12 November 2024
BEXIMCO PHARMACEUTICALS
LIMITED
Update on Interim Order
following decision by the Supreme Court of
Bangladesh
Beximco Pharmaceuticals Limited
("Beximco Pharma", "BPL" or "the Company"; AIM Symbol: BXP, LEI
No.: 213800IMBBD6TIOQGB56) provides an update on the Interim Order
following the Supreme Court of Bangladesh's issued decision earlier
today. This follows yesterday's announcement detailing the full-court hearing held on 11
November 2024 and the subsequent temporary
suspension of trading on
AIM.
The Bangladesh Supreme Court
Appellate Division today allowed Beximco Pharma's appeal against
the Interim Order regarding the appointment of a receiver to manage
the Beximco group of companies (which included Beximco Pharma), and
confirmed that its provisions will not apply to Beximco
Pharma.
Following this decision, the
Company's temporary suspension of trading on AIM has been lifted
with immediate effect.
With regards to the Writ Petition,
following this decision, the Bangladesh Supreme Court Appellate
Division has instructed the High Court to resolve the pending case
within two weeks.
Further announcements will be made
in due course.
For further information please
visit www.beximcopharma.com
or enquire to:
Beximco Pharma
S M Rabbur Reza, Chief Operating
Officer
Tel: +880 2 58611001,
Ext.20111
Mohammad Ali Nawaz, Chief Financial
Officer
Tel: +880 2 58611001,
Ext.20030
SPARK Advisory Partners Limited
(Nominated Adviser)
Mark Brady / Andrew Emmott / Adam
Dawes
Tel: +44 (0) 20 3368 3551 /
3555
SP Angel Corporate Finance LLP
(Broker)
Matthew Johnson
Tel: +44 (0) 20 3470 0470
FTI Consulting
Simon Conway / Victoria Foster
Mitchell / Sam Purewal
Tel: +44 (0) 20 3727 1000
Notes to Editors
About Beximco Pharmaceuticals
Limited
Beximco Pharma is a leading
manufacturer and exporter of medicines based in Bangladesh. Since
its inception in 1976, the Company remains committed to health and
wellbeing of people across all the continents by providing access
to contemporary medicines. Company's broad portfolio of generics
encompasses diverse delivery systems such as tablets, capsules,
liquids, semi-solids, intravenous fluids, metered dose inhalers,
dry powder inhalers, sterile ophthalmic drops, insulins, prefilled
syringes, injectables, nebuliser solutions, oral soluble films etc.
The Company also undertakes contract manufacturing for
multinational and leading global generic pharmaceutical
companies.
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 and it has a geographic footprint in more
than 50 countries. More than 5700 employees are driving the company
towards achieving its aspiration to be among the most admired
companies in the world.
