Mayne Pharma Group Ltd. · ASX:MYX
Mayne Pharma — Mayne Group — Shareholder Meeting (November 2005)
10 slides from Mayne Pharma's shareholder meeting presentation, Nov 16, 2005
Slide 1: General meetings to vote on the demerger of Mayne Pharma Limited
Mayne Group Limited General meetings to vote on the demerger of Mayne Pharma Limited 16 November 2005 These slides should be read in conjunction with the speech separately lodged on the ASX and the demerger explanatory statement
Slide 2: The structure
The structure Mayne Group Limited Mayne Pharma (ASX: MYP) Symbion Health (ASX: SYB) Diagnostic Consumer Pharmacy Products Services Global injectable Pathology Wholesale generic and Nutriceuticals Diagnostic distribution specialty pharmaceuticals Imaging Retail Medical OTC products management Centres
Slide 3: Agenda
Agenda • Address by Peter Willcox, Chairman • General Meeting Resolutions – Capital Reduction – Change name of Mayne Group Limited to Symbion Health Limited • Scheme Meeting Resolution – Approval of Scheme of Arrangement to effect the Demerger
Slide 4: Share price movement since July 2003
Share price movement since July 2003 $6.00 $5.50 $5.00 $4.50 $4.00 $3.50 $3.00 $2.50 $2.00 Jul-03 Oct-03 Jan-04 Apr-04 Jul-04 Oct-04 Jan-05 Apr-05 Jul-05 Oct-05
Slide 5: Advantages
Advantages • Creation of two companies focused on their core competencies – Specialist CEOs, separate management teams and boards of directors – Opportunity for better alignment of incentive and compensation arrangements • Better positioned for growth – More attractive acquisition currency for Mayne
Slide 6: Disadvantages
Disadvantages • Mayne Pharma will no longer have the financial support of Mayne • Additional costs – One-off transaction costs – Ongoing corporate costs • Reduction in size and diversification 6
Slide 7: Independent expert's report
Independent expert’s report • "Shareholders are likely to be materially better off if the Demerger proceeds than if it does not" • "the Demerger is in Mayne shareholders' best interests." 7
Slide 8: Share price movement since April 2005
Share price movement since April 2005 63% increase $6.00 $5.50 $5.00 10 October 2005: Mayne 4 May 2005: Mayne releases Explanatory announces it is Statement $4.50 assessing the merits of a demerger $4.00 17 June 2005: Mayne announces Board has decided to proceed $3.50 with a demerger $3.00 Apr-05 Ma
Slide 9: Timetable
Timetable Key event Date • Court hearing for approval of the Scheme • Effective date and name change from Mayne to Symbion Health • Last day Mayne shares trade on ASX on a cum-entitlement basis Friday 18 November 2005 • Symbion Health shares commence trading on ASX ex- entitlement to Mayne Pharma sh
Slide 10: Mayne Group Limited
Mayne Group Limited General meetings to vote on the demerger of Mayne Pharma Limited 16 November 2005