Beximco Pharma Regulatory News (BXP)

12 Feb 2007 15:51

Beximco Pharmaceuticals Ltd12 February 2007 BEXIMCO PHARMACEUTICALS LTD. Detention of Salman Rahman Beximco Pharmaceuticals Ltd. (the "Company") announces that Mr. Salman Rahman,Vice-Chairman of the Company was put under preventive detention under theSpecial Powers Act on 5 February 2007. This was subsequent to the declaration ofthe State of Emergency in Bangladesh on 11 January 2007, following postponementof the general election. Under the Special Powers Act, it is possible to bedetained without the accusation of any offence. Mr. Rahman served as Adviser for Private Sector Affairs to the then leader ofthe opposition Sheikh Hasina, President of Bangladesh Awami League, by virtue ofwhich, he is considered an important political personality in Bangladesh. The Company can confirm that no formal charges have been brought against Mr.Rahman and the reasons for his detention have not been given by the authorities.It is understood that over 25,000 people nationally, including political partyleaders and prominent businessmen, have been detained as part of this action. The detention has not in any way affected the operating performance of theCompany which continues to meet management expectations. Further announcements will be made as information becomes available. The resultsfor the year ending 31 December 2006 will be announced at the end of April 2007. For further enquiries please contact: Beximco PharmaNazmul Hassan, CEOTel: +880 2 861 9151, ext.2080 Libertas CapitalAamir QuraishiTel: +44 (0)20 7569 9650 This information is provided by RNS The company news service from the London Stock Exchange