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Nova Resources Ltd Announces Disposal And Acquisition Of Investments

Tuesday, 17 Sep 2013 02:33am EDT 

Nova Resources Ltd announced that it has agreed to sell its entire investment holding of 21,415,861 ordinary shares in European Islamic Investment Bank Plc at a price of GBP0.031 for a total consideration of GBP663,892 to Pearce Global Investments Limited. EIIB provides Sharia compliant investment banking and services and its shares are traded on AIM Market of the London Stock Exchange. The consideration is to be paid and discharged by the transfer of warrants over 9,000,000 ordinary shares in the share capital of Tricor Plc, with an exercise price of 0.5p, to be exercised at Nova's discretion by 31 December 2017. The parties have agreed that the Warrants are priced at 7.38p each, which represents a premium to Tricor's current share price of 6.5p per ordinary share. Tricor is an investment company focussed on the natural resources sector and its shares are also traded on the AIM market of the London Stock Exchange. The board of Nova intend for the Warrants to be retained for the foreseeable future. 

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