Synlait Milk Ltd. (AU:SM1) has released an update.
Synlait Milk Ltd. is poised for a significant change as Bright Dairy Holdings Limited seeks to increase its stake to 65.25%, pending approval from a Special Shareholders’ Meeting. Bondholders may face a change of control event, potentially leading to an early redemption opportunity for their SML010 bonds at par value plus accrued interest. Trading of these bonds is expected to be suspended for ten days during the redemption election period, with full maturity of the remaining bonds slated for December 17, 2024.
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