Special Shareholders’ Meeting – The a2 Milk Company voting

Synlait Milk Limited’s (Synlait) Special Shareholders’ Meeting is to be held at 2.00pm this Thursday 11 July 2024.

The meeting is to vote on the resolution to approve the proposed entry into a $130 million shareholder loan to be made available to Synlait by Bright Dairy International Investment Limited, a related company of Bright Dairy Holding Limited, Synlait’s 39.01% shareholder. If the resolution is approved, Synlait will fully draw down the loan to meet the $130 million payment due to its banks on 15 July 2024.

As communicated in the Notice of Meeting dated 25 July 2024, Synlait committed to updating shareholders on The a2 Milk Company Limited's voting intention.

Synlait and The a2 Milk Company Limited have continued to engage in discussions. However, The a2 Milk Company Limited has not advised Synlait how it will vote on the resolution.

Synlait Chair George Adams commented: “The shareholder loan resolution is very important to Synlait’s future, and we encourage all our shareholders, no matter the size, to have your say and vote on this important matter. It is particularly important that everyone cast their vote as the future of the company is at stake and failure to approve the loan will mean the Board have limited options available to them.”

The Independent Directors of Synlait have unanimously recommended that shareholders vote in favour of the resolution. Bright Dairy cannot vote in favour of the resolution; as such, the Directors appointed by Bright Dairy have abstained from making a recommendation.

The deadline for returning proxy votes is 2.00pm tomorrow (Tuesday 9 July 2024). Shareholders wishing to lodge a proxy vote are strongly encouraged to do so online at: www.investorvote.co.nz

Shareholders should carefully read the Notice of Meeting and the independent appraisal report from Northington Partners. These are available here.

For more information contact:

Media
Allan Swann
Corporate Communications Manager
P: +64 27 211 4874
E: [email protected]

Investors
Hannah Lynch
Head of Strategy & Corporate Affairs
P: +64 21 252 8990
E: [email protected]

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Announcement PDF