30 October 2013, Melbourne: Australian drug delivery technology company,
Phosphagenics Limited (ASX: POH; OTCQX: PPGNY), today releases the following
announcement.
Former CEO, Dr Ogru, her husband and mother have entered into a Deed of Settlement
with Phosphagenics. Under the terms of this Deed, Dr Ogru has agreed to pay the
misappropriated funds plus a fixed amount in respect of interest and costs.
The amount of funds the Company will recover will depend upon the realisable value of
the family assets.
The Deed of Settlement represents a better outcome for Phosphagenics than would
have been achieved through Court proceedings.
The Company will keep the market informed as to any significant developments relating
to the recovery of the misappropriated funds and
big result on esra - full amount plus interest, page-8
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