Dairy company Synlait has dismissed a complaint from its founder over the processors capital raise

John Penno lodged a notice of complaint, after Synlait announced it would raise over 200 million dollars via a placement to its two largest shareholders.

Penno believed those companies should not be able to vote on resolutions relating to the capitalisation.

Synlait Chair George Adams says the board is following a comprehensive process, focusing on ensuring retail shareholders understand the proposals merits.

Adams says they're confident it will return Synlait to profitability and benefit shareholders.