Synlait Milk Ltd. (AU:SM1) has released an update.
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Synlait Milk Ltd. has significantly expanded its capital by issuing a combined total of 384,616,437 new ordinary shares to Bright Dairy Holding Limited and Citicorp Nominees Pty Limited, a nominee for The a2 Milk Company, at $0.60 and $0.43 respectively. This strategic placement, which amounts to a 175.96% increase in the company’s total shares, has been fully paid in cash and is subject to a 12-month escrow period. The shares were issued following shareholder approval and align with NZX Listing Rules.
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