Market Alert: Strong Nuclear Tensions in South Asia Assessing the Fallout on Global Equity Markets
Today, Synlait Milk Limited (NZX: SML) announced the successful passage of a resolution at its Special Shareholders' Meeting. The resolution in question, described in the Notice of Meeting dated 25 June 2024, sought approval for a significant shareholder loan under NZX Listing Rules 5.1.1(b) and 5.2.1. Shareholders overwhelmingly supported the resolution, with 99.59% (104,788,057 votes) in favor, 0.41% (429,962 votes) against, and 0% (4,202 votes) abstaining. This represented a total of 105,218,019 votes, accounting for 48.14% of the total issued capital.
Synlait Chair George Adams expressed gratitude to shareholders for their support, emphasizing the resolution's pivotal role in shaping Synlait's future financial stability. Adams remarked, "The shareholder loan resolution was very important to Synlait’s future and completed the first step in resetting Synlait’s balance sheet."
Looking ahead, Adams indicated that the Board is actively advancing plans for an equity capital raising initiative. He added, "Synlait’s core Advanced Nutrition and Foodservice businesses have enormous growth potential, and we are committed to delivering on that for your benefit."
Julia Zhu, speaking on behalf of Bright Dairy Appointed Directors, acknowledged the shareholder vote and affirmed Bright Dairy's steadfast commitment to Synlait's long-term success. "Bright Dairy acknowledges today’s shareholder vote in support of the Board’s turnaround actions underway to restrengthen Synlait’s financial position," Zhu stated. "There is a stronger, healthier future for the business coming, and Bright Dairy is deeply committed to ensuring Synlait’s success for all shareholders and its farmer suppliers."
The approval of the shareholder loan marks a significant milestone for Synlait as it seeks to stabilize its financial footing and capitalize on growth opportunities in its core sectors. Shareholders can expect ongoing updates from the Board as Synlait progresses with its strategic objectives.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com
Apr 24, 2025
Apr 24, 2025
Apr 23, 2025
Apr 23, 2025
Apr 22, 2025
Apr 22, 2025
Apr 17, 2025
Apr 17, 2025
Apr 16, 2025
Apr 16, 2025
The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
