BCAL Diagnostics claims it raised stake in Genetic Signatures from 10.2% to 18.46%
Biotech rival BCAL Diagnostics issued a section 249D notice demanding the removal of Genetic Signatures' chairman. The target company disputes the claim, stating its share registry shows those shares are held by Lawn Views Pty Ltd instead.
BCAL Diagnostics (ASX:BDX) has filed a section 249D notice targeting Genetic Signatures (ASX:GSS), requesting the removal of chairman Mike Aicher and proposing John Robert Melki and Susan Margaret Forrester as directors. Genetic Signatures confirmed it is reviewing the validity of this takeover bid under the Corporations Act. On August 26, BCAL stated its stake increased from 10.2% to 18.46%. Genetic Signatures rejected this figure, asserting no increase was recorded in its official share register. The target company claims the shares BCAL asserts it bought are held by Lawn Views Pty Ltd. Genetic noted that Lawn Views is based on Collins Street in Melbourne, an address linked to Kidder Williams and David Williams. While BCAL insists on its acquisition figures, Genetic demands clarity on the true nature of the shareholding structure before proceeding with a shareholder meeting.
