Novera Energy Share Discussion Threads

[robson1974] 15/10/2009 13:21

15 October 2009

Novera Energy plc
("Novera" or the "Company")


Statement of shareholder support


On 13 October 2009, the Board of Novera announced that it continues to believe that the 62.5 pence per share unsolicited, mandatory cash offer from Infinis Energy Limited (the "Offer") substantially undervalues the Company and recommends that Novera Shareholders take no action and reject the Offer.


Novera is pleased to announce that it has subsequently received letters of support ("Letters of Support") from Novera Shareholders holding, in aggregate, 46,589,699 ordinary shares of 5 pence each in the capital of the Company ("Ordinary Shares"), representing approximately 32.2 per cent. of the existing issued share capital of the Company. These shareholders have each stated that the Offer substantially undervalues Novera and that they support the Novera Board in rejecting the Offer.


Commenting, Roy Franklin, Chairman, said, "We are delighted to have received this strong and public support from our top institutional shareholders. This only strengthens the Board's resolve in rejecting this cheap and opportunistic offer."


Novera Shareholders are strongly advised to ignore any documents that may be issued by Infinis Energy Limited or its advisers and not to sell their Novera Shares.


Further details of the Letters of Support are set out below:


Novera Shareholder




Number of Ordinary Shares held


Percentage of existing issued share capital of Novera

Harrier Acquisitions Limited


12,406,392


8.57%

Aviva Investors


10,005,867


6.91%

Caledonia Investments plc


8,249,869


5.70%

Ennismore Fund Management


5,600,000


3.87%

Jupiter Asset Management Limited


5,038,066


3.48%

Guinness Atkinson Asset Management Inc


2,845,155


1.96%

Guinness Asset Management Limited


94,350


0.07%

Allianz Insurance PLC


2,350,000


1.62%

[sbs] 14/10/2009 10:30

This has all the signs of going up further, but sold out anyway this morning as I'd doubled my money already. Several failed bid attempts in the past, and if this one goes wrong, it may go down first - and then of course I'll be back in.

[a0148009] 09/10/2009 09:18

From yesterday's Evening Standard - Hands will have to pay up.



AO

[a0148009] 07/10/2009 16:33

Peel Hunt say view - a cheeky bid fair value 80-85p.

AO

[a0148009] 07/10/2009 11:07

Will be interesting to see what happens now - do not think they would get much of a majority of acceptances at this level so expect some tough negotiating for an agreed bid. As they have bid 90p before would expect more action. A defence
would be for Novera to sell off the landfill generation business and continue to develop windfarms or sell off both parts independently.

AO

[julcester] 07/10/2009 10:39

Even SEA will be at play now. Crown estate about to announce another offshore wind farm award there. 3rd in a year.

[praipus] 07/10/2009 10:36

Agressive takeover's also likely at REH and RWE IMHO.

[julcester] 07/10/2009 07:56

rejected. Good to see.

[a0148009] 07/10/2009 07:50

They are worth more than 62.5p previous offer was 90p some time ago and the company is now bigger and better. Unfortunately bidder has 43% so they may nick it. Edit

AO

[sbs] 01/10/2009 12:59

There's been an overhang for a bit from the two bidders. But the volumes are pretty good.

Heading up to resistance again at around 47p. Could be fun when it breaks through.

[julcester] 01/10/2009 12:53

3i made a bid here last year if I recall correctly (or someone made an approach.)

[empirestate] 30/9/2009 16:54

about time we saw some upside here and positively on relatively small amount of buys

[praipus] 30/9/2009 14:16

RWE rising on £67M cash from sales of Candian WindFarm interests. CWP and HSN in play.....who's next?

[hyper al] 23/9/2009 23:38

No, but still watching

[empirestate] 23/9/2009 23:37

blimey it's quiet here, anyone know when the next stats are due

[empirestate] 25/8/2009 07:29

sbs hopefully the trade yesterday have also eased the position, just need some retail buying to test it

[sbs] 21/8/2009 07:26

Probably one buy and one sell. Still, it's confirming price just below resistance. My guess is now that the next big move will be up (barring stock market melt down, of course!)

[empirestate] 20/8/2009 21:59

looks like still have some weight on the sp, otherwise 2 x 200k buys would have moved the sp, will have to wait

[empirestate] 07/8/2009 11:15

2m of stock of tudor was snapped up at 46, price pressure released imo

[sbs] 03/8/2009 22:29

This share has had some big sellers for a long time. When they run out of shares to sell, even simple technical analysis will show the break out - and who knows where the next seller will be.

[empirestate] 03/8/2009 20:51

looks like a clear out here this morning, better keep a track of the trade in ng days to see if there is more to go

[fl4nders] 02/6/2009 21:00

"The fact we live in the windiest country in Europe is a boost for Novera Energy. Funding is in place, the development pipeline is strong and the management team has a good track record of obtaining planning permissions...."

[fl4nders] 01/6/2009 16:20

Good article Neil. This was also tipped last week.

[neillp] 01/6/2009 12:19

- Novera article published today. You need to register but it's free.