Synlait Milk Shareholders Pass Resolutions to Issue Bright Dairy, a2 Milk Shares Worth NZ$217.8 Million

MT Newswires Live

2024/09/18

Synlait Milk (ASX:SM1, NZE:SML) shareholders approved three resolutions at a Wednesday meeting, allowing a debt reduction via the issue of around NZ$217.8 million in new equity to the company's two largest shareholders Bright Dairy Holding and a2 Milk (NZE:ATM, ASX:A2M), according to a Wednesday filing with the Australian bourse.

The equity raise is conditional on the refinancing of Synlait's bank facilities and other conditions precedent, with the dairy producer signing documentation on Monday, the filing stated.

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