Synlait retail shareholders consider liquidation rather than loan and capital raise

Synlait retail shareholders consider liquidation rather than loan and capital raise
Synlait's prized Dunsandel plant will be the venue for its make-or-break shareholder vote. (Image: Synlait)
Rebecca Stevenson
Some retail shareholders in listed dairy manufacturer Synlait are considering voting against a $130 million bailout loan as the next step to save the embattled company would leave them worse off.Synlait faces a do-or-die vote on Thursday to approve a lifeline loan from a company related to its largest shareholder Bright Dairy. Bright is excluded from the vote, and Synlait chair George Adams has urged retail investors to approve the deal.Adams said 42% of the votes needed to pass the loan were in the hands of minority shareholders.Synlait&#...

More Primary Sector

Alliance Group on path back to profit
Primary Sector

Alliance Group on path back to profit

It now needs north of $200 million of capital to restore its balance sheet.

Riley Kennedy 23 Apr 2025
Potential Mainland buyers may soon tap regulators
Primary Sector

Potential Mainland buyers may soon tap regulators

Fonterra's divestment process is gaining traction.

Riley Kennedy 17 Apr 2025
TTR files fast-track application to mine Taranaki sand
Primary Sector

TTR files fast-track application to mine Taranaki sand

Seabed mining firm Trans-Tasman Resources has lodged its application to fast-track its project to harvest iron sands off the coast of Taranaki. The firm's parent company, Manuka Resources, told the Australian Securities Exchange (NZX) on Wednesday that the application was lod...

Staff reporters 16 Apr 2025