27 June 2013
ASX RELEASE
Publication of Explanatory Notice for shareholders who hold stock in MEIP
Novogen Ltd today announces the publication of an Explanatory Notice for its
shareholders who hold stock in MEI Pharma Inc (MEIP).
Up till November 2012, NASDAQ-listed and US-based biotechnology company,
MEIP, was a partly-owned subsidiary of Novogen Ltd. At that time, Novogen
received shareholder approval to divest itself of its shareholding in MEIP
through an in specie share distribution, with Novogen shareholders receiving a
proportional allocation of MEIP stock.
For many Australian and New Zealand shareholders, we understand that the
complexities of holding and selling US-listed shares, particularly where those
shareholdings involve unmarketable parcels of stock, have been challenging.
Novogen believes that many of its shareholders who have small holdings in MEIP
would benefit from a guidance note which deals with some issues arising from
holding foreign stock, particularly in relation to tax implications and, if desired,
cost-effective means of selling the stock.
Dr Graham Kelly, Novogen Chairman and CEO, said, “Preparing this Guidance
document has been a large and time-consuming project that was taken on by our
Deputy Chairman, Robert Birch. I cannot emphasise too much that what we have
provided in this document is a general guide designed to assist and we hope
clarify the situation for Novogen shareholders who hold MEIP stock. It is not in
any way advice and we cannot accept any responsibility for it. This guide
reinforces that care needs to be taken and does not replace getting your own
advice from a qualified expert, particularly in relation to tax. We do hope though
that our shareholders find it useful.”
The Explanatory Notice is published on the Company’s website under the
‘Shareholders’ menu (‘MEIP in specie distribution’) or may be downloaded at
http://novogen.com/shareholder-guide-selling-us-shares-2/.
About Novogen
Novogen Ltd is a public Australian biotechnology company whose shares trade
on both the Australian Stock Exchange (symbol ‘NRT’) and NASDAQ (symbol
‘NVGN’). The Company is based in Sydney, Australia and is focused on the
development of a family of novel anti-cancer drugs based on comprehensive
anti-cancer activity against both cancer cells and cancer stem cells. The
Company’s inaugural drug candidate is CS-6.
About CS-6
CS-6 belongs to a new class of drug candidates intended to treat most forms of
cancer in a comprehensive manner, targeting both cancer cells and their
progenitor cells, cancer stem cells. CS-6 shows broad anti-proliferative and
cytotoxic activity against human cancer cells and ovarian cancer stem cells. CS-6
also has been designed deliberately to meet the major known criteria for
crossing the blood-brain barrier, and for that reason is being developed as a
first-line for the treatment of glioblastoma multiforme, the main form of primary
brain cancer.
Further information
Contact Dr Graham Kelly, Chief Executive Officer.
Tel: 61 2 9476 0344
Fax: 61 2 9476 0388
Mobile: (61) 0429 854 390
16-20 Edgeworth David Ave Hornsby NSW 2077 AUSTRALIA
PO Box 2333 Hornsby Westfield NSW 1635 AUSTRALIA
E: Graham.Kelly@novogen.com
Further information is available on the Company’s web site, www.novogen.com