Salveo Holding S.A.: Salveo's Statement on Alleged Violation of Law

Plan-les-ouates, Switzerland (ots/PRNewswire) -

Cryo-Save Group N.V. announced on Friday 26 July 2013 that it
believes that Salveo's decision to convene an extraordinary general
meeting of shareholders (EGM) violates various core principles of
Dutch corporate law. Salveo rejects these allegations and confirms
that it has acted in compliance with all relevant rules and
regulations and will continue to do so.

(Logo: http://photos.prnewswire.com/prnh/20130728/630443 )

As an investor Salveo is deeply concerned by the fact that
Cryo-Save is without a Chief Executive Officer (CEO) for an undefined
period of time. Mr. Van Tulder announced his resignation as CEO on 30
May 2013, which means that Cryo-Save now approaches its 60th day
without a CEO. In the meantime shareholders have heard few specifics
regarding the CEO succession. Not willing to accept that Cryo-Save
would be left to flounder without a CEO, Salveo as Cryo-Save's
largest shareholder has used its rights under article 18.2 of
Cryo-Save's articles of association to convene an EGM to be held on 9
September 2013. Thus giving Cryo-Save's board of directors a response
time of 108 days as from Salveo's written request to convene an EGM,
which Salveo deems to be a reasonable period.

Cryo-Save also stated that it believes that the appointment of Mr.
Amar as CEO is likely to cause conflict of interests and loyalty
issues referring to Mr. Amar's equity stake in Salveo Biotechnology,
a Genève based private laboratory specialized in stem cells
cryopreservation and cell culture founded in November 2011. Salveo
Biotechnology competes with Cryo-Save in Italy, Romania, Spain and
Switzerland. To address any potential conflicts of interest or
loyalty issues, Salveo will reduce its equity stake in Salveo
Biotechnology to a non-controlling interest prior to the EGM, and Mr.
Amar has agreed to resign from the board of directors of Salveo and
Salveo Biotechnology. Salveo is confident Cryo-Save's board of
directors will benefit from shareholder representation and Mr. Amar's
expertise and experience with regard to the stem cell storage
business.

Mr. Frédéric Amar stated: "I would be delighted to join Cryo-Save
as CEO and work collaboratively with the board of directors,
including Mr. John Van Leeuwen, to create a culture of leadership
dedicated to its customers and business partners. I am confident the
board of directors will benefit from my experience as chief executive
and my background in science, and I am committed to working with
Cryo-Save's management team to unlock Cryo-Save's significant
potential and value."

About Salveo Holding S.A.

Salveo Holding S.A., is a public limited liability company
(société anonyme) under the laws of the Grand Duchy of Luxembourg,
having its official seat in Luxembourg, Luxembourg, its office
address at 127, Rue de Mühlenbach, L - 2168, Luxembourg, Luxembourg,
and registered with the Luxembourg Commercial Register under number B
145379.

Enquiries:
Salveo Holding S.A.
Maica Perez, Communications Manager
+41-58-1000-176
maica.perez@salveo.com

http://savecryo-save.com

Photo:
http://photos.prnewswire.com/prnh/20130728/630443

ots Originaltext: Salveo Holding S.A.
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