Last checked at 6 May 2016 07:00
BEXIMCO PHARMACEUTICALS LTD.
6 May 2016
Change of Accounting Reference Date
("Beximco Pharma", "BPL" or "the Company")
Beximco Pharmaceuticals Ltd. (AIM Symbol: BXP), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, today announces that it has changed its accounting reference date from 31 December to 30 June, with immediate effect.
This change is being made pursuant to the Directive issued by the Bangladesh Securities and Exchange Commission (No. SEC/SRMIC/2011/ 1240/445) dated April 27, 2016 for all companies excepting Banks, Insurance and Non-banking Financial Institutions to follow July-June as their income year with effect from July 1, 2016, in compliance with the provision of the Finance Act 2015.
The Company has already announced its preliminary results for the 12 months ended 31 December 2015 on 21 April, 2016 and will publish audited accounts for that period on 9 May 2016. In addition, the Company will extend this financial period to 30 June 2016 and produce audited accounts for the 18 months from 1 January 2015 until 30 June 2016 and submit those accounts to shareholders for approval at the postponed 40th Annual General Meeting of the Company, which will now be held before the end of the calendar year.
Further to its obligations under the Aim Rules for Companies, BPL will announce its forthcoming interim and final results as follows:
Accounting period | Announcement/Publication |
Final (audited) Results for 12m to 31 December 2015 | To be published on 9 May 2016 |
Final (audited) Results for 18m period to 30 June 2016 | By 31 October 2016 (Note 1) |
Interims (unaudited) for 6m to 31 December 2016 | By 31 January 2017 (Note 2) |
Final (audited) Results for 12m to 30 June 2017 | By 31 October 2017 (Note 1) |
Notes:
1. Under the AIM Rules for Companies, BPL would have until 31 December to publish its Final Results for the financial year ending 30 June, but the Bangladesh SEC requires that audited Final Results must be announced within 120 days of the period end, hence 31 October.
2. Under the AIM Rules for Companies, BPL would have until 31 March to publish its unaudited interim results for the six months ending 31 December, but the Bangladesh SEC requires that unaudited interim results must be announced within one month of the period end, hence 31 January.
Ends
For further information please visit www.beximcopharma.com or enquire to:
Beximco Pharma
Nazmul Hassan MP, Managing Director
Tel: +880 2 58611001, ext.20080
Md. Asad Ullah, FCS, Executive Director & Company Secretary
Tel: +880 2 58611891, +880 2 58612040, Ext 10140
SPARK Advisory Partners Limited (Nominated Adviser)
Mark Brady / Sean Wyndham-Quin
Tel: +44 (0)20 3368 3551 / 3555
Daniel Stewart & Company plc (Broker)
Martin Lampshire
Tel: +44 (0)20 7776 6550
FTI Consulting
Simon Conway / Victoria Foster Mitchell
Tel: +44 (0)20 3727 1000
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 Australia.