Mayne Pharma Group Limited (ASX:MYX)

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Announcement

Mayne Pharma terminates Scheme Implementation Deed

Release

11 Dec 2025 9:40AM

Price at Release

$3.220

Full Release

Summary

Mayne Pharma Group Limited has announced the termination of the Scheme Implementation Deed (SID) with Cosette, citing material breaches by Cosette. The termination follows a five-day period where the breaches were not rectified. Despite the Foreign Investment Review Board (FIRB) condition not being satisfied, the SID did not automatically end, requiring Mayne Pharma to execute the termination. The termination releases Mayne Pharma from restrictions under the SID and eliminates any obligation to pay a break fee. Mayne Pharma accuses Cosette of willful breaches and intends to enforce a cost order against Cosette, reserving all rights for further action.

Key Points

Termination of Scheme Implementation Deed with Cosette by Mayne Pharma.
Material breaches by Cosette led to the termination.
Five-day period without rectification of breaches prompted action.
FIRB condition was not satisfied but did not automatically end the SID.
Mayne Pharma freed from SID restrictions and not liable for break fee.
Mayne Pharma accuses Cosette of intentional breaches.
Intention to enforce costs order and reserve rights for further actions.

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.