Wrap Text
Recovery of Heatlhcare Asset and General Update
NUMERAL LTD
(Formerly Go Life International Ltd)
(Incorporated in the Republic of Mauritius)
(Registration number: 098177 C1/GBL)
Primary Listing SEM share code: GOLI.N0000
Secondary Listing JSE share code: XII
ISIN: MU0330N00004
("the Company" or "Numeral")
RECOVERY OF HEALTHCARE ASSET AND GENERAL UPDATE
Background to the Company
The Company was originally founded in 2011 with a focus on nutraceuticals and healthcare and
in 2015 developed into a broader multi-faceted healthcare company, offering a comprehensive
range of products and services, including the Bon Health Frail Care Clinics and properties. During
2020 it acquired a 50% joint venture in a company known as Cryo-Save Proprietary Limited, a stem
cell technology company.
The Company experienced a series of difficulties as announced during 2019, 2020 and 2021,
including the liquidation of its wholly-owned South African subsidiary and the discovery of the loss
of its Bon Health investments. At this time, the Company fully impaired all of its investments.
Furthermore, during 2020, shareholders were advised that it had come to the attention of the
Board that certain former group directors had been misrepresenting to various parties that they
were officially representing Go Life International and/or its subsidiaries and, in certain instances,
had been trying to interpose themselves between transactions originally concluded by the Go Life
Group without any authority from Go Life.
This led to a board restructure in 2022 and various efforts to investigate what had transpired, as
well as to secure funding for the Company and to seek recovery of assets for the Company.
During 2023, the Company announced that Company could not recover the Bon Health
Properties. However, the Company had managed to recover 132 500 000 Bon Health shares of
the 134 000 000 Bon Health shares previously issued at a cost of R102 500 000 ($6 833 333).
The new board and funders continued with the regularisation of the Company and catching up
on the audits. During 2023 and 2024, efforts continued to investigate what had happened with
former assets of the group, some of which were lost during the liquidation of the South African
subsidiary, sold off by the liquidators, were abandoned and/or were attached or acquired in
settlement of obligations.
Recovery of 50% interest in Cryo-Save
Shareholders are referred to the SENS announcement dated 18 December 2020 wherein the
Company (formerly known as Go Life) advised that it had added Cryo-Save to its group of
companies in a joint venture with Esperite NV. Cryo-Save is part of the Cryo-Save Group, Europe's
largest private cord blood and tissue stem cell bank. Through its 3 international laboratories in
Geneva, UAE and South Africa, Cryo-Save Group globally stores hundreds of thousands of samples
and is represented in over 30 countries on six continents. Cryo-Save promotes the adoption of
personalised and regenerative medicine among South Africans to improve their quality of life.
The former acquisition of Cryo-Save fell within the Company's strategy of being on the cutting
edge of medical technology, with Cryo-Save expected to be incorporated into the then
marketing strategy of the Go Life as a more direct approach to both client and medical
practitioners are envisaged. The fact that the general population reflects a keen interest in stem
cell technology, underlined the decision of the then Go Life Board to pursue the acquisition of
Cryo-Save. Go Life believed that Cryo-Save could flourish into a national jewel and a forerunner
in the industry.
The Board is pleased to announce that it recently managed to recover 50% of Cryo-Save on behalf
of Numeral, which has been returned to the Group. There was no cost to the Company involved
in the recovery of the Cryo-Save interest.
The effective date of the recovery of the 50% joint venture interest will be with effect from
1 September 2024. The Company will negotiate to secure an additional 1% of Cryo-Save in order
that it will be able to consolidate Cryo-Save into the group results going forward and a further
announcement will be made in due course.
More detailed financial information will be published in due course in relation to Cryo-Save.
Other nutraceutical and Biotech investments
The Company is making meaningful progress in continuing in its efforts to rebuild and grow the
Group on the Biotechnology and Health segment, both organically and by way of acquisition,
and will be leveraging its investment in Cryo-Save as a core upstream anchor asset in the biotech
and stemtech vertical, servicing downstream brands with their laboratory, stemcell, stemcell
derivative and allied processing requirements.
By order of the Board
26 November 2024
Executive Directors: Non-Executive Directors:
Dave van Niekerk Mohamed Yusuf Sooklall
Neville Graham Dr Aansa Devi Bedacee
JSE Sponsor: Management Company and Company Secretary:
AcaciaCap Advisors Proprietary Limited LTS Management Services Limited
Date: 26-11-2024 02:20:00
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