EXHIBIT 99.1
Published on November 3, 2005
Exhibit 99.1
[LOGO OF NOVELIS]
MEMORANDUM
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To: Directors and Executive Officers of Novelis Inc.
From: David Kennedy
Date: November 2, 2005
Re: Notice of Blackout Period
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Novelis Inc. (the "Company") has adopted the Novelis Savings & Retirement Plan
(the "Novelis Savings Plan") and will be transitioning its employees from the
Alcancorp Employees' Savings Plan (the "Alcan Savings Plan") to the Novelis
Savings Plan. As a result, there will be a blackout period during which
employees of the Company who participate in the Alcan Savings Plan will be
temporarily restricted from requesting loans, withdrawals or distributions,
making fund exchanges (transfers) or contribution allocation changes, or
checking account balances while plan records are transitioned to the Novelis
Savings Plan.
The blackout period is expected to be in effect beginning at 4:00 p.m. Eastern
time on December 2, 2005 and ending during the week of December 11, 2005. During
the blackout period, you may obtain information regarding whether the blackout
period has begun or ended by contacting David Kennedy at the phone number or
address below. You will be informed if the timing of the blackout period
changes.
As a director or executive officer of the Company, you are subject to the
restrictions imposed by Section 306(a) of the Sarbanes-Oxley Act of 2002, which
prohibits certain transactions involving Company securities during the blackout
period. Subject to certain exceptions, during the blackout period, you are not
permitted to, directly or indirectly, purchase, sell or otherwise acquire or
transfer any equity securities of the Company that you acquired in connection
with your service or employment as a director or executive officer.
In addition, all transactions still remain subject to the provisions of the
Company's insider trading policy. As a reminder, executive officers and
directors of the Company are currently under a blackout period until November
16, 2005 (relating to the quarterly earnings announcement for the third quarter)
and directors are under another blackout period from November 24, 2005 to
December 5, 2005 (relating to the December board meeting).
If you have any questions regarding this notice or whether a transaction
involving Company securities is prohibited during the blackout period, please
contact David Kennedy by phone at 416-304-0423 or by mail at Novelis Inc., 70
York Street, Suite 1510, Toronto, Ontario, M5J 1S9.