| Request for trading halt |
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Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE) requests a trading halt in its shares. GTG has received a Notice of Intention to Move a Resolution from a substantial shareholder seeking to remove a majority of Directors from the Board, and to appoint one new Director. The substantial shareholder is Mervyn Jacobson ApS, the holder of 49 million shares in GTG, which is an entity associated with a GTG Non-Executive Director, Dr. Mervyn Jacobson. The Directors who are sought to be removed are the Chairman Henry Bosch AO, the Managing Director Michael Ohanessian, and Non-Executive Directors John Dawkins AO, Dr. Leanne Rowe AM and David Carruthers. The person who is sought be appointed as a Director is Grahame Leonard. The Notice does not explain the rationale for the resolutions. GTG is considering the content and implications of the Notice, and seeks a trading halt until no later than 10.00 am on Monday, 22 September 2008 by which time it will update the Market of its position in this regard. GTG knows of no reason why the trading halt should not be granted. |
