Novogen Limited : Novogen regains compliance with Nasdaq Listing Rules
01/23/2012 | 07:19am
Novogen Limited (ASX: NRT NASDAQ:NVGN) - In addition to
the listing of its ordinary shares on the Australian Stock
Exchange, the Company has an American Depository Receipt
(ADR) program with the ADRs listed on the Nasdaq Capital
Market.
The Company had previously announced to the market on
25 July, 2011 that it had received a notice from Nasdaq
advising that it was no longer in compliance with the Nasdaq
listing requirements for its ADR program and allowing 180
days in which to correct the non-compliance.
On 18 January, 2012 the Company received confirmation
from Nasdaq that for the ten consecutive business days, from
3 January, 2012 to 17 January, 2012, the closing bid price of
the Company's ADRs had been at US$1.00 or greater.
Accordingly, the Company has regained compliance with Listing
Rule 5550(a)(2) and this matter is now closed.
This notification from the Nasdaq Stock Market has no
bearing on the ASX listing.
About Novogen Limited
Novogen Limited is an Australian biotechnology company based
in Sydney, Australia. Novogen conducts research and
development on oncology therapeutics through subsidiary,
Marshall Edwards, Inc., and is developing glucan technology
through its subsidiary, Glycotex, Inc. More information on
the Novogen group of companies can be found at www.novogen.com.
