Synlait Milk updates on renewal of SAMR licence; Shares up on ASX

Synlait Milk Limited (ASX: SM1) has provided an update on the re-registration for its State Administration for Market Regulation (SAMR) licence for The a2 Milk Company’s (ASX:A2M) Chinese labelled 至初 ® Infant Formula.

The Company reveived notification from SAMR that its existing registration has been renewed. Thus, through this renewal, the Company would be able to produce manufacture Chinese labelled 至初® Infant Formula until 21 February 2023 under the earlier GB standard.

Simultaneously, SN1 will work in the direction of attaining its re-registration under the new GB, which is a food safety legislation. 

Now, SM1 is working with A2M on stock transition plans. It does not expect current forecasted volumes of China-label a2 Platinum® Infant Formula get impacted by changes to the re-registration timetable.

At AEST 10:42 AM, SM1 shares are trading at AU$3.150, up 0.961% on ASX. 

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