Genetic Technologies Announces Share Consolidation Of 1 for 100 And American Depositary Share Ratio Change From 1 ADS Representing 600 Shares To 1 ADS Representing 30 Shares-8K
Portfolio Pulse from Benzinga Newsdesk
Genetic Technologies announced a share consolidation of 1 for 100 and a change in the ADS ratio from 1 ADS representing 600 shares to 1 ADS representing 30 shares. The effective date is December 14, 2023. Shares will trade on the ASX as 'GTGDA' from December 14 to 22, 2023, and revert to 'GTG' from December 27, 2023. ADSs will continue trading on the Nasdaq under 'GENE'.

December 12, 2023 | 1:13 pm
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NEUTRAL IMPACT
Genetic Technologies' share consolidation and ADS ratio change may lead to short-term volatility as investors adjust to the new share structure.
Share consolidations often lead to short-term price volatility due to adjustments in market perceptions and liquidity changes. The impact on GENE's stock price will depend on investor interpretation of the consolidation as either a positive restructuring move or a negative signal of company health. The change in ADS ratio will also require adjustments by investors holding ADSs.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100