| Thu 2 Jun 2011, 7:48 | | JDH - John Daniel Holdings Limited - Press release relating to Cryo-Save |
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JDH
JDH
JDH - John Daniel Holdings Limited - Press release relating to Cryo-Save
Transaction
JOHN DANIEL HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: JDH - ISIN: ZAE000136677
("the Company" or "JDH" or "the Group")
PRESS RELEASE RELATING TO CRYO-SAVE TRANSACTION
The board of directors is pleased to advise shareholders that the Company and
Cryo-Save Group N.V. ("Cryo-Save"), signed a memorandum of understanding, with
effect from 01 June 2011 to establish a new stem cell bank joint venture in
South Africa.
Cryo-Save is the leading international family stem cell bank, already stores
175,000 samples from cordblood and umbilical cord tissue for newborns and
adipose tissue for adults. There are already several diseases that can be cured
by the use of stem cells, and the number of treatments will only increase.
Driven by its international business strategy, Cryo-Save is now represented in
40 countries on three continents, with ultra-modern processing and storage
facilities in Belgium, Germany, Dubai,India and France (validation in progress).
This joint venture will contain the sales and marketing operations of both
companies and the Cape Town processing and storage facility of Lazaron
Biotechnologies (SA) Ltd ("Lazaron"), one of JDH`s subsidiary, and will
immediately expand its operations into several African countries.
The joint venture combines Cryo-Save`s leading expertise in stem cell processing
and storage with JDH`s local and African market expertise. The joint venture
will offer customers the option of storing cord tissue and stem cells from cord
blood in South Africa or off shore in Belgium.
The new joint venture provides for the harvesting and banking of stem cells from
both cord blood (hematopoietic) as well as cord tissue (mesenchymal) locally or
alternatively off shore in Belgium. The Lazaron laboratory located in Cape Town
will be upgraded to cater for the increase in volumes and will meet the highest
quality standards applied by Cryo-Save around the world.
The joint venture will trade under the name Cryo-Save South Africa.
The conditions precedent to the concluding of this establishment of joint
venture and sale of businesses to the joint venture is subject to the approval
of both company`s shareholders, directors and regulatory bodies.
FURTHER ANNOUNCEMENT AND RENEWAL OF CAUTIONARY
The joint venture and the disposal of Lazaron`s business is subject to a number
of conditions precedent which will be detailed in a terms announcement that will
be made in due course. Accordingly, shareholders are advised that they should
continue to exercise caution when dealing in their securities until a further
announcement in this regard is made.
Johannesburg
01 June 2011
Sponsor
Arcay Moela Sponsor (Proprietary) Limited
Date: 02/06/2011 07:48:01 Produced by the JSE SENS Department.
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