10 May 2019
POKENO LAND DECISION
Synlait (NZX: SML; ASX: SM1) is currently working through what a decision in the Court of Appeal yesterday will mean 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.
“We will take some time to review the decision and consult with various advisors,” says Synlait CEO, Leon Clement.
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