Ann: a2MC to support and participate in Synlait equity raise, page-18

You missed the following line in my post:

"The only way they see any return on their investment is if Synlait’s major customer A2M thrives." Don't you agree?

So what exactly are you concerned about Bright pulling out of?

Synlait's only real lifeline is manufacturing China label products for A2M and they know this, which is why they have committed to reapplying for further approval beyond 2027 and also a second product registration slot for A2M.

There are only four infant formula companies whose products are as popular or more popular than A2M in China, and they all already have control over their own manufacturing. What alternative does Bright have but to work as closely as possible with A2M? There is going to be no better source of revenue for Synlait.

Try and think about things from Bright's perspective - you just sunk $300M into Synlait, their revenue performance is dismal, they have no other meaningful business, their farmers are threatening going elsewhere because they think Synlait may go insolvent (which is still a possibility) - do you really think they are trying to find ways to screw over the only customer keeping them afloat?