Cryo-Save Group N.V. - EGM resolutions: new Board composition paves the way to a profitable future

Thomson Reuters ONENovember 21, 2013

Cryo-Save Group N.V. (Euronext: CRYO, `Cryo-Save`, or `the Group`), the leading international stem cell storage company and the largest family stem cell bank in Europe, announces that all proposed resolutions at today`s EGM were passed.

Cryo-Save, and the Group`s largest shareholder, Mr. Frédéric Amar together with Salveo Holding S.A. have now resolved all their disputes.

Mr. Walter Van Pottelberge and Mr. Ronald Lorijn remain non-executive directors of the Board of Cryo-Save and Mr. Van Pottelberge has been reconfirmed as the Chairman of the Board. Ms Karin Dorrepaal`s resignation has been accepted and the Group is grateful for her contribution during her tenure.

Cryo-Save`s Board of Directors has been strengthened by the appointment of 2 new non-executive directors.

Mr. Frédéric Amar with a degree in Crystallography (1990) and a degree in Pharmacy (Pharm.D.) from the Université de Pharmacie of Marseilles (1992) joins the board with a strong scientific background and a successful track record in building up and managing companies. He also founded Salveo Biotechnology S.A., a Geneva based private laboratory specialized in stem cells cryopreservation and cell culture and involved in cellular therapeutic applications research, with a commercial presence in Italy, Spain, Switzerland, Romania and Ukraine.

Mr. Gert-Jan van der Marel earned his Masters degree in Business Economics (1974) from the University of Groningen, The Netherlands and obtained his MBA from INSEAD, Fontainebleau, France (1978). Mr. Van der Marel brings valuable and highly relevant expertise in turnaround management and more than 30 years experience in international management.

Cryo-Save`s new Board will support the management to continue the implementation of the "Fit for Future" turnaround strategy, which is well on track and will ensure that the Company will swing back to profitability by year-end, leading to a sustainable profitable future and a healthy upside from the next wave of growth of stem cell therapy.

 

 

Enquiries:

Cryo-Save Group + 31 (0) 575 548 998
Walter van Pottelberge, Chairman

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Source: Cryo-Save Group N.V. via Thomson Reuters ONE

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