Market Overview

Novogen Applies for Long-Term Options Listing on ASX


Novogen Limited (NASDAQ: NVGN) today announced that it will apply for the listing of the Long-Term Options on ASX and anticipates that this request will be granted within the next week. An Appendix 3B has been released to the market in conjunction with this announcement.

The Long-Term Options were offered as part of the Company's rights entitlement offer announced on 21 April 2015 (Rights Issue).

On 4 June 2015, as a result of the Rights Issue, including the shortfall, the Company issued:

• 58,971,151 ordinary shares;
• 58,971,151 unlisted options, with an exercise price of $0.30 per option and expiring on 4 December 2015 (Short-Term Options); and
• 29,485,999 unlisted options, with an exercise price of $0.40 per option and expiring on 4 June 2020 (Long-Term Options).

Acting CEO, Iain Ross, said the listing of the Long-Term Options would be a benefit to the shareholders who had supported the Company during the Rights Issue and thanked them for their ongoing support.

Options holders will be able to trade the securities on ASX, once the quotation is granted.

"The Company is now in a strong financial position to drive our lead drug candidates through their final requisite pre-clinical safety programs and ultimately into Phase 1 clinical trials, as quickly and as thoroughly as possible," Mr Ross said.

"Having determined the Company's top priorities, we are continuing to focus our valuable resources to achieve high value opportunities in a highly competitive market place and deliver value for shareholders," Mr Ross said.

Posted-In: News Options Markets


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