I've gone back and read the SAMR announcement and to be honest I...

I've gone back and read the SAMR announcement and to be honest I can't really tell. It reads like there is no need for a new registration if the content does not change - but A2M is re applying, which suggests some change (even if superficial). Agree there is also updated labelling requirements as well. Either way it is not a big deal IMO. They would never do anything radical that would jeopardise re-registration and will be guided by both Synlait and their China State Farms.

My point earlier was more that the English label product refresh involves an improvement to the product itself, not merely new packaging.

There is some further detail given on both the EL product launch and the CL registration given in the 1H22 analyst call, around the 1:11min mark. It is explicitly called an upgrade to the product.

They say EL will be a 'soft' phase in - phase out rather than a hard one where old product is stripped out of the channel. So we will start seeing it progressively roll-out shortly.