You seem to miss that I corrected that post pretty much straight away,Post #:74472520
Actually the only date that counts is the 15th if the vote fails and it is all up to the banks and if they agree to alternate arrangements . "Synlait will notbe able to meet that payment obligation to its banks ifthe Shareholder Loan is not approved. If that paymentis not made and the banks do not agree to alternativearrangements, the Board’s view is that Synlait will need tocease trading or initiate a formal insolvency process."
Importance of the resolution to the future of the companyShareholders will be given the opportunity to vote on theresolution to approve the Shareholder Loan at the SpecialShareholders’ Meeting on Thursday 11 July 2024. If theresolution is approved by shareholders (and all conditionsunder the Shareholder Loan have been satisfied), Synlaitwill draw down the loan in full to meet the $130 millionpayment due to its banks on 15 July 2024. Synlait will notbe able to meet that payment obligation to its banks ifthe Shareholder Loan is not approved. If that paymentis not made and the banks do not agree to alternativearrangements, the Board’s view is that Synlait will need tocease trading or initiate a formal insolvency process.
A2M Price at posting:
$6.73 Sentiment: Sell Disclosure: Held
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