| ASX Announcement | 12 November 2014 |
Sydney, AUSTRALIA, 12 November 2014: Novogen Limited (ASX:NRT and Nasdaq:NVGN) today announced that on November 7, 2014 it was advised by NASDAQ Stock Market that the Company's stockholder equity, as reported in the Company's Form 20-F for the fiscal year ended June 30, 2014, did not meet the minimum stockholders' equity requirement of $2,500,000 for continued inclusion on The NASDAQ Global Market.
This notification has no immediate effect on the Company's listing on The NASDAQ Capital Market or on the trading of the Company's ADRs on that market.
In accordance with this NASDAQ rule, the Company is provided with forty-five (45) days to submit a plan to regain compliance. The Company intends to submit such a plan. If the plan is accepted, of which there can be no assurance, then the Company can seek an extension up to one hundred and eighty (180) days to provide evidence of compliance.
The Company intends to submit a plan to The NASDAQ Stock Market on or before December 22, 2014 to maintain its listing on the NASDAQ Capital Market.
About Novogen Limited
Novogen is a public, Australian drug-development company whose shares trade on both the Australian Securities Exchange ('NRT') and NASDAQ ('NVGN'). The Novogen Group includes a New Haven CT - based joint venture company, CanTx Inc., with Yale University.
Novogen has two main drug technology platforms: super-benzopyrans (SBPs) and anti-tropomyosins (ATMs). SBP compounds have been created to kill the full range of cells within a tumor, but particularly the cancer stem cells. The ATM compounds target the microfilament component of the cancer cell and when used in conjunction with standard anti-microtubular drugs, result in comprehensive and fatal destruction of the cancer cell's cytoskeleton. Ovarian cancer, colorectal cancer, malignant ascites, prostate cancer, neural cancers (glioblastoma, neuroblastoma in children) and melanoma are the key clinical indications being pursued, with the ultimate objective of employing both technologies as a unified approach to first-line therapy.
Further information is available on our websites www.novogen.com
For more information please contact:
Corporate Contact
Dr. Graham Kelly
Executive Chairman & CEO Novogen Group
Graham.Kelly@novogen.com
+61 (0) 2 9472 4100
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