JDH - Agreement regarding Lazaron Biotechnologies (SA) Ltd and Withdrawal of
Cautionary Announcement
John Daniel Holdings Limited
Registration number 1998/013215/06)
SHARE CODE: JDH
ISIN: ZAE000044343
(`JDH` or `the company`)
Agreement regarding Lazaron Biotechnologies (SA) Ltd and Withdrawal of
Cautionary Announcement
LPC Manhattan Sponsors (Pty) Ltd is authorized to announce that further to the
cautionary announcement dated 24 June 2004 regarding the acquisition of an
interest in a bio-technology company referred to as `Bioco` and a further
cautionary announcement dated 27 August 2004, JDH has reached an agreement for
the acquisition of a 25% stake in Lazaron, a newly incorporated Biotechnology
Company. Lazaron has obtained the exclusive licence for the commercialization
of all technologies emanating from research conducted in the field of animal and
human stem cell research from the biotechnology laboratories in the Department
of Animal Sciences of the University of Stellenbosch.
The purchase consideration is settled at nominal share value. JDH will also
provide a short term loan in the amount of R2.5 million to Lazaron for the
acquisition of a specialized stem cell sorter.
Lazaron will shortly commence a private placement of shares to institutions and
medical professionals, consequently it is envisaged that the JDH shareholding
will dilute to around 15% in future.
The board views the acquisition as a very strategic investment in line with the
adopted Vision 2005 Business Strategy.
Stakeholders are advised that they no longer need to exercise caution in dealing
in the company`s shares. Lazaron has scheduled a press conference for 10H00 on
Wednesday, 1 September 2004 at which time Lazaron will provide full details of
its business strategy together with its advances in stem cell research at the
cutting edge of medical sciences.
Stellenbosch
31 August 2004
Sponsor
LPC Manhattan Sponsors (Pty) Ltd
(Registration number 1999/024792/07)
Date: 31/08/2004 04:25:03 PM
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