Synlait Milk Calls Annual Meeting for 4 December 2026 with Director Elections and Fee Pool Reduction

Sonal Goyal

05 November 2026 03:14 PM AEDT

Synlait Milk Calls Annual Meeting for 4 December 2026 with Director Elections and Fee Pool Reduction

Image Source: Krish Capital Pty Ltd

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Synlait Milk Limited (ASX:SM1) has issued its Notice of Annual Shareholders' Meeting scheduled for 11:00am (NZT) on Friday 4 December 2026, with shareholders asked to vote on director elections, auditor remuneration, and a reduction in the aggregate directors' fee pool from $827,550 to $827,250, effective 1 January 2027.

Key Points

Annual Meeting set for 11:00am NZT on 4 December 2026 at Synlait Dunsandel, with an online attendance option also available
Shareholders will vote on the re-election of Leon Fung and the elections of Katherine Turner and Xu Yanqun (Yvonne) as directors
Resolution 5 proposes reducing the aggregate directors' fee pool by $300, from $827,550 to $827,250, with effect from 1 January 2027
The Board unanimously recommends shareholders vote in favour of all five resolutions

Director Re-Election and Two New Board Elections

Three director resolutions are on the agenda at Synlait's 2026 Annual Meeting. Leon Fung, who was appointed Chief Executive Officer on 21 October 2026 and holds the title of Managing Director, stands for re-election. The filing notes he is not an Independent Director under NZX Listing Rules given his executive role. Katherine Turner, classified as an Independent Director, stands for election, bringing a background that includes CFO and leadership roles at TOMRA Food, Sanford, Fonterra and Danone, along with prior board service at Bremworth Limited. Xu Yanqun (Yvonne), Deputy Finance Director of Bright Dairy — Synlait's majority shareholder — also stands for election, having been appointed to the Board in October 2026 following the resignation of Tao Zhang.

Directors' Fee Pool Reduction Proposed from January 2027

Resolution 5 asks shareholders to approve a decrease of $300 in the total annual directors' fee pool, reducing it from $827,550 to $827,250, with the change to take effect from 1 January 2027. Under NZX Listing Rule 2.11.1 and Synlait's Constitution, the maximum aggregate remuneration payable to all directors must be authorised by an ordinary resolution of shareholders. The filing states that the revised sum will be divided among directors as the Board deems appropriate. All resolutions at the meeting are ordinary resolutions, requiring approval by a simple majority of votes cast by eligible shareholders.

Meeting Logistics and Key Voting Dates

The Annual Meeting will be held in person at 1028 Heslerton Road, Dunsandel, a manufacturing facility requiring security, health, and safety checks for all attendees. The filing advises shareholders attending in person to arrive 30 minutes beforehand. The record date for entitlement to vote is 7:00pm NZT on Wednesday 2 December 2026, with proxy and voting forms required to be received by 11:00am NZT on the same date. Resolution 4 proposes authorising the Board to determine the fees and expenses of the company's auditors, KPMG, for the upcoming financial year.

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