Apiam Animal Health (ASX:AHX) directors determined to pay a fully franked special dividend of AU$0.10 per Apiam share, conditional on a scheme of arrangement for the proposed acquisition of the firm by entities controlled by Adamantem Capital Fund II, becoming effective, according to a Thursday Australian bourse filing.

The dividend is proposed to be paid on Feb. 16 to shareholders of record as of Feb. 13. Apiam shareholders who can utilise franking credits may be entitled to receive additional benefits from franking credits of up to around AU$0.04 per share, per the filing.

The scheme remains subject to Court approval at the Second Court Hearing, and certain other precedent conditions.

Adamantem Capital Fund II is managed and advised by Adamantem Capital Management.