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AVECHO BIOTECHNOLOGY LIMITED — Director's Dealing 2013
Aug 4, 2013
64468_rns_2013-08-04_2c101377-6912-4d82-882c-9324ce469369.pdf
Director's Dealing
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ASX Limited Market Announcements Office
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By electronic lodgement
Sale of Former CEO’s Shares
5 August 2013, Melbourne: Australian drug delivery technology company Phosphagenics Limited (ASX: POH; OTCQX: PPGNY) (the Company) has been notified that the shares held by its former CEO have been sold on the market under an irrevocable direction from Dr Esra Ogru. The proceeds from this sale of approximately $570,000 will be received by the Company upon settlement as the first restitution of identified misappropriated funds.
The Company has taken steps to secure other assets of persons referred to in its announcement of 24 July 2013 and remains confident of recovering a substantial proportion of the misappropriated funds.
ENDS
Enquiries
All Media: Shareholders: Rudi Michelson David Segal Monsoon Communications Investor Relations Manager +61 3 9620 3333 Phosphagenics Limited +61 3 9565 1103
About Phosphagenics
Phosphagenics Limited is commercialising drug delivery applications based on its novel transdermal (drugs administered via skin) TPM[®] – Targeted Penetration Matrix technology. TPM[®] is a patient friendly and cost effective system used to deliver proven pharmaceutical and nutraceutical products.
The lead products advancing through clinical trials are an oxycodone and oxymorphone matrix system for the relief of chronic pain.
Phosphagenics’ shares are listed on the Australian Securities Exchange (POH) and its ADR – Level 1 program in the US is with The Bank of New York Mellon (PPGNY).
www.phosphagenics.com
Phosphagenics Limited ACN 056 482 403 ABN 32 056 482 403
11 Duerdin Street, Clayton VIC 3168 PO Box 1415, Clayton South MDC VIC 3169 Australia Tel: +61 (0)3 9565 1119 Fax: +61 (0)3 9565 1151 Web: www.phosphagenics.com Email: [email protected]
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