What happens with the proceeds? Great question. Before we get to...

What happens with the proceeds? Great question. Before we get to that it will be interesting to see if the sale triggers the ASX Listing rule for shareholder approval. It depends on whether such a “sale” is the absolute transfer of ownership of the IP or whether it could be structured as a license. If the deal is seen as a sale of a substantial undertaking of the company then approval is required. So let’s say it’s approved, then there will be a flow of funds to the company that are dispensed as likely a special dividend, there could be a share buyback or banking some funds for future dividends. The company will use some funds for further product development.
My guess, as stated before, is that PH wants to keep control and license it out.
But anything can happen.