Last checked at 1 Feb 2010 09:15
BEXIMCO PHARMACEUTICALS LTD.
1 February, 2010
First Preference Share Conversion
Beximco Pharmaceuticals Limited ("BPL" or "the Company"; AIM Symbol: BXP) announces that the first half of the 41,000,000 fully convertible, six month 5% dividend, preference shares of Taka 100 each ("Preference Shares") that were issued pursuant to the announcement of 11 January 2010, has today been converted into 16,169,191 ordinary shares ("Conversion").
Conversion occurred at a share price of BDT126.66, being a 25% discount to the weighted average price of the Company's shares on the Dhaka Stock Exchange in the preceding three-month period.
Following Conversion, the Company's issued share capital consists of 167,318,487 ordinary shares of Taka 10, each with voting rights ('Ordinary Shares'). Of these Ordinary Shares, 40,911,188 (representing 24.45% of the issued share capital) are represented by Global Depositary Receipts ("GDR"), each representing one Ordinary Share of Taka 10, which are admitted to trading on the AIM market of the London Stock Exchange.
The Company is aware of Directors and Related Parties having shareholdings, following the Conversion, as detailed below:
| Shareholder | Number of Ordinary Shares | Percentage of issued share capital |
|
|
|
|
| Sohail Rahman | 2,400,346 | 1.43 |
| Salman Rahman | 1,756,844 | 1.05 |
| Farida Huq | 4,516 | 0.003 |
| A.A. Khan | 763,306 | 0.46 |
| N. Hassan | 5,794 | 0.003 |
| Beximco (Holdings) Limited | 13,020,136 | 7.78 |
| New Dacca Industries Limited | 2,506,710 | 1.50 |
| Bangladesh Export Import Company Limited | 1,756,826 | 1.05 |
Shareholders receiving the new Ordinary Shares are subject to a lock-in period of one year effective from 5th November 2009. The Company will apply for the Ordinary Shares to be admitted to trading on Dhaka and Chittagong stock exchanges once the lock-in period has expired.
The remaining half of the Preference Shares will be converted into ordinary shares on 2 May 2010 at 25% discount to the weighted average price of the Dhaka Stock Exchange during the three-months ending 30 April 2010.
For further information please visit www.beximco-pharma.com or enquire to:
Beximco Pharma
Nazmul Hassan, MP
Managing Director
Tel: +880 2 861 9151, ext.2080
Md. Asad Ullah, FCS, Company Secretary
Tel; +880 2 8618220-1, Ext 1140
Libertas Capital
Jakob Kinde / Anthony Rowland
Tel: +44 (0)20 7569 9650
Financial Dynamics
Jonathan Birt / Susan Quigley
Tel: +44 (0)20 7269 7169
Notes to Editors
About Beximco Pharmaceuticals Limited
Founded in 1976 and based in Dhaka, Bangladesh, BPL manufactures and sells generic pharmaceutical formulation products, active pharmaceutical ingredients and intravenous fluids. The Company also manufactures and markets its own branded generics for almost all diseases. The Company also undertakes contract manufacturing for multinational pharmaceutical companies. The Company operates from a 20 acre site in Dhaka and currently employs over 2,400 staff.
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 East Africa, Pacific Island and Central American countries and South East Asia, including Singapore and Hong Kong.