ASX ANNOUNCEMENT29 January 2019GTG receives Nasdaq deficiency...

ASX ANNOUNCEMENT29 January 2019GTG receives Nasdaq deficiency noticeMelbourne, Australia; 29 January 2019: Molecular diagnostics company Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE) has announced that it has received a letter from the Nasdaq Stock Market dated 23 January 2019 and received by the Company on 24 January 2019 notifying that for 30 consecutive business days the bid price for the Company’s ordinary shares has closed below the minimum $US1.00 per share requirement for continued inclusion under Nasdaq Marketplace Listing Rules (the “Rules”).The letter stated that in accordance with the Rule the Company has 180 calendar days, or until 22 July 2019, to regain compliance. To regain compliance with the minimum bid price requirement, GTG’s ordinary shares must meet or exceed the $US1.00 share price for 10 consecutive business days.This deficiency notice does not immediately affect GTG’s Nasdaq listing.If the Company does not regain compliance with the Rule by 22 July 2019, Nasdaq will determine whether the Company meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement. If it meets the initial listing criteria, Nasdaq will notify the Company that it has been granted an additional 180 calendar days compliance period. If the Company is not eligible for an additional compliance period, Nasdaq will provide written confirmation that the Company’s securities will be delisted from The Nasdaq Capital Market.The relevant Listing Rules are:- 5550(a)(2) – bid price 5810(c)(3)(A) – compliance period 5810(b) – public disclosure 5505 – Capital Market criteriaThese Rules only apply to the Company’s shares trading on The Nasdaq Capital Market and not the Company’s shares trading on the Australian Securities Exchange, the Company’s home exchange.