Navigation Links
As Released on 30 December, 2011: Novogen Modifies ADR Program and Makes Further Investment Into Marshall Edwards
Date:1/4/2012

SYDNEY, Jan. 4, 2012 /PRNewswire/ -- The Company today announced that it has modified the provisions of its American Depository Receipt ("ADR") program.  The previous conversion ratio of 5 Novogen Limited ordinary shares for each ADR share will now be 25 Novogen Limited ordinary shares for each ADR share.  The change will be effective from 3 January, 2012.  The change in the ADR ratio will have no effect on the number of outstanding common shares the company has on issue or the listing of its common shares on the ASX.

In making the announcement, William D Rueckert, Chairman stated: "The ratio change and resulting increase in the market price for our ADR shares, as listed on NASDAQ, will bring our ADR shares back into compliance with NASDAQ's $1.00 minimum bid price requirement. We believe that continued listing on both the ASX and NASDAQ provides important liquidity on two major exchanges for our shareholders and for the Company."

In a separate transaction, the Company also announced today that it has made an additional investment in its majority owned drug development subsidiary, Marshall Edwards with the purchase 1,941,747 common shares for a total of $2,000,000. The proceeds will support the continued development of Marshall Edward's drug development programs.

About Novogen Limited

Novogen Limited (ASX: NRT, Nasdaq: NVGN, Nasdaq: NVGND) is an Australian biotechnology company based in Sydney, Australia.  Novogen conducts research and development on oncology therapeutics through its subsidiary, Marshall Edwards, Inc., and is developing glucan technology through its subsidiary, Glycotex, Inc.  More information on the Novogen group of companies can be found at www.novogen.com.


'/>"/>
SOURCE Novogen Limited
Copyright©2010 PR Newswire.
All rights reserved

Page: 1

Related biology technology :

1. New Report on 633 Biotechnology Medicines Under Development Released in Michigan
2. Beckman Coulter Announces Fourth Quarter 2008 Earnings to be Released on Monday, February 9, 2009, After Market Closes
3. Beckman Coulter Announces First Quarter 2009 Earnings to be Released on Tuesday, April 28, 2009, After Market Closes
4. New cow genome sequence released
5. GeneCards(R) Version 3.0 Beta Released
6. Nile Therapeutics CD-NP Clinical Program for Acute Heart Failure Released From Clinical Hold by FDA
7. Prescription-Free Digital Hearing Aid Just Released
8. Jatropha Couple Oil Crop Cultivation Technology Commercially Released
9. Sevocity EHR 08 Released With ARRA (Stimulus) Commitment
10. The 2010 Bio-IT World Best Practices Call for Entries has been Released -- Highlight your Company's Excellence in Innovation
11. Novel Imaging Software Released by Celsense Inc.
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/23/2017)... (PRWEB) , ... January 23, 2017 , ... ... replacement at the Caribbean Neurosciences Symposium (CANS) annual meeting in Montego Bay, Jamaica ... technology and host a hands-on workshop for surgeons to experience the simplicity of ...
(Date:1/21/2017)... Jan. 20, 2017 Interpace Diagnostics Group, ... that provides clinically useful molecular diagnostic tests and ... into a securities purchase agreement with three  institutional ... of common stock in a registered direct offering.  ... agreed to sell to the same investors warrants ...
(Date:1/20/2017)... YORK , January 20, 2017 ... current market conditions have influenced the most recent performances ... Therapeutics Inc. (NASDAQ: RGLS ), Abeona Therapeutics ... (NASDAQ: TBPH ), and Sage Therapeutics Inc. ... research report by Grand View Research, global Biotech market size is ...
(Date:1/19/2017)... 19, 2017  Market Research Future has a half cooked research ... Biopsy is growing rapidly and expected to reach USD 450 Million ... ... Biopsy Market has been assessed as a swiftly growing market and ... in the coming future. There has been a tremendous growth in ...
Breaking Biology Technology:
(Date:12/15/2016)... Germany , December 15, 2016 ... provider, today announced an agreement with NuData Security, an ... forces. The partnership will enable clients to focus on good ... local data protection regulation. ... In order to provide a one-stop fraud ...
(Date:12/15/2016)... 15, 2016 Advancements in biometrics ... wellness and wellbeing (HWW), and security of ... new passenger vehicles begin to feature fingerprint ... heart beat monitoring, brain wave monitoring, stress ... and pulse detection. These will be driven ...
(Date:12/12/2016)... , Dec. 12, 2016  Researchers at ... possibilities for graphene by combining the material with ... highly sensitive pressure detector able to sense pulse, ... a small spider.  The research ... can be read here:  http://science.sciencemag.org/content/354/6317/1257 ...
Breaking Biology News(10 mins):