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Mayne Pharma Group Limited (ASX:MYX)

ALERT: Price-sensitive ASX Announcement for MYX
Current share price for MYX : $2.760 -2.9 (-51.24%)+
Announcement
Release
16 Oct 2025 9:25AM
Price at Release
$5.660
Full Release
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Summary
Mayne Pharma Group Limited announced that the Supreme Court of New South Wales ruled in their favor against Cosette Pharmaceuticals' attempt to terminate the Scheme Implementation Deed for Mayne Pharma's acquisition by Cosette. With this legal hurdle overcome, Mayne Pharma is moving forward with the scheme of arrangement, pending certain conditions such as FIRB approval and a second hearing by the Supreme Court. The scheme is expected to become effective on 23 October 2025, with Mayne Pharma shares to be suspended from the ASX thereafter. Shareholders are to receive $7.40 per share, with the distribution anticipated around 3 November 2025.
Key Points
  • Mayne Pharma won a court case against Cosette regarding the Scheme Implementation Deed.
  • The Scheme is subject to FIRB approval and Supreme Court approval.
  • Mayne Pharma plans to suspend its shares from ASX trading on 23 October 2025.
  • The Scheme Record Date is set for 27 October 2025.
  • Shareholders will receive $7.40 per share as part of the scheme consideration.
  • The final implementation of the Scheme is expected on 3 November 2025.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.