Genentech reminds stockholders of conversion.SOUTH SAN FRANCISCO South San Francisco, city (1990 pop. 54,312), San Mateo co., W Calif.; inc. 1908. South San Francisco has several industrial parks; its manufactures include steel, chemicals, metal products, paint, and processed foods. The city's founding and growth were spurred in the late 19th cent. by the cattle-ranching and meatpacking industries. Nearby is the San Francisco International Airport., Calif.--(BUSINESS WIRE)--June 21, 1995-- Genentech, Inc. (NYSE:GNE GNE - Game Networking Engine GNE - Game Neverending (MMORPG) GNE - Gateway Network Element (data communications) GNE - Global Network Expert Communications Corporation GNE - Graphical Network Editor (Nortel) GNE - Gross National Expenditure) today reminded stockholders that at the close of business on June 30, 1995, each share of Genentech Redeemable Redeemable Eligible for redemption under the terms of an indenture. Common Stock will automatically convert to an equal number of shares of Genentech Common Stock. This conversion is in accordance with the terms of the Redeemable Common Stock put in place at the time of its issuance in 1990. The conversion requires no action on the part of shareholders. Shares of Common Stock will no longer be redeemable by Genentech, but will have the same equity interest in Genentech that the Redeemable Common Stock had previously. Genentech's stock will continue to trade on the New York and Pacific Stock Exchanges under the ticker symbol GNE. Genentech, Inc. is a leading biotechnology company that discovers, develops, manufactures and markets human pharmaceuticals for significant unmet medical needs. The company has headquarters in South San Francisco. CONTACT: Genentech, Inc., South San Francisco Laura Leber, 415/225-5759 Lisa Brock, 415/225-1034 |
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