Beximco Pharmaceuticals Ltd Notification of Preliminary Results and AGM (2382F)

TIDMBXP

RNS Number : 2382F

Beximco Pharmaceuticals Ltd

26 October 2018

BEXIMCO PHARMACEUTICALS LTD.

26 October 2018

Notification of Preliminary Results and Annual General Meeting

Beximco Pharmaceuticals Ltd. ("BPL", "Beximco Pharma" or "Company"; AIM Symbol: BXP, LEI No.: 213800IMBBD6TIOQGB56), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, today announces information for shareholders of the Company that the Board of Directors decided at their meeting held on 25 October 2018. Please see further detail as follows:

 
 1.   To recommend the approval      :   The Audited Financial Statements 
       of the Financial Statements        for the year ended 30 June 
       for the year ended 30 June         2018 have been approved. The 
       2018                               full accounts are expected 
                                          to be announced by 7 November 
                                          2018 
     ----------------------------- 
 2.   Date & Time of 42(nd) AGM      :   22 December 2018 at 10.30 
       of the Company for the year        am 
       ended 30 June 2018 
     -----------------------------      --------------------------------- 
 3.   Venue of AGM                   :   Beximco Industrial Park, Sarabo, 
                                          Kashimpur, Gazipur, Bangladesh 
     -----------------------------      --------------------------------- 
 4.   Proposed Dividend for the      :   12.5% Cash Dividend (i.e. 
       year ended 30 June 2018            Tk 1.25 per share) 
     -----------------------------      --------------------------------- 
 5.   Record date                    :   26 November 2018 
     -----------------------------      --------------------------------- 
 

During the meeting, the Board of Directors also decided to hold an Extraordinary General Meeting (EGM) to pass Special Resolutions to amend certain Clauses of Memorandum of Association and Articles of Association of the Company. The following decisions were made with respect to the EGM:

 
 Record date          26 November 2018. 
 Date & Time of EGM   22 December 2018 at 10.00 am 
                       Bangladesh Standard Time 
                     --------------------------------- 
 Venue                Beximco Industrial Park, Sarabo, 
                       Kashimpur, Gazipur 
                     --------------------------------- 
 

Comparative Financial Disclosures:

Beximco Pharmaceuticals Limited (Stand-alone)

 
 Particulars                        Year ended          Year ended 
                                  30 June 2018        30 June 2017 
 Net Profit after Tax         Tk.2,558,971,263    Tk.2,226,695,124 
                            ------------------  ------------------ 
 Earnings Per Share (EPS)              Tk.6.31             Tk.5.49 
                            ------------------  ------------------ 
 Net Asset Value (NAV)       Tk.27,104,389,931   Tk.25,072,425,900 
                            ------------------  ------------------ 
 Net Asset Value per share            Tk.66.83            Tk.61.82 
  (NAVPS) 
                            ------------------  ------------------ 
 Net Operating Cash Flow               Tk.4.56            Tk.5.89* 
  Per Share (NOCFPS) 
                            ------------------  ------------------ 
 

* Restated

Beximco Pharmaceuticals Limited and its Subsidiary (Consolidated)

 
 Particulars                                Year ended 
                                          30 June 2018 
 Net Profit after Tax                 Tk.2,532,654,301 
                                    ------------------ 
 Earnings Per Share (EPS)                      Tk.6.25 
                                    ------------------ 
 Net Asset Value (NAV)               Tk.27,081,962,616 
                                    ------------------ 
 Net Asset Value per share (NAVPS)            Tk.66.78 
                                    ------------------ 
 Net Operating Cash Flow Per Share             Tk.4.49 
  (NOCFPS) 
                                    ------------------ 
 

For further information please visit www.beximcopharma.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], Ext 10140

SPARK Advisory Partners Limited (Nominated Adviser)

Mark Brady / Andrew Emmott

Tel: [phone] / 3555

Northland Capital Partners Limited (Broker)

Tom Price

Tel: [phone]

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, nebuliser solutions, oral soluble films etc. Ensuring access to quality medicines is the powerful aspiration that motivates 4,200 employees of the Company.

Beximco Pharma's state-of-the-art manufacturing facilities are certified by global regulatory authorities of USA, Europe, Australia, Canada, GCC and Latin America, 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 South East Asia, including Singapore, Thailand, Taiwan, Malaysia, Indonesia, Philippines and Hong Kong; Africa, including South Africa, Mauritius, Kenya, Ghana, Ethiopia, Uganda and Nigeria; Central Asia, including Azerbaijan; Middle East, including Kuwait and Jordan; Pacific Island countries; Latin and Central American countries; Europe, including Austria, Germany and Romania; Australia and North America, including the USA and Canada.

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October 26, 2018 02:00 ET (06:00 GMT)