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24 March 2003
Auckland, 24 March 2003 – Genesis Research and Development Corporation Limited (NZSE / ASX: GEN) advises that a supplementary notice of meeting is being printed and will be mailed to shareholders this week. Since the original Notice of Annual Meeting was sent to shareholders, Wrightson Limited (NZSE: WRI) has become a substantial security holder in Genesis and has nominated two Wrightson directors for appointment to the Genesis Board. The Genesis Board invited Mr J Palmer, Chairman of Wrightson, to be appointed as a director of Genesis. However Wrightson Limited advised that it wished to have two appointees, and the Genesis Board decided that this should be resolved by shareholders at the forthcoming annual meeting. As a result of the possible increase in the number of non-executive directors, the Board is also submitting a resolution to provide a pro-rata increase to the total amount of non-executive directors’ remuneration. About Genesis Founded in 1994, Genesis is a New Zealand-based biotechnology company committed to the development of innovative products in health and plant biotechnology from its broad genomic platform. The Health Sciences Division focuses on signalling pathways involved in immune diseases and cancer and has an extensive patent portfolio. It has three programmes in human clinical development utilising PVAC™ and AVAC™ for the treatment of psoriasis, atopic dermatitis (eczema) and asthma. The patented BioStore solutions for storage of tissues and living cells are also in pre-clinical development. Collaborations are maintained with Amgen Inc. (NASDAQ: AMGN), Corixa Corporation (NASDAQ: CRXA), SR Pharma (LSE: SPA), and Jurox Pty Ltd. The Plant Sciences division is focusing on key cell signalling genes – novel hormones and transcription factors - to control commercial traits including growth rates and wood fibre quality in trees, nutritional content of forage grasses, flowering control and stress tolerance. It has research collaborations with ArborGen LLC, Wrightson (NZSE: WRI), HortResearch, AgResearch and Landcare. Genesis is also undertaking significant unpartnered research programmes in novel plant hormones. For more information, please visit www.genesis.co.nz Media contacts: Dr James D Watson, Chief Executive, Genesis Research and Development Corporation Limited, +64 9 373 5600 Allan Botica, Botica Butler Raudon Partners, +64 9 303 3862, +64 21 400 500, allanb@botica.co.nz [Back]
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