Day: July 3, 2023

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Aztiq and Innobic Announce Pricing of Secondary Sale of Lotus Common Stock by AEMH

LONDON and BANGKOK, Thailand, July 03, 2023 (GLOBE NEWSWIRE) — Aztiq Pharma Partners (“Aztiq”), a private equity company focused on the life sciences sector, and Innobic (Asia) Company Limited (“Innobic”), the life science arm of Thai oil and gas conglomerate PTT Public Company Limited (“PTT”) (collectively, “the shareholders”), today announced the pricing of a sale of 25,095,850 shares of Lotus Pharmaceuticals (1795:TT; “Lotus,” “the company”), a multinational pharmaceutical company, at a price of NT$297 per share. The trade will be settled on July 5, 2023, subject to satisfaction of customary settlement procedures. The sale is being executed by Alvogen Emerging Market Holdings Limited (“AEMH”), which will continue to own 41% of Lotus common stock after the close of the transaction. Inclusive of Innobic’s direct holdings of Lotus, the shareholders will continue to own approximately 47.7% of the company.

Robert Wessman, Founder of Aztiq, commented: “Today’s announcement is a big step in the evolution of Lotus that started as a company whose business was nearly entirely domestic. The company today has evolved into a global pharmaceutical company with a vast portfolio of products and a global reach that touches nearly every corner of the world through the company’s export business or through Lotus’s own commercial infrastructure that spreads throughout Asia. As Chairman, I look forward to continuing to work with Lotus’ proven management team that has led this transformation to collaborate on strategy and grow the business going forward.”

Dr. Buranin Rattanasombat, Chief New Business and Infrastructure Officer of PTT, and Chairman of Innobic, commented: “This transaction is a significant step for Lotus as it concurrently increases free-float of the stock and diversifies the shareholder base with strong institutional investors. As a leading shareholder of Lotus, our interests remain truly aligned with those of the company and its valued shareholders.”

J.P. Morgan and Credit Suisse are acting as placing agents for the trade.

About Aztiq

Aztiq is a visionary healthcare focused private equity company dedicated to fostering innovation and driving positive change within the industry. Led by Robert Wessman and a team of veteran entrepreneurs, Aztiq is committed to identifying, investing in, and nurturing ground-breaking healthcare solutions in pharma and biotech to address global healthcare challenges. By leveraging the cumulative experience of the team, Aztiq aims to improve patient outcomes, increase access to quality healthcare, and create a more efficient and sustainable healthcare ecosystem. With a proven track record of success, Aztiq continues to make a lasting impact on the health and well-being of people around the world. For more information, please visit www.aztiq.com and follow Aztiq on LinkedIn.

About Innobic

Innobic (Asia) Company Limited is a wholly-owned subsidiary of PTT, the largest energy company in Thailand majority owned by Ministry of Finance Thailand and listed in Fortune Global 500. PTT has moved from a national energy provider to a multinational conglomerate and started to diversify the business into new sectors, including Life Science, Renewables, Electricity value chain, and Ventures, to serve as its new S-curve. It officially established Innobic in December 2020 for a strategic goal to building up a new footprint in Life Science fields for PTT Group, with an initial focus on pharmaceuticals, and aims to make Innobic become a leading Life Science company in the region to bring best science and enhance life qualify of people. For more information, please visit www.innobicasia.com 

Media Enquiries:

Ming Li
+16465093032
ming.li@aztiq.com

Jaruchai Sutjarittam
+66888924564
Jaruchai.s@innobicasia.com

GlobeNewswire Distribution ID 1000828093

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Zimbabwe: Pres Mnangagwa blames businesses for food shortages

As basic food commodities disappear from supermarket shelves in Zimbabwe in the midst of an inflation crisis, President Emmerson Mnangagwa has threatened businesses, accusing them of creating artificial shortages.

Addressing an election rally of his ruling Zanu-PF party in Bulilima District, Matabeleland South province, Mnangagwa said businesses have increased prices of basic goods since the announcement of general elections.

He also accused some in Harare of stocking up basic commodities in their warehouses.

“We are being attacked currently with rising prices. Why, just when we announced that we are going for general elections, our enemies decided that they must cause problems among our people?

“I have been told that some … in Harare are stocking basic goods in warehouses. Let me warn them, l am having people investigating the warehouses and if it is true, we will confiscate not only the warehouse but the things inside and give it to you and distribute them,” said Mnangagwa.

In May, the government lifted all restrictions on the importation of basic commodities amid skyrocketing prices of bread, flour, cooking oil and mealie meal.

But prices of basic food have continued rising with products like sugar, flour and cooking oil disappearing from shop shelves in the capital.

The rise of prices is mainly attributed to the country’s annual inflation rate which has more than doubled from May to June, to more than 175%.

With a weakening local currency, Zimbabwe is among the countries with the highest food inflation rates, meaning many Zimbabweans struggle to put food on the table

Source: Nam News Network

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Kwabena Agyepong wins 3rd Ghana Chicken Festival contest

Mr Kwabena Adjei Agyepong, a New Patriotic Party flagbearer hopeful at the weekend won the 2023 Ghana Chicken Festival competition and called on the Government to invest more in the poultry sector. He said Ghana had huge potentials in the poultry value chain and that the lack of adequate investment in local production had been its bane, with the country spending $600 million dollars on imports annually. 'We all know that the value chain of this sector can absorb the teeming youth. We spent about $600 million every year, and this is a business opportunity for Ghana,' Mr Agyepong said. He said this at the commemoration of the Ghana Chicken Day and the 2023 Ghana Chicken Festival organised by Agrihouse Foundation and in collaboration with Boris BS Chicken, Ministry of Food Agriculture and Ghana National Egg Campaign Secretariat. Mr Agyepong called on the State to support made in Ghana products to grow the local economy. The capital cost, production cost and feed cost must be greatly reduced for poultry farmers to increase production. We need initiatives to produce high-quality feed locally,' he said. Mr Agyepong called on cold stores and entities in the poultry supply chain to prioritise local poultry products, adding that local poultry was healthier for consumption. He was adjudged the overall best chef in the 2023 Ghana Chicken Festival cooking contest where he prepared stewed plantain with chicken. This year's Ghana Chicken Festival, which took place at the Forecourt of Parliament, was themed: 'The Role of Poultry to Human Health and Economic Drive', with the aim of using leaders of institutions and decision-makers as influencers in promoting the poultry industry. Miss Alberta Nana Akyaa Akosa, Chief Executive Officer, Agrihouse Foundation, said the goal of the yearly event was to drive a strong advocacy to increase consumption of local poultry to grow the economy. 'Importation is on the rise because the industry does not meet demands and so with our advocacy drive, we believe that we can whip up interest in local production and change the mindset in the next three years,' she said. Ms Akyaa Akosa urged policy and decision makers to quickly address the gaps in the sector and requested that July 1 be officially declared as a Ghana Poultry Day. Mr Yaw Frimpong, Deputy Minister, Ministry of Food and Agriculture, said: 'Gov't is bringing out Planting for Food and Jobs chapter two where the focus is on eleven selected crops and poultry. It is a five-year programme and by the third year, Ghana should be self-sufficient in poultry.' 'Everybody who is interested in poultry will be assisted. Soya and maize are the main ingredients for the industry. And we are going to increase their production to push the prices of these crops down so that everyone can become a poultry farmer,' he said.

Source: Ghana News Agency

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Eswatini citizens targeted in robbery on Onhuno-Eenhana road

A 63-year-old man and 50-year-old woman from Eswatini were robbed of cash and various items on the Onhuno-Eenhana road in the Ohangwena Region on Friday.

The Namibian Police Force in a crime report on Sunday said the incident occurred around 11h00. It is alleged that the victims withdrew money from an ATM in Oshikango, and while they were driving to Rundu from Oshikango, three unidentified suspects overtook their vehicle, indicating that the victims’ vehicle had a defect.

“The victims pulled over and got out to inspect the vehicle. The suspects then attacked them and stole their belongings, including cash (N.dollars 6 000 and US.dollars 185), credit cards, and iPhones, the values of which are yet to be determined,” it said.

The suspects fled the scene in a sedan. No arrests have been made, and investigations are ongoing.

In a separate incident reported at Swakopmund, 22-year-old Bockky Amwaalwa’s body was found in Iipumbu ya Shilongo Street in Mondesa around 02h30 on Saturday.

He was stabbed in the left thigh and in his back, resulting in his death. His body was discovered by police officers during routine patrol duties.

No suspect has been identified and the police appealed to the public for information that could lead to the identification of any potential suspects in the case.

In a similar case, 26-year-old Tarakovandu Tjimuhiva was struck and killed by a taxi on Sunday while walking on the side of the road in Otjiwarongo.

According to the police, the 32-year-old taxi driver was subjected to an alcohol test and was allegedly found to be above the legal limit. He was set to appear in the Otjiwarongo Magistrate’s Court on Monday.

The police also reported that a 28-year-old man was arrested after he unlawfully and intentionally killed a springbok on communal land without a permit in the Tses area.

The suspect was expected to appear in the Keetmanshoop Magistrate’s Court on Monday.

In a similar case, a 44-year-old Angolan citizen was found in possession of 20 kilogrammes of dried game meat on a farm near Otjiwarongo on Friday.

The suspect was arrested and was expected to appear in the Otjiwarongo Magistrate’s Court on Monday.

Source: The Namibia Press Agency

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ECN warns of fake recruitment scam circulating on social media

The Electoral Commission of Namibia (ECN) has cautioned that there are fake posts circulating on social media, falsely claiming that the ECN is recruiting staff online.

ECN’s Manager of Corporate Communications and Marketing, De Wet Siluka, confirmed on Monday that there are posts circulating on social media that contain a link to a fake recruitment portal.

The ECN suspects that the fake webpage may be part of an identity theft scam.

“We would like to caution the public about the fake recruitment portal. It is a mere scam. Stay vigilant and avoid becoming a victim,” Siluka said on Monday.

He advised social media users not to click on the link or enter their personal details on the fake application page. Siluka also urged WhatsApp users not to forward the post, as it could potentially harm others who may believe it and provide their personal information to scammers.

He encouraged Namibians to wait for a legitimate statement from the ECN regarding any recruitment vacancies.

Source: The Namibia Press Agency