Close Menu
  • Business
  • World News
    • United States of America
    • Europe
    • Asia
    • Oceania
  • Technology
  • Sports
  • Money
  • Health
  • Life & Style
  • Shopping

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

What Size Skip Do You Need for Your Project?

May 12, 2025

How TradingView Helps Traders Avoid Costly Mistakes

May 2, 2025

Inflatable Arches for Events: How to Make Your Brand Stand Out

March 29, 2025
Facebook X (Twitter) Instagram
Daily News
Facebook X (Twitter) Instagram
Subscribe
  • Home
  • Business

    What Size Skip Do You Need for Your Project?

    May 12, 2025

    Introduction to Share CFDs: Understanding the Basics

    December 2, 2024

    Importance of Proper Disposal in Spray Foam Removal

    August 26, 2024

    The Underlying Dynamics of Italy’s Euro: Economic Policies and Market Implications

    June 27, 2024

    The Pros and Cons of Payday Loans: Understanding the Risks and Benefits

    March 27, 2024
  • World News

    HNA Group Chairman Chen Feng Gives Speech at 2015 WTTC Global Summit: China Sees Huge Tourism Cooperation Opportunities with Europe

    October 24, 2020

    Greyrock Direct Fuel Production(TM) Recognized by the World Bank as Most Advanced Technology for Gas-to-Liquids

    September 28, 2020

    DJI to Open Flagship Store in Hong Kong

    August 29, 2020

    Micreos Secures Euros 12 Million for New Products Containing Staphefekt; Alternative to Antibiotics Can Help Millions

    June 18, 2020

    NetEase Debuts New Publicity Video in Shibuya, Triggers Speculation in Japan Game Industry

    April 19, 2020
  • Technology
  • Sports
  • Money
  • Health
  • Life & Style
  • Shopping
Daily News
Home»World News»Novogen Limited Announces Closing of Rights Issue Entitlement Offer and Notice of Shortfall
World News

Novogen Limited Announces Closing of Rights Issue Entitlement Offer and Notice of Shortfall

AndrewBy AndrewJune 1, 2015No Comments4 Mins Read0 Views
Facebook Twitter Pinterest Telegram LinkedIn Tumblr Copy Link Email
Follow Us
Google News Flipboard
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

US-Australian drug discovery and development company, Novogen Limited (ASX:NRT; NASDAQ:NVGN), announced today the non-renounceable pro-rata rights issue entitlement announced on 21 April 2015 (Rights Issue) was completed successfully.The Rights Issue offered up to 58,971,207 new shares at an issue price of $0.30 per share and a set of short-term and long-term new options. Fully subscribed, the offering was designed to raise a maximum of $17,691,362.

In accordance with Appendix 7A of the ASX Listing Rules, the Company advises the following:
— The Company received acceptances for a total of 56,742,571 new shares, raising $17,022,771.
— The shortfall under the Rights Issue therefore was 2,228,636 new shares (Shortfall Shares).
— The Shortfall Shares have been placed with Australian institutional investors on 2 June 2015, raising an aggregate of $668,591. Lodge Partners acted as lead agent to place the Shortfall Shares.

The allotment of the new shares under the entitlement offer is scheduled to take place on 4 June 2015 and ASX trading of the new shares is expected to commence on 5 June 2015. The new options will be issued on the same date.

Chairman and Chief Executive Officer, Graham Kelly, said, “This is a great result for the Company. It demonstrates the high level of support that we have in our shareholder base. This outcome, combined with the recent placement of approximately $15.5M to a number of US institutions, brings the Company’s cash position to approximately $45M. This has delivered the security the Board has sought for the Company by quarantining in it from the uncertainties of the market over the next few years. We now have the security of being able to proceed with our R&D programs and our plans to turn Novogen into a global biotech company.”

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 drug technology platforms yielding drug candidates that are first-in-class with potential application across a broad range of degenerative diseases. In the oncology field, the ultimate objective is to see both drug technologies used in combination as first-line therapy across most forms of cancer, with the objective of preventing tumor recurrence. This objective is based on a strategy of achieving comprehensive destruction of the full hierarchy of cells within a tumor with the super-benzopyran technology platform killing the tumor-initiating cells and the anti-tropomyosin technology combining with vinca alkaloids to deliver a potent chemical debulking effect on their daughter cells.

Corporate Contact
Dr. Graham Kelly
Executive Chairman & CEO
Novogen Group
Graham.Kelly@novogen.com
+61-2-9472-4101

Media Enquiries
Prue Kelly
Media Officer
Novogen Group
Prue.Kelly@novogen.com
+61-2-9472-4101

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.

Follow on Google News Follow on Flipboard
Share. Facebook Twitter Pinterest LinkedIn Telegram Email Copy Link
Andrew

Related Posts

HNA Group Chairman Chen Feng Gives Speech at 2015 WTTC Global Summit: China Sees Huge Tourism Cooperation Opportunities with Europe

October 24, 2020

Greyrock Direct Fuel Production(TM) Recognized by the World Bank as Most Advanced Technology for Gas-to-Liquids

September 28, 2020

DJI to Open Flagship Store in Hong Kong

August 29, 2020

Comments are closed.

Featured Posts

What Size Skip Do You Need for Your Project?

May 12, 2025

How TradingView Helps Traders Avoid Costly Mistakes

May 2, 2025

Inflatable Arches for Events: How to Make Your Brand Stand Out

March 29, 2025

Introduction to Share CFDs: Understanding the Basics

December 2, 2024
Don't Miss!

What Size Skip Do You Need for Your Project?

May 12, 2025

How TradingView Helps Traders Avoid Costly Mistakes

May 2, 2025

Inflatable Arches for Events: How to Make Your Brand Stand Out

March 29, 2025

Introduction to Share CFDs: Understanding the Basics

December 2, 2024
Top Posts

Importance of Proper Disposal in Spray Foam Removal

August 26, 202418 Views

Introduction to Share CFDs: Understanding the Basics

December 2, 202411 Views

What Size Skip Do You Need for Your Project?

May 12, 202510 Views

Inflatable Arches for Events: How to Make Your Brand Stand Out

March 29, 202510 Views
Don't Miss

What Size Skip Do You Need for Your Project?

May 12, 20254 Mins Read10 Views

Choosing the right skip size can save you money, time, and stress. Whether it’s a…

How TradingView Helps Traders Avoid Costly Mistakes

May 2, 2025

Inflatable Arches for Events: How to Make Your Brand Stand Out

March 29, 2025

Introduction to Share CFDs: Understanding the Basics

December 2, 2024
Stay In Touch
  • Facebook
  • Twitter
  • Instagram
  • YouTube

Subscribe to Updates

Get the latest creative news from SmartMag about art & design.

About Us
About Us

Daily News blog provides you the latest news, guide and tips, related information and issues about the Automotive, Business, Technology, Sports, Life & Style, News Photography, and Shopping etc.

Facebook X (Twitter) Instagram
Our Picks

What Size Skip Do You Need for Your Project?

May 12, 2025

How TradingView Helps Traders Avoid Costly Mistakes

May 2, 2025

Inflatable Arches for Events: How to Make Your Brand Stand Out

March 29, 2025
Most Popular

Brown in Kandahar for talks with Karzai

December 13, 20090 Views

WHO: Polio reemerging in Africa

December 15, 20090 Views

Mark Ingram wins 2009 Heisman Trophy

December 15, 20090 Views
Daily News
  • Home
  • About
  • Contact
  • Privacy Policy
Copyright © 2019-2025. Daily News..

Type above and press Enter to search. Press Esc to cancel.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT