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)

Tue, 04 Jun 2024

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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