Genetic Technologies announces 1-for-100 share consolidation

Genetic Technologies announced its plans to effect: a share consolidation of its ordinary shares of one for one hundred existing Shares and a change of ratio in the Company’s American Depositary Share program, comprising a change in the ratio of American Depositary Shares to Shares from one ADS representing six hundred Shares, to one ADS representing thirty Shares. The effective date of the Local Consolidation and Ratio Change is expected to be December 14, 2023. The Shares will continue to be traded on the ASX, under the symbol “GTGDA”, from 14 December to 22 December 2023, before reverting to the symbol “GTG” from 27 December 2023. The ADSs will continue to be traded on The Nasdaq Stock Exchange under the symbol “GENE“. On the Effective Date, ADS holders will be required on a mandatory basis to surrender their old ADSs to BNY Mellon for cancellation and exchange at a rate of one ‘new’ ADSs for every five ‘old’ ADSs surrendered. Holders of ADSs in the Direct Registration System or in brokerage accounts will have their ADSs automatically exchanged and need not take any action. No fraction of an ADS will be issued. BNY Mellon will attempt to sell any fractions and distribute the cash proceeds to holders. A cancellation fee of $0.022200 per Old ADS surrendered will be charged.