PROPANC HEALTH GROUP CORPORATION (OTCMKTS:PPCH) Files An 8-K Regulation FD Disclosure
Item 7.01
| Regulation FD Disclosure |
On April 4, 2017, Propanc Health Group Corporation (the Company)
entered into a letter agreement with Delafield Investments
Limited (Delafield) to which the Company and Delafield agreed
that on April 5, 2017, Delafield will rescind its conversion
notice and return 6,119,473 shares of the Companys common stock,
par value $0.001, to the Company to be held in treasury. These
shares are held by Delafield as a result of its conversion on
February 21, 2017 of a portion of the principal balance of a 5%
original issue discount senior secured convertible debenture
issued to Delafield on October 28, 2015 and due October 28, 2016,
the maturity date of which was extended by letter agreement to
September 30, 2017 (the Debenture).
Delafield further agrees that it will take no action to convert
any further principal balance of the Debenture or sell any shares
of the Companys common stock until the earliest of April 10,
2017, one trading day after the Company has effected its planned
reverse stock split at a ratio of 1-for-250, as described in a
press release the Company filed as an exhibit to its current
report on Form 8-K filed on March 31, 2017.
The remaining principal balance of the Debenture will be
increased by an amount equal to the number of shares of common
stock being returned to the Company multiplied by the conversion
price provided for in the Debenture on the date of conversion.
The Company shall continue to pay interest on the aggregate
unconverted and outstanding principal amount of the Debenture to
its terms, with interest on the returned amount of principal
beginning to accrue on April 5, 2017.
About PROPANC HEALTH GROUP CORPORATION (OTCMKTS:PPCH)
Propanc Health Group Corporation is an early-stage healthcare company that is focused on developing new cancer treatments for patients suffering from pancreatic, ovarian and colorectal cancer. The Company has developed a composite formulation of anti-cancer compounds, which together exert a range of effects designed to control or prevent tumors from recurring and spreading through the body. The Company’s solution is to develop and commercialize a long-term therapy to prevent tumor recurrence and metastases. The Company is developing pro-enzyme therapy for the treatment and prevention of the development of carcinomas from solid tumors. The Company’s products include PRP and PRP-DCM. The Company’s PRP is a formulation consisting of two pro-enzymes: trypsinogen and chymotrypsinogen, plus the enzyme amylase (1, 4-alpha-D-glucan glucanohydrolase). The pro-enzymes in PRP, typsinogen and chymotrypsinogen, exhibit specificity for tumor cells and not normal cells. PROPANC HEALTH GROUP CORPORATION (OTCMKTS:PPCH) Recent Trading Information
PROPANC HEALTH GROUP CORPORATION (OTCMKTS:PPCH) closed its last trading session up +0.00005 at 0.00870 with 7,615,825 shares trading hands.
