Synlait gets major transaction waiver from NZX as share price plummets

Synlait gets major transaction waiver from NZX as share price plummets
Synlait made the announcement when the NZX was closed for a public holiday. (Image: NZME)
Rebecca Stevenson
Embattled dairy processor Synlait says it had to make a market disclosure in Australia despite the NZ exchange being closed for a public holiday. Synlait told the Australian securities exchange (ASX) on Monday it faced an exodus of farmer suppliers, with a “significant majority” of its 283 suppliers filing two-year notices to quit the struggling company. The company also said it had agreed to borrow $130 million from major shareholder Bright Dairy to cover a looming debt repayment and had sought waivers from its bankers be...

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