SYNLAIT MILK LIMITED ANNOUNCEMENT
NZX: SML ASX: SMl
25 NOVEMBER 2016
SYNLA IT MILK COMME NCES TR A DING ON A SXSynlait Milk (NZX: SML; ASX: SM1) has duaI listed on the Australian Securities Exchange (ASX) and willcommence trading today.
Synlait is a leading New Zealand manufacturer of nutritional solutions, value added products and specialty ingredients. Operating as a business to business (B2B) company, Synlait builds strong relationships with leading- customers around the globe to create valuable partnerships for the long term.
Synlait also has one of the largest integrated infant formula sites in the world, offering our customers complete supply chain integrity from behind the farm gate to consumer.
"Interest in Synlait from Australian investors has grown in the past few years - 72% of our institutional shareholding is based in Australia, " said John Penna, Managing Director and CEO.
"Being dual listed on the NZX and ASX increases access for institutional investors in Australia, and opens up the company to Australian retail investors too," he added.
Synlait expects this duaI listing will provide increased liquidity, aswell as a broader and diversified shareholder base.
"We've launched our next growth phase - a three year, $300 million capital expansion programme - and willcontinue to pursue profitable opportunities to make more from milk. I'm pleased NZX and ASX investors both have the opportunity to be a part of our journey."
Synlait's growth was recently underpinned by the successful $98 million pro-rata rights issue, which closed in October 2016.
Synlait has listed on ASX as a foreign exempt issuer under a compliance listing, which will not see anycapital raised as apart of theprocess.
In the financial year ending 31 July 2016 (FY16), Synlait reported a record net profit after tax (NPAT) of $34.4 million ($10.6 million in FY15).
Located in New Zealand's South Island, Synlait employs more than 430 staff and their Dunsandel site inCanterbury received 658 million litres of milkinFY16.
ENDS
For more information, visit www.synlait.com or contact: Dan Walraven
Communications Manager, Synlait Milk:
P:+64 27 8367532
E : daniel.walraven@synlait.com