SYDNEY, April 27, 2015 /PRNewswire/ -- US-Australian drug
discovery company, Novogen Limited (NRT: ASX; NVGN: NASDAQ)
(Company), announced last week that it lodged a prospectus
with ASIC on 23 April 2015 relating
to its pro rata non-renounceable rights issue (Offering).
The prospectus has been posted on its website and notices to
shareholders and optionholders have been dispatched as required
under the ASX Listing Rules. Copies of the notices to shareholders
and optionholders are available on the Company's website at
www.novogen.com.
This announcement intends to bring certain key matters and
important dates to the attention of shareholders and to the market
generally.
All dates and time in this announcement are to Sydney Australia date and time.
If you wish to buy shares which carry rights to participate
in the Offering they must be bought on or before ASX closes
tomorrow afternoon, 4pm on
28 April 2015.
This is because Wednesday 29th April 2015 is the "ex date" (the day on
and from which any transfers of Novogen shares will not include
rights to participate in the Offering).
Friday 1st May
2015 is the Record Date. Investors recorded as
shareholders at 7pm on that day will
qualify to participate in the Offering. If you are an optionholder
wishing to participate in this Offering in respect of your options,
you would need to exercise those options and pay (in cleared funds)
for the resulting shares before this time.
The Offering is being made pursuant to a Prospectus dated and
lodged with the Australian Securities & Investments Commission
(ASIC) on 23 April 2015. The
Prospectus has been lodged with ASX and is available from ASX's
website at www.asx.com.au under the code "NRT". The Prospectus,
copies of the notices posted to shareholders and optionholders in
relation to the Offering, and a general information sheet can also
be obtained from the Novogen website, www.novogen.com/prospectus.
Neither ASIC nor ASX takes any responsibility for the contents of
the Prospectus.
US investors
US residents should note that the Prospectus has not been
registered with the SEC and therefore is only intended for
Australian and New Zealand
residents.
Certain US residents who are holders of ASX quoted shares and
are also institutional "accredited investors" (as defined in Rule
501(a)(1), (2), (3), (7) and (8) under the U.S. Securities Act of
1933) may be eligible to take shares under this Offering.
The Offering is not open to investors who only hold the
Company's securities that trade on NASDAQ in the form of ADSs.
If a US entity believes it may be eligible, it should obtain
professional advice or contact:
Dr Graham Kelly
Email:
graham.kelly@novogen.com
Phone: +61 (0) 429 854 390
If a US investor is eligible, it should complete the US Investor
Certificate (www.novogen.com/pdf/investor-certificate.pdf) and
return it with their Entitlement and Acceptance Form and
application money.
Graham Kelly, Novogen CEO and
Executive Chairman, said, "This rights issue, in conjunction with
the recent Placement, is intended to give the Company 2 years of
funding to underpin its strong growth strategy."
"A successful capital-raising at this time takes away the future
uncertainties of the market at such a critical time in the
Company's development. With some years before we expect to be
generating revenue, we have opted for certainty at a time of strong
market sentiment for the Company specifically and the biotech
sector generally."
"By the start of 2015, just two short years after we had
started, we had spent approximately $10
million developing two new drug technology platforms to the
point where we had a good understanding of their potential and had
identified 3 lead oncology drug candidates. That speed and that
relatively low cost is testament to the capacity and dedication of
this Company's staff."
"The Board believes that we now have a responsibility to our
shareholders to maximise the opportunities on offer. We will only
be taking steps we are confident of taking, but neither will your
executive be risk-averse by looking for slow, organic growth. We
believe that two exciting new drug technology platforms give us an
extraordinary opportunity for growth. The task now is to grow into
that opportunity."
"Over the next 2 years, the Company needs an additional
$60 million in funding to help bring
drug candidates into the clinic for the identified opportunities of
treatment of malignant ascites, malignant pleural effusion,
malignant melanoma, castrate-resistant prostate cancer,
glioblastoma, medulloblastoma, diffuse intrinsic pontine glioma,
neuroblastoma, brain damage, SanFilippo Syndrome and muscular
dystrophies. Our objective with this current capital-raise is to
ensure that we will be in or close to being in the clinic for as
many of these indications as it believes it reasonably can within
the next 2 years without worrying about funding," Kelly said.
The securities offered pursuant to the Prospectus will only be
issued on the basis of the Entitlement and Acceptance Form
accompanying the Prospectus that is scheduled for despatch to
eligible shareholders on 6 May 2015
and only after the expiry of the exposure period contemplated by
section 727(3) of the Corporations Act 2001 (Cth).
Any person who wishes to apply for securities under this
Offering will need to complete an Entitlement and Acceptance
accompanying the Prospectus. No Entitlement and Acceptance Form
will be accessible electronically.
All interested applicants should read the Prospectus in its
entirety before deciding whether to acquire securities under this
Offering.
About Novogen
Novogen is a public, Australian-US drug-development company
whose shares trade on both the Australian Securities Exchange
('NRT') and NASDAQ ('NVGN'). The Novogen group includes US-based,
CanTx Inc, a joint venture company with Yale
University. Novogen has two main drug technology platforms:
super-benzopyrans (SBPs) and anti-tropomyosins (ATMs). SBP
compounds have been designed to kill the full heterogeneity of
cells within a tumor, but with particular activity against the
slowly-dividing, less differentiated cancer stem (tumor-initiating)
cell. The ATM compounds target the micro-filament component of the
cancer cell's cytoskeleton and have been designed to combine with
anti-microtubule drugs (taxanes, vinca alkaloids) to produce
comprehensive and fatal destruction of the cancer cell
cytoskeleton. The Company pipeline currently comprises two SBP drug
candidates (TRXE-002, TRXE-009) and one ATM drug candidate
(Anisina).
For more information, please visit www.novogen.com
Corporate Contact
Dr. Graham Kelly
Executive Chairman & CEO
Novogen Group
Graham.Kelly@novogen.com
+61 (0) 2 9472 4100
|
Media Enquiries
Cristyn Humphreys
Chief Operating Officer
Novogen Group
Cristyn.Humphreys@novogen.com
+61 (0) 2 9472 4111
|
Forward Looking Statement
All statements other than statements of historical fact
included in this announcement including, without limitation,
statements regarding future plans and objectives of Novogen Limited
("Novogen") are forward-looking statements. When used in this
announcement, forward-looking statements can be identified by words
such as 'may', 'could', 'should', 'would', 'believes', 'estimates',
'targets', 'expects' or 'intends' and other similar words that
involve risks and uncertainties.
Such statements relate to future events and expectations and
as such involve known and unknown risks and uncertainties. These
risks and uncertainties include, among other things, market
conditions, weather risks, economic and political risks.
These statements are based on an assessment of present
economic and operating conditions, and on a number of assumptions
regarding future events and actions that, as at the date of this
announcement, are expected to take place. Such forward-looking
statements are not guarantees of future performance and involve
known and unknown risks, uncertainties, assumptions and other
important factors, many of which are beyond the control of Novogen,
its directors and management, which could cause Novogen's actual
results to differ materially from the results expressed or
anticipated in these statements.
Novogen cannot and does not give any assurance that the
results, performance or achievements expressed or implied by the
forward-looking statements contained in this announcement will
actually occur and investors are cautioned not to place undue
reliance on these forward-looking statements. Actual results,
actions, and developments may differ materially from those
expressed or implied by those forward-looking statements depending
on a variety of factors.
Novogen does not undertake to update or revise
forward-looking statements, or to publish prospective financial
information in the future, regardless of whether new information,
future events or any other factors affect the information contained
in this announcement, except where required by applicable law and
stock exchange listing requirements.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/novogen-posts-details-on-rights-issue-offering-for-shareholders-300072250.html
SOURCE Novogen Ltd