10/06/2005 Novera Energy opens the London markets
Novera Energy Limited opens the London markets
10 June 2005
Novera Energy is a diversified renewable energy business with a focus in the UK and selected European countries. The company has raised approximately £5.3 million through a Placing of 9,189,044 Ordinary Shares to UK institutional and professional investors at 58 pence per share in order to fund new investments. On admission to AIM, the Company has a market capitalisation at the Placing price of approximately £31.8 million.
Novera Energy was established in Australia in 1998 and listed on the Australian Stock Exchange (ASX) in 2002. Following admission to AIM, shares in the company will be listed on both AIM and ASX and traded between the two markets. Novera has used the fast-track Designated Markets route to join AIM.
Novera is focused on the higher return areas of the renewable energy sector, which are currently wind power, small hydro power and generation of electricity from methane gas extracted from land fill sites. The company benefits substantially from the recognition by Governments of climate change, and the subsequent regulation of the forces contributing to climate change.
Novera’s Chairman, Dr Don Stammer said: “We are delighted to be joining AIM today, with the support received from investors in the UK and to welcome John Brown to the Board. Today is an important milestone for Novera. Novera’s assets and core business are concentrated in the UK and Europe. The AIM listing will assist us in developing our business as we strive to become one of Europe’s leaders in the generation of renewable energy.”
Oriel Securities is acting as nominated adviser and broker to the Company.