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)

Wed, 21 Aug 2024

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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