Memorandum
To: Market Participants
From: NZX Product Operations
Date: Wednesday, 16 October 2024
Subject: Synlait Milk Limited (“SML010”) – Trading in SML010 to resume at market open
Message:
NZX Operations (“NZXO”) advises that, further to the announcement released by Synlait Milk Limited (“SML”) today, trading will resume in SML010 at market open today. Holders who have elected to redeem bonds early will not be able to place any further trades on the bonds.
SML did not exercise its right to call all remaining SML010 bonds. The final day of trading in all remaining bonds will be Wednesday, 4 December 2024, prior to the bonds being suspended at close of business.
A timetable of events is attached.
Please contact NZX Product Operations on +64 4 496 2853 or [email protected] with any queries.
ENDS
Trading was heavy for a Friday with 38.56 million shares worth $193.38m changing hands.
The CEO says he's never seen a market this volatile since founding the firm.
The next near-term support level is at 57.75 US cents.
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