SML - Synlait Milk Ltd

**Bikeguy** · Today, 07:23 AM

Originally Posted by Balance

That’s the scenario. Minorities could of course participate in the CR in which case the status quo stays (ie. Bright stays at 39%].

Reality though is that between 5% to 10% of shareholders do not normally participate in any CR. More so when the stock has lost them so much money.

Hard to believe that SML was trading at over $10+ at one time!!!!

HGH is a case in point in recent times - I think 15% of minority retail shareholders did not participate so the underwriters ended up with 15m shares.

Thanks Balance,
This is going to be a doozy, what a scenario…Bright can pretty much take their ball and go home in a way if others ( minority shareholders) don’t play ball…like you say they propose a CR, underwritten by themselves, no one agrees, receivers called in…who would touch the asset (Dunsandal) when everyone knows the SAMR license that allows the product to be sold in China is issued by Bright ( my own belief)
My belief is Bright hold all the big cards in this.
We will all know in a few short months, best of luck to all us holders.

**mike2020** · Today, 07:28 AM

Originally Posted by Bikeguy

Thanks Balance,
This is going to be a doozy, what a scenario…Bright can pretty much take their ball and go home in a way if others ( minority shareholders) don’t play ball…like you say they propose a CR, underwritten by themselves, no one agrees, receivers called in…who would touch the asset (Dunsandal) when everyone knows the SAMR license that allows the product to be sold in China is issued by Bright ( my own belief)
My belief is Bright hold all the big cards in this.
We will all know in a few short months, best of luck to all us holders.

Sidebar. Fonterra shareholders were gutted (in more ways than one) when Westland went to the Chinese. They were underwater everywhere at the time and largely because of China investments. Wouldn't it be great to get all those suppliers back in the national team?

**billkiapi** · Today, 07:47 AM

https://www.farmersjournal.ie/viewpo...-losses-815699 puts a different perspective on things

**Balance** · Today, 08:05 AM

Originally Posted by mike2020

Sidebar. Fonterra shareholders were gutted (in more ways than one) when Westland went to the Chinese. They were underwater everywhere at the time and largely because of China investments. Wouldn't it be great to get all those suppliers back in the national team?

Heavens forbid!

The dairy industry in NZ desperately needs competition to ensure that Fonterra does not behave like it did in the past - arrogant, backward and vision less.

Long may competition thrive.