novogen. rising from the ashes, page-12

Cane, eyeinthesky, eMark, Stayso 54, Xrouter...alias Stik, the Bolshevik (grin), edinamac, padlock,and our old mate sherekhan.

Guys... I am frankly very pleasantly surprised that you felt the sentiment in my recent post was worth saying. Thank you tons for the joint agreement on what we must all have known was the true situation from a long term shareholders point of view.

Any of the newer shareholders who have come on board since the Triaxial team took over a year ago will possibly not have the same feeling toward the sentiment I expressed.

Having been "awarded" our shares in MEIP in exchange for the value that had been removed to the USA arm of the company... we long time followers and holders really do know the disaster we would have have been facing right now if the Triaxial boys had not rode into town.

OK... so I wrote that post because I was getting a bit fed up with hearing "what a loser" a certain director was for selling some of his shares at this time. I also thought the wider perspective was also needed so I combined the two topics.

Once I wrote that post I decided to send a general question to the company on the subject of directors disposing of shares. I have just received a reply from the man himself... Prof Graham Kelly... and I thought you might like to share the reply. With his permission I may add.


Dear Applefoot

Getting Triaxial up and running meant spending our own money. For some of us, not working, it meant going into debt. When Novogen acquired Triaxial last year, we had the opportunity of taking that as cash to ease that debt, but instead chose to take it in the form of performance-based equity. Twelve months on, one of the 3 Triaxial founders asked my permission to sell 800,000 shares to pay down some of that accumulated debt. I approved it. The sale is now complete.

That director continues to work his backside off on behalf of shareholders and to share in the confidence that we all have in the future of this great Company.

You ask whether I have any intentions of selling stock. I imagine that I will when NRT reaches $50. I just trust that my old car and washing machine last another year or two.

Dr Graham Kelly
Chief Executive Officer
Novogen Ltd

I make no further comment on this reply except to say.... I still have a big grin on my mug after thinking about a 50 buck shareprice.

Cheers

Apples