Mayne Pharma Group Limited has announced a revision to the timetable of its capital management initiatives, which includes a fully franked special dividend of $47.3 million and a pro-rata capital return of up to $65.5 million.
This is due to the completion of the company's exclusive license agreement with TherapeuticsMD, Inc., discussions with parties to secure renewed financing arrangements, and the potential divestment of the Company’s US retail generics business.
The special dividend will proceed as planned, and the share consolidation will take effect immediately after the record date.
The Board will provide a further update on the capital return in late February or early March.