Leaving retail investors out of Synlait's capital raise was 'logical and reasonable' for everyone, chair says

Leaving retail investors out of Synlait's capital raise was 'logical and reasonable' for everyone, chair says
George Adams says he understands there may be some surprise at the move. (Image: Supplied)
Riley Kennedy
Synlait’s chair, George Adams, says the board is well aware retail investors in the cash-strapped dairy processor may feel disappointed to be left out of its capital raise.However, he says the company ultimately settled on a solution that was in the best interests of all of its stakeholders. After the New Zealand Exchange (NZX) closed on Tuesday, Synlait announced its anticipated capital raise. If approved at a special meeting next month, this will mean Bright Dairy increases its stake to just over 65% after contributing $185 million...

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