BEGA CHEESE LIMITED — M&A Activity 2011

Dec 15, 2011

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ASX ANNOUNCEMENT

SUPREME COURT OF VICTORIA APPROVES TATURA MILK SCHEME OF ARRANGEMENT

The Supreme Court of Victoria today approved the Tatura Milk Industries Limited (Tatura Milk) scheme of arrangement to effect a full merger with Bega Cheese Limited (Bega Cheese). The Court’s approval of the scheme follows approval by the Tatura Milk redeemable preference shareholders at the scheme meeting held on Wednesday 14 December 2011.

The scheme is due to be implemented on 23 December 2011, at which time Tatura Milk redeemable preference shareholders will receive two Bega Cheese shares for every Tatura Milk redeemable preference share they hold as at 5 pm today.

The Directors of Bega Cheese welcome the approval of the Court following the overwhelming approval of Tatura Milk shareholders at Wednesday's scheme meeting.

16 December 2011

For further information please contact

Barry Irvin David Williams Chairman Managing Director Bega Cheese Limited Kidder Williams Limited (02) 6491 7777 0414 383 593