| Mon 13 Jun 2005, 10:00 | | JDH - Media Release Regarding Lazaron Initial publ |
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JDH - Media Release Regarding Lazaron Initial public offer
John Daniel Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1998/013215/06)
Share Code: JDH & ISIN: ZAE000044343
(`JDH` or `the Company` or `the Group`)
JOHN DANIEL HOLDINGS LIMITED - MEDIA RELEASE REGARDING LAZARON
BIOTECHNOLOGIES (SA) LTD (`Lazaron`) INITIAL PUBLIC OFFER
(IPO)
The Company is pleased to announce the opening of Lazaron`s
IPO. JDH currently holds a stake of 25% in Lazaron. This
will dilute to 18% in the event of full subscription of the
offer. JDH has a 5 year management agreement with Lazaron in
terms whereof Lazaron pays JDH a management fee of 5% of turn-
over for the first 5 years thereafter 21/2% in perpetuity.
The offer extends from 09H00 today 13 June 2005 and closes at
12H00 on 29 August 2005. In terms of the offer 14 000 000
ordinary shares in Lazaron are being offered at a subscription
price of 50 cents per share.
No application has been made for the listing of Lazaron
ordinary shares on the JSE Securities Exchange South Africa.
The media release herein below provides further details of the
business of Lazaron.
MEDIA RELEASE: FIRST AFRICAN STEM CELL BIOTECH COMPANY
ANNOUNCES IPO
Cape Town based Lazaron Biotechnologies (SA) Ltd today
announced the opening of its initial public share offer (IPO)
which closes on 29 August 2005. Lazaron is an associate
company of the listed venture capital group John Daniel
Holdings Ltd, which company focuses on investments in and
commercialisation of high technology products and services.
Africa`s first human cord blood stem cell bank will be open
for business in Cape Town from September this year and South
Africans have been invited to invest in this exciting business
venture.
From September, parents will be able to `bank` umbilical cord
blood collected from their new born children locally and from
this week, investors can purchase shares in the company which
has established this world-class technology in South Africa.
A newborn child`s stem cells which are collected and then
frozen and stored at the bank can in terms of current medical
technology be used later in the treatment of over 40 diseases,
should any of these be contracted by the child, including a
wide range of cancers, genetic diseases, immune system
deficiencies and blood disorders.
In addition, cord blood collected from a newborn has a one in
four chance of matching with the cellular makeup of siblings,
providing relief in these cases.
Stem cells are the primary cells in the body and have the
potential to develop (and differentiate) into many different
types of tissue and can thus be induced in a laboratory
environment to become cells with special functions, such as
contracting cells of the heart muscle or insulin producing
cells of the pancreas.
Stem cell research has made rapid gains in the last five years
and stem cell technology stands at the beginning of a
revolution in the medical sciences.
`Research has shown that stem cells are fundamental to the
future of disease treatment and cure and its potential effects
are so enormous that we cannot even begin to contemplate its
future benefits,` said Harry Minnie, CEO of John Daniel
Holdings Ltd and a founding director of Lazaron
Biotechnologies, which is backing the huge advances in stem
cell research currently taking place in South Africa.
`In effect, stem cells can not only treat dreaded diseases but
save lives and by banking your child`s stem cells, you are
providing an incalculable insurance for your child`s health,`
he added.
Lazaron Biotechnologies (SA) Ltd was established two years ago
to focus on the development, discovery and commercialisation
of regenerative cell and medicine technology.
Together with a group of leading South African medical
professionals, scientists, international scientific advisors
and various technology partners, Lazaron identified the need
for a cryogenic (low temperature) stem cell bank in this
country. After extensive research and investment, the
country`s first bank will come into operation from September
2005 and will be based in Cape Town.
Internationally it currently costs parents an average of
between R12 000 to R25 000 for collection of cord blood and
storage in various banks abroad, plus annual storage fees of
between R600 and R1000/per annum.
Lazaron will offer its collection at R6500 and storage at
around R120/year.
Leading Lazaron`s scientific research programme is Dr Daniel
Barry, a world renowned researcher and lecturer at the
University of Stellenbosch in the department of Animal
Sciences, Biotechnology Laboratories.
Barry`s research on stem cells was chosen by South African
billionaire Mark Shuttleworth as one of three experimental
projects which he conducted in outer space in 2001. The
experiment`s results generated such intense global interest
that Barry intensified his research, culminating in a decision
to commercialise certain aspects of this research, in line
with international trends.
In addition to the stem cell bank, a team under Barry, a
director of Lazaron, is at an advanced stage of research into
various other aspects of stem cell therapy which show dramatic
commercial prospects. These include the treatment of tendon
injuries which plague race horses, the breeding of TB-free
buffalo and important cardiovascular research which could have
a dramatic impact on treating human heart conditions.
Lazaron has now been established as a public company which is
offering shares to the public from this week.
Minnie explained that Lazaron was the first company to
commercialise stem cell technology and to make available this
technology in Africa. Forecasts as shown in Lazaron`s
prospectus which is available to potential shareholders,
showed that the company was set for potentially major
commercial success.
`Public owned Biotechnology companies provide the bridge
between pure research and commercialisation and are hugely
successful in developed countries around the world,` said
Minnie.
`Lazaron has been established to become the South African
commercial home for our leading scientists and academic
practitioners to further develop our already advanced research
into stem cell technology which is currently the most exciting
development in the history of the medical sciences.
Date: 13 June 2005
For more information
Harry Minnie 021 809 2100
Or
www.Lazaron.co.za
Sponsor
LPC Manhattan Moela (Pty) Ltd
Date: 13/06/2005 03:29:07 PM
Produced by the JSE SENS Department
