BCAL Letter and Media Speculation Addressed by GSS
Key points
- GSS urges BCAL to clarify merger intentions
- BCAL's largest shareholder bought 4.8% of GSS
- GSS directors to resign if BCAL nominees dominate board
Full summary
Genetic Signatures Limited (GSS) responds to media speculation and a letter from BCAL Diagnostics Ltd regarding potential merger intentions. GSS urges BCAL to clarify whether it intends to merge with GSS, noting that BCAL's largest shareholder, Capital Property, has purchased 10,988,711 shares in GSS, representing approximately 4.8% of GSS. GSS also informs shareholders that any current GSS director remaining on the board after an Extraordinary General Meeting (EGM) will resign if BCAL nominees represent the majority of GSS directors.
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