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DNA PLANT TECHNOLOGY ANNOUNCES INSTRUCTIONS FOR WARRANT EXERCISE

    DNA PLANT TECHNOLOGY ANNOUNCES INSTRUCTIONS FOR WARRANT EXERCISE
    CINNAMINSON, N.J., Jan. 9 /PRNewswire/ -- DNA Plant Technology Corporation (NASDAQ: DNAP) today announced instructions regarding the exercise of its public warrants, which will expire on Jan. 17, 1992 at 5:00 p.m., New York City time.  The warrants were originally sold by DNA Plant Technology Corporation pursuant to an underwritten public offering which commenced on Jan. 11, 1984.  Even multiples of such outstanding warrants may be exercised by the registered holder thereof, with each two warrants, plus $10.50 in cash, entitling the holder thereof to purchase 1.32 shares of common stock of DNA Plant Technology Corporation, resulting in an effective exercise price of $7.95 per share.
    The warrants may be exercised (i) upon delivery of the warrant certificate on or prior to the expiration date to the offices of the Warrant Agent or pursuant to the procedure for book-entry transfer into the warrant agent's account at The Depositary Trust Company, with the form of "Election to Purchase" on the reverse side of the warrant certificate completed and executed as indicated, or (ii) upon delivery of a completed and duly executed Notice of Guaranteed Delivery on or prior to the expiration date to the offices of the warrant agent, in each case accompanied by payment of the full exercise price (by certified or official bank check payable to the order of the warrant agent) for the number of warrants being exercised.  If guaranteed delivery procedures are utilized, the warrant certificate for the exercised warrants, together with the form of "Election to Purchase" on the reverse side of the warrant certificate completed and executed as indicated, must be delivered to the offices of the warrant agent or pursuant to the procedure for book-entry transfer into the warrant agent's account at The Depositary Trust Company within five NYSE trading days after the date of the Notice of Guaranteed Delivery.
    The warrant agent is The Bank of New York, 101 Barclay Street, New York, New York 10286.  For additional information about the exercise of the warrants, call the warrant agent at 1-212-815-5829 (collect).
    DNA Plant Technology Corporation is a leading agricultural biotechnology company, applying a spectrum of technologies to develop and commercialize plant-based products, agricultural and environmental diagnostics, and ice modification products and processes for industrial and consumer markets.  DNA Plant Technology Corporation has four operating joint ventures -- FreshWorld, InterMountain Canola Company, Agri-Diagnostics Associates, and Florigene, B.V.
    -0-         1/9/92
    /CONTACT:  Richard Sykes of DNA Plant Technology, 914-241-4959, Leslie Uyeda, Kekst and Company, 212-593-2655, for DNA Plant Technology/
    (DNAP) CO:  DNA Plant Technology Corporation ST:  New Jersey IN:  MTC SU: SH -- NY016 -- 8105 01/09/92 09:46 EST
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Publication:PR Newswire
Date:Jan 9, 1992
Words:450
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