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

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The Senate is to resume sitting on Tuesday after the Eid-el-Kabir holiday.

The News Agency of Nigeria (NAN) reports that as the upper chamber resumes, majority and minority leaders are expected to emerge.

The All Progressives Congress (APC), with the largest number of members, is expected to produce the majority leader, while the opposition Peoples Democratic Party (PDP) will produce the minority leader.

NAN reports that while APC has 59 senators; PDP has 36; Labour Party (LP) eight; Social Democratic Party (SDP) two; New Nigeria Peoples Party (NNPP) two; Young Peoples Party (YPP) one and All Progressives Grand Alliance (APGA) one.

This shows that seven political parties make up the membership of the 10th Senate, with 50 as opposition members.

The ruling APC and the minority caucus are also expected to fill the vacant eight principal positions.

While APC is expected to produce the majority leader, deputy majority leader, chief whip and deputy chief whip, the four principal positions reserved for the minority caucus are minority leader, deputy minority leader, minority whip and deputy minority whip.

PDP, being the major opposition party, is expected to produce the minority leader, deputy leader, minority whip and deputy minority whip.

Nominations for the positions are purely the affairs of political parties with the majority of seats in the senate.

Findings by NAN show that the major contenders for the senate majority leader’s seat include: Sen. Opeyemi Bamidele (APC-Ekiti) and Sen. Mohammed Ndume (APC-Borno).

The duo were among the arrowheads of Senate President Godswill Akpabio’s campaign for the senate presidency.

Ndume served as the Director-General of Akpabio’s campaign committee, while Bamidele was the deputy.

Also, Sen. Adamu Aliero (PDP-Kebbi) and Sen. Aminu Tambuwal (PDP-Sokoto) are contenders for the minority leader seat.

Source: News Agency of Nigeria

Henry Njalla Quan says Eto’o cannot play role of disciplinarian “now”

The fourth vice president of FECAFOOT, Henry Njalla Quan II, has said Eto’o should have nothing to say when it comes to discipline.

Henry Njalla Quan II has told Samuel Eto’o that his history of indiscipline towards Cameroonians and the national team makes him unfit to play the role of disciplinarian.

The owner of the South West regional football club Njalla Quan Sports Academy is under suspension for violating Article 42 on allegations he has made against the Cameroon Football Federation and its president Samuel Eto’o.

Njalla Quan Jr. began voicing out his frustrations on June 20, 2023 but intensified after his club allegedly faced a match-fixing scandal in Limbe on June 28.

His revelations have been shocking, pushing the federation to take disciplinary measures against him in the form of a temporary suspension.

In a Facebook post, Henry Njalla Quan said it is an irony to have Eto’o trying to discipline him.

“This same man who disgraced the entire ‘Cameroonian continent’, humiliating the Head of State and over 20 million Cameroonians in the process by refusing to collect the national flag during the traditional flag handing over ceremony…ahead of the FIFA World Cup Brazil 2014, notoriously disrespected the then president of the FA, Iya Mohamed on numerous occasions as captain of the Indomitable Lions and other acts of indiscipline, suddenly becomes a disciplinarian” the Njalla Quan club president expressed dismay.

He said he regrets betraying former FECAFOOT president Seidou Mbombo Njoya to support Samuel Eto’o. He added that the ex-footballer has failed to meet the objective of unifying Cameroon football.

“Mr. President, there is just little time left to start making things right” Henry Njalla Quan said. “I strongly advise you dissociate yourself from…dubious collaborators if you truly have intentions of making Cameroon football great again.”

The FECAFOOT executive committee member raised questions about the 300 million FCFA subvention promised to amateur clubs in August 2022, irregularities with the One All Sports sponsorship deal, and other contracts whose details are reportedly being concealed.

Njalla Quan Jr. said the current poor leadership at the level of the national team as well, has chased big players like Andre Onana and may lead to the Indomitable Lions’ failure to qualify for the 2023 AFCON in Cote d’Ivoire.

Source: Cameroon News Agency

Agenda for new security chiefs

One of the greatest challenges the administration of President Bola Tinubu faces is in the area of insecurity.

And the burden of tackling Tinubu’s inherited security challenge is not made lighter by Chapter II of the 1999 Constitution – Fundamental Objectives and Directive Principles of State Policy.

Section 14 (1) (b) states that “the security and welfare of the people shall be the primary purpose of government”.

Unfortunately, the task of providing security for the citizenry by the new administration is both complex and enormous.

This is against the background of the decade-long insurgency in the Northeast, kidnapping for ransom and other security concerns in various parts of the country.

Although some level of sanity has been restored in the Northeast, security experts say it is not yet Uhuru.

In the Southeast the secturity situation does not help matters because it has been compromised by Biafra Republic agitators, even as alleged politically motivated attacks remain on the increase.

This is why the recent appointment of new security chiefs was greeted with cautious enthusiasm by a large section of Nigerians.

On June 19, the president announced Mallam Nuhu Ribadu as the new National Security Adviser (NSA) and Maj.-Gen. C.G Musa Chief of Defence Staff (CDS).

He also appointed Maj.-Gen. T. A Lagbaja as the new Chief of Army Staff (COAS), while Rear Admiral E.A. Ogalla now serves as the Chief of Naval Staff (CNS).

AVM H.B Abubakar was appointed Chief of Air Staff (CAS) and Mr Kayode Egbetokun replaced Usman Baba as Acting Inspector-General of Police. Maj.-Gen. EPA Undiandeye was also appointed as the new Chief of Defense Intelligence.

During his inauguration Tinubu had hinted at reforming Nigeria’s security doctrine and its architecture.

He also promised to “defend the nation from terror and all forms of criminality that threaten its peace and stability.

The new Chief of Defence Staff, Musa, is already talking tough.

“Nobody should doubt our determination to bring peace to Nigeria. Anybody, especially the criminals, bandits, terrorists, anyone who thinks otherwise, should be ready to face the music,” Musa said at the Defence Headquarters, Abuja as he officially took over from Lucky Irabor,

The acting police chief, Egbetokun is also spitting fire.

“But if I have to tell you anything, I will tell you that right now I feel like a tiger inside of me ready to chase away all the criminals in Nigeria.

“And, some other time, I fell like a lion in me ready to devour all the internal enemies of Nigeria. That’s my feeling right now”. Egbetokun said on assumption of office.

Although his language may sound hyperbolic, it is, nonetheless, reflection of his desire to perform in office.

Some security experts say the speed with which the president appointed new security helmsmen is indicative of his desire to breathe fresh impetus into Nigeria’s security system.

Mr Usman Mohammed, a security consultant, said positive body language early in the life of an administration has a ripple effect on performance and outcome.

“Remember that the last time service chiefs were quickly replaced was in 1999 during Obasanjo’s administration. We were just coming from military rule, so he wanted to purge the military hierarchy.

“Subsequent administrations took their time before replacing service chiefs but President Tinubu has proved to be an exception,” he said.

Under the new security chiefs, stakeholders say Nigerians want to see the return of age-old best practices, ethical rebirth and reorientation of security personnel in the discharge of their duties.

Ribadu, the new NSA, during his assumption of office promised that insecurity would be subdued by the administration of Tinubu.

“We will stabilise this country, we will secure our country, and we will make Nigeria peaceful because we believe the time has come for this country to enjoy peace, restore order, and uphold the rule of law just like any other country in the world,” he said.

Experts say one way to improve national security is by upping the ante of intelligence gathering.

“In today’s world, intelligence is a key instrument in political domination and warfare.

“In tandem with the importance attached to intelligence, various gadgets, devices and tools have been invented to cope with the various security challenges of the modern world.

“Intelligence is now a highly technical field where only the best of the security agencies operates. Covert gathering of information for use in neutralizing perceived threats is now highly scientific.

“Nations are secure only to the extent that they are on top of possible threats through the gathering of reliable, non-intrusive intelligence,” said Jaiye Akinyemi, a security consultant, said.

Experts also identify synergy and collaboration as crucial to whatever the new security chiefs intend to achieve under Tinubu.

In 2021, immediate-past IG-P, Usman Baba, said unhealthy inter-agency rivalry had been a major issue that limits the capacity to effectively achieve internal security.

Former NSA retired Maj.-Gen. Babagana Monguno acknowledged the same and made it one of his cardinal objectives to ensure that the security and intelligence community work together.

As the first NSA with no military background since 1999, Ribadu faces the unique challenge of coordinating national security and making the various security and intelligence agencies work together.

He has to deliver on it.

There is also a need to train and re-train personnel in the Police, State Security Service, Military Intelligence and the Nigeria Intelligence Agency, as well as other paramilitary organisations, including the Civil Defence Corps.

Stakeholders counsel that a proactive, well-equipped, and well-trained security personnel is a desideratum for accomplishing the task ahead.

There also has to be respect for the rule of law and citizens’ rights in the discharge of duties.

It is gratifying that the new police boss issued a directive ordering all police convoys to henceforth, as a matter of compulsion, obey all traffic regulations.

“Let me end this speech by reminding you that those who keep the peace must be the epitome of peace.

“Those whose duty is to enforce the laws of the land must respect and obey the laws of the land.

“Without obeying the laws, the Police lack the moral high ground to interrogate and bring lawbreakers to book,” Egbetokun said at a meeting with Mobile Police Squadron and Commanders at the Force headquarters, Abuja.

From previous experience, many Nigerians have received this statement with a pinch of salt to mean a mere symbolic gesture common when a new security boss takes charge.

The new security chiefs are therefore expected to walk the talk.

Source: News Agency of Nigeria

Witness’s absence stalls opening of INEC’s case

The absence of a witness on Monday, stalled the Independent National Electoral Commission (INEC) from opening its case in the petition filed by the Presidential candidate of the Labour Party (LP), Mr Peter Obi and his party.

LP and Obi are challeging the election of President Bola Ahmed Tinubu of the All Progressives Congress (APC).

The Presidential Election Petition Court (PEPC) sitting at the Court of Appeal in Abuja had, last week adjourned till Monday for the electoral body, which is the first respondent in the petition to open its defence of the Feb. 25 presidential election, which it conducted.

When the petition was called, lead counsel to the INEC, Abubakar Mahmoud, SAN, told the court that the first defendant has three days to defend the outcome of the Feb. 25 presidential election.

He informed the court that the electoral body has three witnesses to present in its case and regretted that the witness slated to give evidence on Monday was not in court and asked for an adjournment until Tuesday for INEC to open its case.

Other respondents are Vice President Kashim Shettima and the APC.

He asked for an adjournment for INEC to open its case in the joint petition by Obi and his party against Tinubu’s election.

The request for adjournment was not opposed by the petitioners and President Tinubu, Shettima, and the APC.

Consequently, the five-member panel of Justices of the court, led by Justice Haruna Tsammani adjourned further proceedings in the petition until Tuesday.

The petitioners’ counsel Livy Uzoukwu, SAN, expressed sadness, however, did not object to INEC ‘s application for adjournment.

Other respondents counsel, Wole Olanipakun, SAN for Tinubu and Shettima and Lateef Fagbemi, SAN, for APC also did not object.

The five-member panel presided over by Justice Haruna Tsammani adjourned until tomorrow for the INEC to open their case.

Source: News Agency of Nigeria

Halt candidates’ manipulation of results – VC urges JAMB

The Vice Chancellor, Salem University Lokoja, Prof. Alewo Johnson-Akubo, has urged the Joint Admission and Matriculation Board (JAMB) to urgently checkmate candidates’ manipulation of results.

The vice chancellor, who made the call in an interview with the News Agency of Nigeria (NAN) in Lokoja on Monday, said that suppressing such would save the education standard from dwindling.

Recall that JAMB, in a statement on Sunday said it had withdrawn the result of a candidate of the just-released Unified Tertiary Matriculation Examination (UTME) result over alleged manipulation of her scores.

The board had claimed that one Miss Mmesoma Ejikeme, inflated her result and announced that she scored 362 in the 2023 UTME.

She was awarded a three N3 million naira scholarship by Chief Innocent Chukwuma, Chairman, Innoson Vehicles Manufacturing company and was about to be honoured by the Anambra Government before she was exposed.

According to Johnson-Akubo, this development is not good for the image of JAMB and Nigeria as a nation.

He said that the board should rise to the occasion and nip the evil in the bud before it affected the educational standard.

“Certainly, this is a cankerworm that must not be allowed to dwindle our educational standard nor give Nigeria a bad image before the international community.

“It also means that our universities should equally ensure they do thorough investigation into the status of all candidates admitted for programmes to deprive such manipulators from having their ways.

“For us in Salem University Lokoja, JAMB discovery is a blessing to us; more so that we just ended our 2022/2023 academic session with a thanksgiving on Sunday, and has commenced admission into programmes for the 2023/2024 session,’’ he said.

Johnson-Akubo, however, said that beginning from July 3, applications into the university’s fully accredited programmes such as Law, Accounting, Mass Communication, Geology and Computer Science would be welcome.”

He advised interested candidates to inculcate the fear of God and truthfulness as they applied for any of the institution’s programmes to avoid issues with the management.

Source: News Agency of Nigeria

Major general warns Atanga Nji to stay off Church activities

A major general, identified as Esaïe Ngambou, sent the firm warning while on the pulpit Sunday, July 3, 2023, in a local Church, in Yaounde.

“I read with keen attention the communique of the Minister of Territorial Administration and I want you to inform him that where a General has written his name, he, the Minister has nothing to do there. Talk less of calling me, a lawless individual,” he warned.

In a correspondence dated June 8, 2023, Minister Paul Atanja Nji cautioned the dissidents of the Evangelical Church of Cameroon, to be careful in their attempts to create a new Church.

The Minister said the law recognizes only the Evangelical Church of Cameroon, EEC, and not the Decentralised Evangelical Church of Cameroon, whose founders were seeking authorization to operate. “A General appointed before him and maybe he will leave before him. I have been General all my life. You are here to protect us, we do not want war in this country…I wanted to let you know that I am not happy with the treatment. I have never been treated like this before…I will see him soon,”

The Minister’s response to the request for authorization also stated that such demands are only granted by President Paul Biya.

He also reminded the applicants that the EEC had resolved its internal conflict in December 2021 and elected a unified leader, hence, the DEEC is dead upon arrival.

The Major General concluded by adding that, Paul Atanga Nji might leave office before him because a General remains, one for life.

Source: Cameroon News Agency

North West Regional League: VAR use causing controversy

The use of the Video Assistant Refereeing system, VAR, in the North West Regional League has sparked a lot of talks both offline and online.

On Sunday July 2, 2023, officials and organizers of the North West Regional League used the VAR during the semifinal matches at the Bamenda university field in Bambili. During the second match between Bafmeng United and Tubah United, the central referee consulted the VAR twice before taking his decisions.

While many have applauded the initiative as a good start, others have questioned this new decision taken by the North West chapter of the Cameroon Football Federation, FECAFOOT, and members of the organizing committee of the league.

The Video Assistant Referee protocol (principle 1) states that “the use of video assistant referees is only permitted where the match/competition organiser has fulfilled all the Implementation Assistance and Approval Programme (IAAP) requirements as set out in FIFA’s IAAP documents, and has received written permission from FIFA”.

However, according to FECAFOOT North West president, Mbigha Felix, VAR was brought in to make the work of the referees more transparent.

“We brought this system of the VAR because we really wanted the referees to focus so that everybody should see. We paid for it very dearly and I think it has come to satisfy the population,” Mbigha Felix explained.

Mbigha went ahead to add that FECAFOOT President, Samuel Eto’o was informed of the development and is impressed with the results.

“The national President was so impressed about what we are doing in the region and he has promised to see that we improve on it.”

Many have called on the officials to step up during the next matches. Others have said the initiative must continue until the end of the tournament so that other teams do not to feel discriminated against

Source: Cameroon News Agency