SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the Month of November 2002
GENSET S.A.
24, rue Royale, 75008 Paris, France
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F
Form 20-F...X... Form 40-F......
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934
Yes...... No...X....
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):
........................N/A...............................
[GENSET LOGO -- OMITTED]
FOR IMMEDIATE RELEASE
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Press Release
Contact:
GENSET
+331 55 04 59 00
Marc Vasseur
Chairman & Chief Executive Officer
Genset Announces Notice of Termination
of its ADR Facility
PARIS, France, November 27, 2002 - Genset S.A. (Euroclear : 5433) announced
today that, following Serono's recent tender offers and the subsequent delisting
of Genset's American Depositary Shares (ADSs) from Nasdaq, it is terminating its
American Depositary Receipt (ADR) facility, as permitted under the terms of the
Deposit Agreement governing the ADR facility. The ADR facility will be
terminated effective on December 27, 2002, after which date The Bank of New York
will no longer register transfers of ADSs, distribute dividends to holders, or
give any notices under the deposit agreement.
Holders of ADSs may surrender their ADRs to The Bank of New York in exchange for
the number of Genset shares represented by those ADRs. After December 27, 2003
The Bank of New York may, in accordance with the Deposit Agreement, sell any
remaining deposited securities and hold the net proceeds of any such sale for
the benefit of any ADR holders who did not surrender their ADRs prior to such
date.
About Genset
Genset is a genomics-based biotechnology company focused on generating a
pipeline of drug targets and drug candidates in the areas of CNS and metabolic
disorders. Genset has successfully used its integrated technology platform and
association studies approach to identify and characterize drug targets and drug
response markers in the fields of CNS, metabolic and other diseases. Building
upon the expertise accumulated in various alliances with pharmaceutical partners
and its portfolio of genomic patents, Genset discovers and validates novel drug
targets and candidates for its own account. Its teams have already discovered
and launched the development of a lead protein candidate in the metabolism field
named Famoxin, and are continuing their research with a view to discovering and
developing other drugs.
In addition to historical information, this press release contains certain
forward-looking statements that involve risks and uncertainties relating to
our future financial and scientific performance. Such statements are based
on our current expectations and are subject to a number of factors and
uncertainties that could cause actual results to differ materially from
those described in the forward-looking statements. In evaluating such
statements, readers should specifically consider factors which could affect
expected results, including, but not limited to the uncertainties inherent
in drug discovery and development. Other factors which could cause results
to differ from expectations are specified in the reports filed by Genset
with the Securities and Exchange Commission. Readers are cautioned not to
place undue reliance on forward-looking statements, which speak only as of
the date hereof. Genset does not intend (and is not obligated) to update
any such statements to reflect any changes in events, conditions or
circumstances on which the statements are based.
Genset's news releases are available on the Company's Web site at:
http://www.genset.fr.
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GENSET is listed on the Nouveau Marche of the Paris Bourse
Euroclear: 5433 - Bloomberg: GNST FP - Reuters: GEN.F
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Genset S.A.
By: /s/ Marc Vasseur
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Name: Marc Vasseur
Title: Chief Executive Officer
Dated: November 27, 2002