Synlait could be going from the cream of the crop to skimming the edge of survival. 

Shareholders of the dairy processor are gathering at its Dunsandel site today to vote on a proposed $218 million capital raise. 

Board chair George Adams told Mike Hosking his confidence is high, and it would allow Synlait to move forward from the de-leveraging. 

He says they'll then focus on drawing their farmers back and delivering good business. 

If voted down, Synlait has warned it will end up in some sort of insolvency process. 

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