Synlait's Special Shareholders' Meeting Poll Results

Synlait Milk Limited (ASX: $SM1) has announced that the resolution put to shareholders at its Special Shareholders' Meeting today has passed. The resolution was very important to Synlait's future and completed the first step in resetting Synlait's balance sheet.

Executive Commentary on Shareholder Vote

Synlait Chair George Adams expressed gratitude to the shareholders for their support and emphasized the significance of the shareholder loan resolution for Synlait's future. He also mentioned the Board's plans for an equity capital raising, highlighting the enormous growth potential of Synlait's core Advanced Nutrition and Foodservice businesses. Director Julia Zhu from Bright Dairy acknowledged the shareholder vote in support of the Board's turnaround actions and expressed commitment to ensuring Synlait's long-term success for all shareholders and its farmer suppliers.

Summary of Synlait's Future Plans

Synlait has successfully passed the shareholder loan resolution, marking the first step in resetting its balance sheet. The Board is now focused on plans for an equity capital raising to support the growth potential of Synlait's core businesses. The company aims to restrengthen its financial position and ensure a stronger, healthier future. Synlait is committed to delivering long-term success for all shareholders and farmer suppliers, with a focus on the growth potential of its Advanced Nutrition and Foodservice businesses.