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Infinis increased Novera offer unconditional



27 November 2009 @ 03:42 pm BST

Infinis Energy's recommended increased final offer for Novera has been declared wholly unconditional.

The offer was increased after Infinis Energy acquired 5,071,434 Novera shares - about 3.50% of the existing issued share capital - from a single shareholder at 77p per share earlier today (27 November).

Infinis Energy now owns 72,634,035 Novera shares - 50.15% of the existing issued share capital.

The recommended increased final offer represents a premium of approximately 59.6% to the closing middle market price of 48.3p per Novera share on 6 October and 76.0% to the average closing middle market price of 43.8p for the six months up to and including 6 October.

Story provided by Business Financial Newswire

© 2009 BFNNews.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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