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JDH - John Daniel Holdings Limited - Press release relating to Cryo-Save

Release Date: 02/06/2011 07:48
Code(s): JDH
Wrap Text

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 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.

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