Beximco Pharmaceuticals Reaches Settlement With Bangladeshi Regulator Over Board Restructuring

01:44 AM EDT, 10/01/2026 (MT Newswires) -- Beximco Pharmaceuticals (BXP.L) reached an out-of-court settlement with the Bangladesh Securities and Exchange Commission, resolving two legal cases over the regulator's proposal to appoint nine additional independent nonexecutive directors to the company's board. Pursuant to the settlement, the London-listed pharmaceutical company will be able to restructure its board and the regulator will withdraw its nominees, provided the company withdraws its court proceedings, according to a Wednesday filing. Beximco Vice Chairman Salman Rahman will step down as part of the board restructuring. The new board will comprise three directors nominated by sponsors, one new managing director, one director representing IFIC Bank, and four independent directors. The appointments remain subject to due diligence and regulatory approvals in London and Bangladesh.