Mayne Pharma delays acquisition hearing amid FIRB extension

Mayne Pharma Group Limited announced a delay in its proposed acquisition by Cosette Pharmaceuticals, Inc., via a scheme of arrangement. The Foreign Investment Review Board (FIRB) unilaterally extended the statutory deadline for its approval to Friday, 21 November 2025. Consequently, Mayne Pharma has rescheduled the Second Court Hearing to approve the Scheme to Sunday, 23 November 2025, at 3:00 pm AEDT.

The updated indicative timetable outlines key dates, with the Effective Date now set for Monday, 24 November 2025, when Mayne Pharma shares will be suspended from trading on the ASX. The Scheme Record Date for determining entitlements to the Scheme consideration is Wednesday, 26 November 2025, at 7:00 pm AEDT. The Scheme Implementation Date, when all shareholders will receive their consideration, is Thursday, 4 December 2025.

Mayne Pharma stated that the Scheme remains subject to FIRB approval, Court approval, and other conditions detailed in the Scheme Booklet. The company will continue to inform the market of any changes to this indicative timetable.