Synlait founder John Penno picks a fight with his former board

John Penno (right) in happier times with Bright Dairy. (Image: Supplied)

Thu, 29 Aug 2024

John Penno was sitting around the table in Synlait Milk’s boardroom just under four months ago.Now, he’s come out publicly to criticise his former colleagues’ planned vote over a proposed capital raise.The dual-listed, debt-laden dairy processor told the New Zealand Exchange (NZX) on Wednesday morning it had received notice from Penno alleging, under NZ RegCo and the Takeovers Code, Bright Dairy and The a2 Milk Company shouldn’t be able to vote on the resolutions that will raise $217.8 million from the pair.Bright h...

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