Genetic Technologies Limited Announcement Pursuant To Nasdaq Marketplace Rule 4803(a)
January 11 2007 - 8:32PM
Business Wire
Genetic Technologies Limited (NASDAQ:GENE)(ASX:GTG) today announced
that it had received a letter of non-compliance with Nasdaq�s audit
committee requirement as set forth in Marketplace Rule 4350. This
resulted from the resignation, as previously announced, of Mr.
Robert Edge from the Board of Directors, which reduced the number
of independent members of the audit committee to two. Nasdaq has
provided the Company with a cure period of 180 days, to May 16,
2007, in order to regain compliance. The Company is currently
seeking to appoint an additional independent Director within the
cure period which will ensure full compliance with Marketplace Rule
4350. This announcement is being made in compliance with Nasdaq
Marketplace Rule 4803(a), which requires prompt disclosure of
receipt of a non-compliance letter.
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