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Joe Aston

Novogen 'gerrymander' divides ASX, ASIC and Ownership Matters

Joe AstonColumnist
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And now to the corporate gerrymander of the year, cancer treatment biotech Novogen. The Board shocked shareholders at the annual meeting in Sydney on November 16 by voting a whopping 160 million shares at the chairman's discretion, up from just 3.1 million at the 2015 AGM.

Remember that two new Novogen directors, Bryce Carmine and Ian Phillips, and a continuing director Steve Coffey, came within a whisker of being unseated that year, with votes for and against their election/re-election split evenly at the close of proxies.

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Joe Aston helmed The Australian Financial Review's Rear Window column from 2012 to 2023. Connect with Joe on Facebook and Twitter.

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    Original URL: https://www.afr.com/rear-window/novogen-gerrymander-divides-asx-asic-and-ownership-matters-20170418-gvmy54