April 4, 2013 -- Beximco Pharmaceuticals Limited ("BPL" or "Company"; AIM Symbol: BXP) announces the resignation of Ahsanul Karim and the appointment to the Board of Directors of Faheemul Huq as a Non-Executive Director of the Company.
Mr Karim's resignation was accepted by the Board at a Board meeting on 3 April 2013, becoming effective immediately. Mr Karim resigned for personal reasons and the board wishes to thank Mr Karim for the guidance and contribution given while a director of the Company.
At the same time the board would like to welcome Mr Huq to the Board. Mr Huq (48) is a Barrister-at-Law in England and Wales, an Advocate to the Supreme Court of Bangladesh and a member of the Bangladesh Supreme Court and Dhaka Bar Associations. He is working at the law firm of Huq and Company where he advises local and international companies on a variety of legal subjects including Corporate law, Corporate Governance and International Arbitration. Mr Huq received LLB (Hon's) from both the University of Dhaka, Bangladesh and Wolverhampton, UK.
Mr Huq has been appointed for an initial term of three years, subject to shareholder approval at the Company's next AGM. As one of the independent directors, Mr Huq will take over the role of Chairman of the reconstituted Audit Committee with immediate effect.
Additional information about Mr Huq required under Schedule 2 (g) of the AIM Rules:
AB Bank Limited
Bangladesh Export Import Company Limited
There is no further information required to be disclosed under Schedule 2 (g) of the AIM Rules.
For further enquiries please contact:
Nazmul Hassan MP, Managing Director
Tel: +880 2 861 9151, ext.20080
Md. Asad Ullah, FCS, Executive Director & Company Secretary
Tel; +880 2 8618220-1, Ext 10140
Libertas Capital Corporate Finance (Nomad)
Tel: +44 (0)20 7569 9650
Daniel Stewart & Company (Broker)
Tel: +44 (0)20 7776 6550
Simon Conway / Susan Stuart / Victoria Foster-Mitchell
Tel: +44 (0)20 7269 7169
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 etc. Ensuring access to quality medicines is the powerful aspiration that motivates 2,700 employees of the Company.
Beximco Pharma's state-of-the-art manufacturing facilities are certified by global regulatory authorities of Australia, European Union, Gulf nations, and Brazil, 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 Mauritius, Kenya, Ghana and Nigeria, Pacific Island and Latin & Central American countries, Middle East and South East Asia, including Singapore, Malaysia, Philippines and Hong Kong.