TIDMNOVA

RNS Number : 5443Z

Nova Resources Limited

12 December 2014

NOVA RESOURCES LIMITED

("Nova" or the "Company")

12 December 2014

Board Changes, Appointment of Nominated Adviser and Update on Investments

Board Changes

The Company announces that Chan Fook Meng has resigned from the Board with immediate effect. Christopher Morgan, currently non-executive director, will assume the role of Chairman of the Company. Ajay Rajpal has been appointed as a non-executive director of the Company with immediate effect.

Brief details on the new director are as follows:

Ajay Rajpal ACA Non-Executive Director

Ajay is a Chartered Accountant, with a broad-ranging commercial experience developed through an international career with blue chip companies, having had extensive experience in the US, Europe, Middle East and Far East, with a particular expertise in M&A, financial management and insolvency/restructuring. Recent work experience has focussed on providing Board representation and finance director services for AIM-quoted and private companies based in the Far East. Ajay is a non-executive director of New Trend Lifestyle Group Plc and Zibao Metal Recycling Holdings Plc, and non-executive chairman of MNC Strategic Investments Plc.

Appointment of Nominated Adviser

SPARK Advisory Partners Limited has been appointed as the Company's nominated adviser with immediate effect.

Update on Investments

Further to the interim announcement on 30 September 2014, the Company has received an interim repayment of $289,384 from Enerstry Group Ltd ("EG") of the unsecured loan of $806,480 provided to EG in January 2014. A further amount is expected to be received shortly, with the balance of the loan (and interest) due to be repaid by the end of the 2015. Progress with the investment in EG has been slower than expected, and the Board will continue to seek investments in line with the Company's approved investing policy.

The following information is given in accordance with paragraph (g) schedule Two, the AIM Rules for Companies:

Full name and age:

Ajay Kumar Rajpal, ACA (aged 45)

Current Directorships/Partnerships:

Zibao Metals Recycling Holdings PLC

New Trend Lifestyle Group PLC

MNC Strategic Investments PLC

NAS Corporate Services Limited

Brookmans Park Roads Limited

Past Directorships/Partnerships (previous 5 years)

Tricor PLC

Tricor Supply Side Carbon Limited

Green Fuel Tech Limited

Premier Investment Consultancy FZE

Shareholding

NAS Corporate Services Ltd (a company owned and controlled by Mr Rajpal) currently holds 1,125,000 shares in Nova (representing 0.29 per cent of the issued share capital). In addition NAS Corporate Services Ltd holds 5,500,000 warrants (500,000 of which are exercisable at 1.5p and 5,000,000 exercisable at 1p) and has an agreement to acquire a further 10,000,000 warrants of 1p (which vest in January 2015 and January 2016). In addition NAS holds a convertible loan note for GBP31,500 (which is repayable in December 2014 or convertible into 3,150,000 new ordinary shares in the Company at NAS' option).

Other

There is no other information required to be included in accordance with paragraph (g) of Schedule Two of the AIM Rules for Companies.

.

Enquiries:

   Nova Resources Limited                                                                 07966 332232

Christopher Morgan, Chairman

   SPARK Advisory Partners Limited (Nominated Adviser)            0203 3683554

Neil Baldwin/Mark Brady

This information is provided by RNS

The company news service from the London Stock Exchange

END

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