Completion and Settlement of Sale of Pain Away
Wellnex Life Limited has announced the completion and settlement of the sale of its "Pain Away" business to Mentholatum Australasia Pty Ltd, following shareholder approval. The company will continue its liquid soft gel analgesics and contract manufacturing operations, utilizing the cash proceeds from the transaction to retire debt and support working capital for its ongoing business. Further updates regarding shareholder value will be provided in due course.
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Wellnex Life Limited (ASX/AIM: WNX) ("Wellnex Life" or the "Company") is pleased to announce that, further to the Company's announcement on 6 August 2026 and following the receipt of shareholder approval at the extraordinary general meeting held on 8 September 2026, all of the conditions precedent to the formal binding agreement to sell the Company's "Pain Away" business and assets to Mentholatum Australasia Pty Ltd (the "Transaction") have now been satisfied and the Transaction has now completed with the upfront purchase price settled.
Post completion of Transaction, Wellnex will continue to operate its established liquid soft gel analgesics business, built on the Company's own TGA marketing authorisations. The Company's contract manufacturing business is a capital-light business with growing international reach. The Board will use the cash proceeds from the Transaction to retire debt and to support the working capital requirements for the Company's continuing operations, and will review options that will deliver best values for shareholders. The Company will provide a further update to shareholders in due course.
This ASX/AIM announcement has been authorised by the Board of Wellnex Life Limited (ASX/AIM:WNX).
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.