4 questions lodged at 2025 Mayne Pharma hybrid scheme meeting
June 20, 2025
Below is the text of the 4 written questions submitted at the 25 minute Mayne Pharma hybrid scheme meeting held in Melbourne and via the Computershare platform on June 18, 2025, plus a summary of the answers and some video grabs via Twitter. See notice of meeting and voting results. Market cap $424m on scheme meeting day. Proxies were disclosed early with these formal addresses and no opposition to Cosette's $7.40 per share takeover offer. There were no questions from the floor.
Q1. We're a Melbourne-based company so why is this scheme being managed through the New South Wales Supreme Court?
Answer: the chair Frank Condella is a man of few words and simply said this was mandated under the SID and it was chosen for reasons of efficiency and speed.
Q2. Has Cosette stopped pursuing FIRB approval as part of its tactics to get out of the deal or is FIRB approval something that Mayne Pharma can pursue without Cosette's involvement? What happens if the court sides with us but then Cosette continues to slow pedal the FIRB process?
Answer: the question wrangler omitted the last sentence and the chair said FIRB approval is still being pursued and Corsette is actively doing that.
Q3. Thank you for disclosing the proxy position early to the ASX along with the formal addresses. It shows there was no material opposition to Cosette's $7.40 per share takeover offer. However, the turnout was pretty poor on the headcount metric with just 862 shareholders registering a proxy vote. The last annual report says we have 10,542 shareholders. Is that accurate in terms of how many shareholders were eligible to vote on the headcount metric and are we disappointed that only 8.17% of shareholders participated? What sort of proxy solicitation campaign did we run?
Answer: Disappointing editing by the question wrangler but the chair said the 10,542 number is accurate and head count participation is up from the last AGM. No detail was provided on the scope and scale of any voter participation campaign.
Q4. Will a full archive of the scheme meeting webcast be made available on our website whilst the current directors remain in control of the company?
Not asked, so emailed request for EGM webcast archive on June 20.
There was one other online question about cashflow which was rejected for not being relevant.
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