Synlait considers Pokeno land decision reversal

Company News

by Rachael Jones

New Zealand dairy processing company Synlait (ASX:SM1) is currently working through the Court of Appeal decision yesterday and what it means for the Pokeno plant.

In February 2018 Synlait announced the conditional purchase of 28 hectares of land in Pokeno to establish its second nutritional powder manufacturing site.

The title to the Pokeno land has since transferred to Synlait after the removal of land covenants by the High Court late last year.

That High Court decision was reversed yesterday.

Shares in Synlait (ASX:SM1) closed 4.77 per cent lower at $9.39.