JDH - John Daniel Holdings Limited - Lazaron general offer results

JDH - John Daniel Holdings Limited - Lazaron general offer results              
announcement and notice in terms of Section 124 of the Companies Act, 2008      
JOHN DANIEL HOLDINGS LIMITED              LAZARON BIOTECHNOLOGIES (SA)          
(Incorporated in the Republic of South    LIMITED                               
Africa)                                   (Incorporated in the Republic of      
(Registration Number 1998/013215/06)      South Africa)                         
Share code: JDH                           (Registration Number                  
ISIN: ZAE 000136677                       2004/004630/06)                       
("JDH")                                   (Lazaron")                            
                                                                                
                                                                                
LAZARON GENERAL OFFER RESULTS ANNOUNCEMENT AND NOTICE IN TERMS OF SECTION 124   
OF THE COMPANIES ACT, 2008 (NO. 71 OF 2008) ("the Act")                         
The board of directors of Lazaron advise shareholders that the general offer,   
as was detailed in a circular to Lazaron shareholders dated 7 November 2011,    
which offer was to swap into listed JDH shares on the basis of 1 JDH share      
for every 5 Lazaron shares held, closed on 9 March 2012.                        
A total of 187 878 066 Lazaron shares (representing 91% of the Lazaron issued   
share capital) accepted the JDH general offer with an issue of 37 575 613 JDH   
shares at the 5:1 ratio. JDH`s stake in Lazaron increased from 44.18% to        
94.96%.                                                                         
The circular to Lazaron shareholders, which included the terms of the general   
offer, made provision for the implementation of section 124 of the Act which    
section provides for the offeror to acquire the remaining minority shares in    
the event that the offeror (being JDH) achieved a minimum 90% acceptance        
level, by minority shareholders.                                                
JDH is pleased to confirm that the required 90% uptake by Lazaron               
shareholders of the general offer was exceeded within the four month period     
as stipulated in section 124(1) of the Act and accordingly elect to             
expropriate the remaining 9% Lazaron minority shareholders by offering those    
minority shareholders an equivalent offer as per the general offer, i.e. 1      
JDH share for every 5 Lazaron shares held.                                      
Once section 124 has been successfully invoked, Lazaron will become a wholly-   
owned subsidiary of JDH.                                                        
In due course, JDH will formally notify the remaining Lazaron shareholders in   
the prescribed manner and form that:                                            
The offer has been accepted and to what extent; and                             
JDH desires to acquire all the remaining securities on the same basis as the    
general offer.                                                                  
Should any Lazaron minority shareholders have any queries regarding this,       
please contact the financial director or company secretary of the Company at    
087 808 0200.                                                                   
Johannesburg                                                                    
9 March 2012                                                                    
Sponsor                                                                         
Arcay Moela Sponsor (Pty) Ltd                                                   
Date: 09/03/2012 16:35:01 Supplied by www.sharenet.co.za                     
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