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BIO - BioScience Brands Limited - Trading Statement BioScience Brands Limited Registration number 2005/005805/07 Incorporated in the Republic of South Africa Share code: BIO ISIN code: ZAE000115036 TRADING STATEMENT In terms of the Listings Requirements of the JSE Limited ("the JSE"), listed companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the next period to be reported on will be more than 20% different from those of the previous corresponding period or from a profit forecast previously provided to the market in relation to such period. The loss per share and headline loss per share for the six months ended 31 December 2010 are expected to be between 0.350 and 0.420 cents and 0.125 and 0.150 cents respectively compared to the loss per share of 0.0565 cents and headline loss per share of 0.0575 cents as reported for the last interim period. BioScience Brands Limited has continued to trade in a tough consumer environment where the discretionary spend on complementary health and nutritional products remains depressed. Furthermore, Bioharmony has been in dispute with Patrick Holford over his purported right to terminate the exclusive licence agreement applicable to 15 Bioharmony products as ruled by an arbitration. Bioharmony is in the process of appealing the arbitrator`s award, Although fixed costs continue to be well managed, this dispute has resulted in Bioharmony incurring legal costs in the period. In order to focus resources on its larger brands, BioScience intended to reverse the Phyto Nova acquisition by returning the business to Thebe Medicare (Pty) Ltd, now Akacia Healthcare (Pty) Ltd, and receiving back the 257 142 857 shares issued just prior to listing. This transaction did not proceed but nevertheless the Phyto Nova intangible asset was impaired by R6.5m from R9m during this interim reporting period to reflect its current valuation. Subsequent to the interim reporting period, BioScience has disposed of the Phyto Nova brand to Akacia Healthcare (Pty) Ltd for R2.5 million thereby alleviating some pressure on working capital and fulfilling the strategy to focus resources on its larger brands. The financial information on which this trading statement is based has not been reviewed or reported on by the Group`s external auditors. The publication of the results is expected on or about 18th March 2011. Durban 18 February 2011 Designated Adviser PricewaterhouseCoopers Corporate Finance (Pty) Ltd Date: 18/02/2011 12:00:03 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
