Beximco Pharmaceuticals Ltd Notification of Preliminary Results and AGM (9407L)

TIDMBXP

RNS Number : 9407L

Beximco Pharmaceuticals Ltd

07 October 2016

BEXIMCO PHARMACEUTICALS LTD.

7(th) October, 2016

Notification of Preliminary Results and Annual General Meeting

Beximco Pharmaceuticals Ltd. (or "Company"; LSE-AIM: BXP) today announces information for the shareholders of the Company that the Board of Directors at their meeting held on 6(th) October 2016 has decided the following:

 
 1.                         Recommended Dividend       :             5% final cash dividend 
                             for the period of 18                     i.e. Taka 0.50 per share, 
                             months ended on 30(th)                   in addition to 10% interim 
                             June, 2016                               cash and 5% stock dividend 
                                                                      recommended by the Board 
                                                                      of Directors of the Company 
                                                                      on April 20, 2016 having 
                                                                      record date as May 12, 
                                                                      2016. 
 
                                                                      With 10% interim cash 
                                                                      dividend already paid, 
                                                                      the cumulative dividend 
                                                                      for the period amounts 
                                                                      to 15% cash and 5% stock. 
-------------------------  -------------------------  ------------  ----------------------------------- 
 2.                         Record date                :             The Record date for entitlement 
                                                                      of 5% final cash dividend 
                                                                      will be November 1, 2016. 
                                                                      The Shareholders whose 
                                                                      names appear in the Share 
                                                                      Register of the Company 
                                                                      or in the Depository 
                                                                      Register on the record 
                                                                      date i.e. November 1, 
                                                                      2016 will be entitled 
                                                                      to receive the 5% final 
                                                                      cash dividend. 
 
                                                                      5% stock dividend will 
                                                                      be entitled by the shareholders 
                                                                      whose names appeared 
                                                                      in the Share Register 
                                                                      of the Company or in 
                                                                      the Depository Register 
                                                                      on the earlier declared 
                                                                      record date i.e. May 
                                                                      12, 2016. 
-------------------------  -------------------------  ------------  ----------------------------------- 
 3.                         Date & Time of 40(th)      :             19 November, 2016 at 
                             AGM                                      10.30 AM 
-------------------------  -------------------------  ------------  ----------------------------------- 
 4.                         Venue of 40(th) AGM        :             Beximco Industrial Park, 
                                                                      Sarabo, 
                                                                      Kashimpur, Gazipur. 
-------------------------  -------------------------  ------------  ----------------------------------- 
 5.                         The Financial highlights for the 18 months period 
                             ended on 30 June, 2016: 
-------------------------  ---------------------------------------------------------------------------- 
                             Jan 15-                   Jan 16-       Jan 15             Jan 14- 
                              Jun 16                    Jun 16        - Dec 15           Dec 14 
                              (18 months)               (6 months)    (12 months)        (12 months) 
--------------------------  ------------------------  ------------  -----------------  ---------------- 
 Profit before 
  Tax (Taka in thousand)                   3,657,838     1,320,708          2,337,130         2,109,556 
--------------------------  ------------------------  ------------  -----------------  ---------------- 
 Profit After Tax 
  (Taka in thousand)                       2,948,054       993,769          1,954,285         1,528,298 
--------------------------  ------------------------  ------------  -----------------  ---------------- 
 Earnings Per Share 
  (Taka)                                        7.63          2.57               5.06              3.96 
--------------------------  ------------------------  ------------  -----------------  ---------------- 
 Net Asset Value             As on Jun 30, 2016: Taka 59.70 
  per Share (NAV)             As on Dec 31, 2014: Taka 56.87 
--------------------------  --------------------------------------------------------------------------- 
 Net Operating               For Jan 15 - Jun 16 (18 months) 
  Cash flow per               : Taka 8.21 
  Share                       For Jan 14- Dec 14 (12 months) 
                              : Taka 6.02 
--------------------------  --------------------------------------------------------------------------- 
 
 

For further information please visit www.beximco-pharma.com or enquire to:

Beximco Pharma

Nazmul Hassan MP, Managing Director

Tel: [phone], ext.20080

Md. Asad Ullah, FCS, Executive Director & Company Secretary

Tel; [phone], [phone], Ext 10140

SPARK Advisory Partners Limited (Nominated Adviser)

Mark Brady / Sean Wyndham-Quin

Tel: [phone] / 3555

FTI Consulting

Simon Conway / Victoria Foster Mitchell

Tel: [phone]

Notes to Editors

About Beximco Pharmaceuticals Limited

Founded in 1976 and based in Dhaka, Bangladesh, Beximco Pharma manufactures and sells generic pharmaceutical formulation products and active pharmaceutical ingredients. The Company also undertakes contract manufacturing for multinational and leading global generic pharmaceutical companies. The Company operates from a 23 acre site in Dhaka and has manufacturing facilities for producing various drugs in different delivery systems such as tablets, capsules, liquids, semi-solids, intravenous fluids, metered dose inhalers, dry powder inhalers, sterile ophthalmic drops, prefilled syringes, injectables, nebulizer solutions, oral soluble films etc. Ensuring access to quality medicines is the powerful aspiration that motivates 3,000 employees of the Company.

Beximco Pharma's state-of-the-art manufacturing facilities are certified by global regulatory authorities of Australia, Europe, Latin America, Canada and the US, among others. The Company's products are sold to retail outlets, medical institutions and other pharmaceutical manufacturers in Bangladesh, in regional markets such as Sri Lanka, Nepal, Bhutan, Vietnam, Cambodia and Myanmar and in other markets overseas, principally in Africa, including South Africa, Mauritius, Kenya, Ghana, Ethiopia and Nigeria; Pacific Island; Latin and Central American countries; Middle East, Central Asia, South East Asia, including Singapore, Malaysia, Indonesia, Philippines and Hong Kong; Europe, Including Austria, Germany and Romania and Austria and Australia.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 07, 2016 02:00 ET (06:00 GMT)