Synlait Milk Ltd. (AU:SM1) has released an update.
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In a significant shift, Bright Dairy Holding Limited has increased its stake in Synlait Milk Ltd to 65.252%, up from 39.119%, by acquiring an additional 308,333,333 shares at $0.60 each, following a special shareholder meeting approval. The shares are subject to a 12-month escrow period, during which Bright Dairy has limited rights to sell or transfer the shares, with some exceptions such as takeovers or transfers to related companies.
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