John Penno lobs in complaint over Synlait's capital raise plans

(Image: NZME)

Wed, 28 Aug 2024

Synlait founder John Penno has lobbed in a notice of complaint over the cash-strapped processor’s capital raise.Penno’s complaint, which Synlait told the market on Wednesday it had received, alleges under NZX rules and the Takeover Code, Bright Dairy and The a2 Milk Company should not be able to vote on resolutions relating to the capitalisation.Penno currently holds a 2.3% stake in Synlait, having been its chief executive, chair and a director.He left the company’s board in May.Last week, Synlait announced it would raise $217...

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