The announcement just seems calculated to put the boot into SML rather than being a material change of relationship. As such i see it as a "mind game" pre a potential acquisition.
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think it says we (A2) want to make some of this ‘exclusive’ stuff ourself (MVN) so we found a reason (DIFOT) to end the ‘exclusive’ bit ….and we not really friends
Synlait in a trading halt.....until Wednesday!!
https://www.nzx.com/announcements/418354
NZ RegCo advises that, at the request of the issuer, it has placed a trading halt on Synlait Milk Limited (NS) (“SML”) ordinary shares and “SML010” bonds. The halt was placed at premarket open today, Monday, 18 September 2023.
SML has requested the trading halt while it considers new information it has received in relation to a material contract with a third-party customer, and the impact of this information on SML.
The trading halt is expected to be lifted at the earlier of the release of an announcement by SML in relation to the new information, or market open Wednesday 20 September 2023.
Please contact NZX Product Operations on +64 4 496 2853 or productoperations@nzx.com with any queries.
Going to be ugly on Wednesday.
They need to come out with something positive about asset sales and debt levels, otherwise this is going to crater.
Anyone know if they halt the bonds as well? SML010 currently at 15% yeild, Dec 24 payback.
new hope or bright cancelled orders ? most likely going to default on the bonds :scared: company collapse ?
Some amazing trades coming up if you are A2 and Bright. Buy the bonds and stock at huge discounts on Wednesday.
Proceed to takeover. Fish in a barrel...
actuall y just seen its a2 cancelling on synliat , must be looking to produce themselves
or do you just let them bankrupt and buy the assets later?
Just lost the ‘exclusivity’ part of the supply agreement and that won’t happen until 2024 if unsuccessful in arbitration
But the market being what it is will think of all the dire consequences and react accordingly
Might even impact A2 share price as well