Genetic Technologies Lists on the NASDAQ National Market
September 06 2005 - 10:27AM
Business Wire
Genetic Technologies Limited ("GTG") (NASDAQ:GENE) announces the
listing of its Level II American Depositary Receipts (ADRs) on the
National Association of Securities Dealers Automated Quotation
(NASDAQ) National Market. The Company's final Form 20-F
Registration Statement was declared "effective" for the purposes of
Securities and Exchange Commission (SEC) compliance on Thursday,
September 1, 2005. The final listing on the NASDAQ National Market,
under the ticker symbol GENE, occurred on Friday, September 2,
2005. The first sale of the Company's Level II ADRs occurred at
US$11.00. Each ADR comprises 30 fully paid ordinary shares in the
Company. Genetic Technologies' ordinary shares will continue to
trade on the Australian Stock Exchange (ASX) under the symbol: GTG.
Dr. Mervyn Jacobson, Executive Chairman of Genetic Technologies,
stated, "We are very pleased to have our ADRs trading on the NASDAQ
National Market, as it provides the Company with access to the vast
North American capital markets. We believe that trading on the
NASDAQ National Market will significantly increase our visibility
to a wide range of investors worldwide, while at the same time
providing investors with the best prices, the fastest execution,
and the lowest cost per trade. This is an important milestone for
Genetic Technologies." About Genetic Technologies Limited Genetic
Technologies was the first company in the world to recognize
important new applications for "non-coding" DNA (DeoxyriboNucleic
Acid). The Company has since been granted patents in 24 countries
around the world, securing intellectual property rights for
particular uses of non-coding DNA in genetic analysis and gene
mapping across all genes in all multicellular species. Its
three-pronged business strategy includes: 1) the global
commercialization of its patents through an active licensing
program; 2) the expansion of its dominant commercial genetic
testing business in Australia; and, 3) the commercialization of its
various research and development projects aimed at generating
further intellectual property of global commercial significance.
This announcement may contain forward-looking statements within the
meaning of Section 27A of the U.S. Securities Act of 1933 and
Section 21E of the U.S. Securities Exchange Act of 1934 with
respect to the financial condition, results and business
achievements/performance of Genetic Technologies Limited and
certain of the plans and objectives of its management. These
statements are statements that are not historical facts. Words such
as "should," "expects," "anticipates," "estimates," "believes" or
similar expressions, as they relate to Genetic Technologies
Limited, are intended to identify forward-looking statements. By
their nature, forward-looking statements involve risk and
uncertainty because they reflect Genetic Technologies' current
expectations and assumptions as to future events and circumstances
that may not prove accurate. There is no guarantee that the
expected events, trends or results will actually occur. Any changes
in such assumptions or expectations could cause actual results to
differ materially from current expectations.
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