Synlait Confident in Actions Regarding Pokeno Site

Synlait Milk Ltd · 1028 Heslerton Road, RD13 Rakaia, Canterbury, New Zealand · +643 373 3000 · www.synlait.com

SYNLAIT MILK LIMITED ANNOUNCEMENT NZX: SML
ASX: SM1
10 MAY 2019

SYNLAIT CONFIDENT IN
ACTIONS REGARDING
POKENO SITE
Synlait (NZX: SML; ASX: SM1) has acted in accordance with legal advice at all times in respect to land at
Pokeno which was subject to a decision in the Court of Appeal yesterday.
In February 2018 Synlait announced the conditional purchase of 28 hectares of land in Pokeno to establish
its second nutritional powder manufacturing site.
Due to the Pokeno land being rezoned industrial land from grazing land, and the development in the
Pokeno area including the building of another dairy plant, Synlait was confident the land covenants no
longer remained relevant. This was confirmed when the High Court removed the covenant in November
2018.
“It made sense as a result of zoning and proper planning that allowed for industrial zoning that the land
covenants would be removed by the court which they were,” says Synlait’s CEO, Leon Clement.
Synlait only took legal title to the land after the High Court decision removing the land covenants.
“Yesterday’s Court of Appeal decision was unexpected,” he says.
Synlait will continue to engage with all parties involved and is confident the covenants issue should be
able to be resolved by the parties.
The company remains committed to the location.
“We intend to continue with our plans at Pokeno,” says Mr Clement.

ENDS
For more information about Synlait visit www.synlait.com
or contact:
Jessica Thorn
Senior Communications Advisor, Synlait Milk
P: +64 3 373 3353
E: Jessica.thorn@synlait.com