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:6/12/2019)... EGG HARBOR TOWNSHIP, N.J. (PRWEB) , ... June ... ... premier manufacturer of custom built, helium-based leak testing instruments for the Pharmaceutical, Biotechnology, ... partnership agreement with Shanghai Zillion has been signed. The agreement will grant exclusive ...
(Date:6/11/2019)... ... June 11, 2019 , ... Mytonomy, ... a national leader in opioid treatment, announced today they are partnering to combat ... Mytonomy recently deployed its virtual care platform at the Mayo Clinic to drive ...
(Date:5/31/2019)... (PRWEB) , ... May 29, 2019 , ... For many ... the toughest forms of cancer demand breakthrough therapies. Advances in immuno-oncology have led to ... patient’s own T cells with engineered T cell receptors known as “CARs”. The CAR ...
(Date:5/31/2019)... N.C. (PRWEB) , ... May 30, 2019 , ... ... is the first to demonstrate an efficient delivery system for the sustained release ... injuries. The platelet-rich plasma-based gel system was able to deliver CM into the ...
Breaking Biology Technology:
(Date:7/17/2019)... RAPID CITY, S.D. (PRWEB) , ... July 16, 2019 , ... ... begin to form, or to detect bone loss before it causes osteoporosis. For South ... reality. , “This is potentially a game-changer in terms of our ability to ...
(Date:7/9/2019)... (PRWEB) , ... July 08, 2019 , ... ... ruled in favor of Danisco’s ownership of the innovation behind two Danisco amylase ... an entitlement action could be based on prior art was without merit and ...
(Date:6/20/2019)... ... June 19, 2019 , ... ... the Infectious Diseases Society of America Foundation, and the possibly millions of dollars ... study infectious agents in AD, are a “welcome affirmation” of the need to ...
Breaking Biology News(10 mins):