Intention to buy in the 2008 convertible bond for cancellation
7 November
2007
Novae Group plc
("the Group")
Intention to buy in the 2008 convertible bond for cancellation
Novae has a £50 million (nominal value) convertible bond ("the
Convertible") in issue with a final maturity date of 15 December
2008.
In April 2007, when Novae issued its 2017 sterling bond, the Group
said that it had identified part of the proceeds as available for the
final redemption or early buy-back and cancellation of the
Convertible. It repeated this intention in its interim results
published on 14 September 2007.
Accordingly, Novae confirms that it is prepared to buy-back some or
all of the convertible, subject to price and terms, for cancellation.
This announcement confirms the Group's willingness, subject to
contract, to buy back some or all of the Convertible and does not,
nor is it intended to, constitute an offer to purchase nor a
solicitation of an offer to sell, any particular Convertible(s) in
issue at any particular price or on any particular terms.
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For further information:
Matthew Fosh - Novae Group plc 020 7903 7300
Nick Miles - M:Communications 020 7153 1535
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