Jacobson Pharma declares conditional special interim dividend by distribution

It is conditional on the public offer becoming unconditional in all respects.

Generic drug company Jacobson Pharma has announced the declaration of a conditional special interim dividend by way of a distribution in specie of an aggregate of 241,777,625 JBM shares to the qualifying shareholders, the company announced.

The issued shares will represent 27.1% of the total JBM shares upon completion of its proposed spin-off.

As of 15 January, the total number of issued shares is 1,934,221,000. The qualifying shareholders will receive one JBM share for every eight shares held on the record date of 29 January, assuming there is no change in the total number of shares.

"The distribution is conditional on the public offer becoming unconditional in all respects. If such condition is not satisfied, the proposed spin-off will not take place and the distribution will not be made," the company said.