Synlait Milk Ltd. (AU:SM1) has released an update.
Synlait Milk Ltd. has successfully passed resolutions during a special shareholders’ meeting, securing a significant equity capital raise of $217.8 million through shares issuance to its major shareholders, Bright Dairy and The a2 Milk Company. The fundraising initiative is part of a comprehensive strategy to reduce debt, closely tied to Synlait’s bank facilities refinancing and a settlement with The a2 Milk Company. Shareholders also approved amendments to the company’s constitution, with the completion of these financial maneuvers expected by October 1, 2024.
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