SYDNEY, AUSTRALIA--(Marketwire - March 31, 2010) -
Novogen Limited (ASX: NRT) (NASDAQ: NVGN
) advises that it has entered into new executive service agreements with its seven most senior executives.
The new agreements bring all the Company's executives into full compliance with the recent amendments to the Corporations Act 2001 (Cth) on termination payments and ASX Listing Rules.
Mr. Philip Johnston, Chairman of Novogen, said the Board appreciated the cooperation of the executives in accepting reduced termination benefits which ensure that the contracts are in full compliance with appropriate regulations.
Novogen Limited is an Australian biotechnology company based in Sydney, Australia, that is developing a range of oncology therapeutics from its proprietary flavonoid synthetic chemistry technology platform. More information on NV-128 and on the Novogen group of companies can be found at www.novogen.com.