Brief: Synlait Milk Agrees Recapitalisation, Including Aggregate New Equity Of NZ$217.8 Mln

Synlait Milk

20/08/2024 08:10

Aug 20 (Reuters) - Synlait Milk Ltd  SML.NZ :
    * AGREED TERMS OF A RECAPITALISATION, INCLUDING AGGREGATE
NEW
EQUITY OF NZ$217.8 MILLION
    * IN FINAL STAGES OF A REFINANCING OF ITS BANK FACILITIES.
    * BRIGHT DAIRY HAS CONFIRMED THAT IT INTENDS TO VOTE IN
FAVOUR OF
RESOLUTION
    * INDEPENDENT DIRECTORS UNANIMOUSLY RECOMMEND SHAREHOLDERS
VOTE IN
FAVOUR OF ORDINARY RESOLUTIONS
    * REMAINS UNABLE TO PROVIDE AN UPDATE ON ITS EXPECTED FY24
RESULTS
AT THIS TIME
    * REMAINS ON TRACK TO MEET ITS MINIMUM ADJUSTED EBITDA FOR
FY24
FOR BANK COVENANT PURPOSES.

Further company coverage:  SML.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))