Mayne Pharma (MYX AU): The Vote Gets Up. Now What?

• I have no clue. Given this is unchartered territory, in Australia, I don't believe anyone has a perfect handle on the situation

• What do we know? The Second Court meeting has been pushed out to the 18th September from 20th June initially, to "enable the dispute with Cosette".

• This date may be further delayed as a court hearing will commence on the 9th September to hear the validity of Cosette's termination notice.

The NEW News

• At today's Scheme Meeting, 99.06% of shareholders present and via proxy approved the Scheme Resolution.

  • No surprises there.

  • You kinda wonder who voted against.

• Prior to the Scheme vote, the chairman, Frank Condella, gave a presentation. Key takeaways, as it relates to Cosette, were:

  • FIRB approval has not yet been obtained, however Cosette has agreed with Mayne Pharma to continue to progress the FIRB approval.

  • Cosette has served a cross-claim on Mayne, alleging Mayne has engaged in misleading or deceptive conduct in breach of the Australian Consumer Law, as announced by Mayne on the 16 June 2025. Mayne disputes these allegations and intends to defend them.

  • The Scheme is subject to the Court determining whether Cosette’s purported termination of the Scheme Implementation Deed is valid. The Second Court Date has been listed for 18 September 2025.