Time to eat the 'dead rat': Synlait shareholders vote on $217m dilutive cash injection

Shareholders are gathering at Synlait's Dunsandel site to vote on a proposed $217 million capital raise.In a presentation to shareholders published on the New Zealand Exchange (NZX), Synlait chair George Adams said the dairy manufacturer’s debt levels were unsustainable.He said there were no other proposals on the table.If the resolutions did not pass Synlait would likely need to cease trading and initiate a formal insolvency process, unless it were to become clear that further support would be forthcoming from its banks, Adams said.T...