.

# Highland African Ventures Limited is owned by a trust whose trustee is Fleming Family & Partners Liechtenstein and Mr. R J Fleming is one of the potential beneficiaries. Fleming Family & Partners Liechtenstein has a total interest, including through Highland African Ventures Limited, in a total of 89,203,154 shares (17.67% of the issued shares). Mr. R J Fleming has an interest, including through Highland African Ventures Limited, in a total of 85,208,892 shares (16.88% of the issued shares).  

An application has been made to admit the Remuneration Shares to trading on AIM, with trading expected to commence on 24 January 2011.

Following admission to trading of the Remuneration Shares, the Company will have 504,743,035 Ordinary Shares in issue and following the issue of all of the 9,953,171 Additional Subscription Shares (as defined in the Company's 'Issue of Equity' announcement of 3 September 2010) the Company will have 514,696,876 Ordinary Shares in issue. The Company does not hold any Ordinary Shares in treasury.

SOURCE Noventa Limited

For further information:

Eric F. Kohn TD
Chairman
Noventa Limited
+41 22 8500560
+41 79 5030150
www.noventa.net  

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

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

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