| Intention To Appoint A Director |
|
Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE) notes that Resolution 7 in the Company’s Notice of Annual General Meeting to be held on Wednesday, 19 November 2008, seeks to remove five of the seven current Directors. If this resolution is passed, the Company will have two Directors remaining, putting it in breach of the Corporations Act 2001 and its Constitution, both of which require that the Company has a minimum of three Directors. It had originally been proposed that Mr. Grahame Leonard be appointed as a Director at the AGM for this purpose, as contemplated in Resolution 8 of the Notice, however Mr. Leonard subsequently withdrew his Consent to Act. In order to resolve this potential problem, Dr. Mervyn Jacobson and Mr. Fred Bart, being the two Directors who are not subject to removal under Resolution 7, have proposed that, in the event that Resolution 7 is passed, Mr. Huw Jones be appointed by them as a Director of the Company immediately following the AGM by way of casual vacancy appointment. Mr. Jones has already provided the Company with a Consent to Act as a Director. Mr. Jones, 45, currently serves as Chief Executive Officer of Aeris Environmental Limited, an ASX-listedenvironmental technology and services company, and has previously held a number of senior management positions. He holds a degree in Civil Engineering and an MBA from the London Business School. FOR INFORMATION REGARDING THIS ANNOUNCEMENT PLEASE CONTACT Thomas G. Howitt Company Secretary Genetic Technologies Limited (ABN 17 009 212 328) Phone: +61 3 8412 7000 |
