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Freedom Foods shares tank after hiatus – The Australian Financial Review

The manufacturer of UHT milk and plant based drinks shares fell nearly 84 per cent after returning to trade following a nine-month hiatus.

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On March 19, Freedom Foods announced it had entered into binding agreements with the Perich family and its two senior lenders, NAB and HSBC, to recapitalise the business and restructure the companys remaining senior debt facilities.
On Friday night, new chairwomen Genevieve Gregor said proceeds from the capital raising will be used to repay between $183 million and $233 million of its existing debt, depending on the take up.
The new fresh funds would also provide a more flexible capital structure…

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