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:6/27/2016)... CLEVELAND , June 27, 2016  Global ... average 4.6 percent through 2020 to $7.2 billion.  ... (food and beverages, cleaning products, biofuel production, animal ... and biotechnology, diagnostics, and biocatalysts). Food and beverages ... gains driven by increasing consumption of products containing ...
(Date:6/27/2016)... ... 2016 , ... Parallel 6 , the leading software as a service ... Virtual Patient Encounter CONSULT module which enables both audio and video telemedicine communication ... , Using the CONSULT module, patients and physicians can schedule a face to face ...
(Date:6/27/2016)... , June 27, 2016   Ginkgo Bioworks ... to industrial engineering, was today awarded as one ... selection of the world,s most innovative companies. Ginkgo ... scale for the real world in the nutrition, ... engineers work directly with customers including Fortune 500 ...
(Date:6/24/2016)... ... 2016 , ... Researchers at the Universita Politecnica delle Marche in Ancona combed ... pleural mesothelioma. Their findings are the subject of a new article on the Surviving ... signposts in the blood, lung fluid or tissue of mesothelioma patients that can help ...
Breaking Biology Technology:
(Date:5/24/2016)... facilitates superior patient care by providing unparalleled technology to leaders of the medical imaging ... product recently added to the range of products distributed by Ampronix. Photo ... ... ... News ...
(Date:5/3/2016)... 2016  Neurotechnology, a provider of high-precision biometric ... Biometric Identification System (ABIS) , a complete system ... ABIS can process multiple complex biometric transactions with ... fingerprint, face or iris biometrics. It leverages the ... MegaMatcher Accelerator , which have been used ...
(Date:4/19/2016)... 2016 The new GEZE SecuLogic ... web-based "all-in-one" system solution for all door components. It ... the door interface with integration authorization management system, and ... The minimal dimensions of the access control and the ... installations offer considerable freedom of design with regard to ...
Breaking Biology News(10 mins):