The a2 Milk Company increases investment in Synlait Milk

The a2 Milk Company ("a2MC") wishes to announce it has increased its shareholding in Synlait Milk Limited ("Synlait"; NZX: SML; ASX: SM1). a2MC has acquired shares on market at a price of NZ$4.95 per share, below a2MC's average entry price for its interest in Synlait. This increases a2MC's interest in Synlait from 17.4 per cent to 19.84 per cent. a2MC's Chief Executive Officer, Mr Geoffrey Babidge said: "Following the recent decline in Synlait's share price, we viewed this as an opportunity to complete our strategic holding. Our shareholding reflects the importance to us of our commercial supply arrangements with Synlait." a2MC has no plans to increase its shareholding in Synlait beyond 19.9%. Geoffrey Babidge Chief Executive Officer The a2 Milk Company Limited End CA:00350456 For:ATM Type:GENERAL Time:2020-03-23 13:19:40