Bega Cheese Limited (Bega Cheese) is pleased to offer eligible shareholders an opportunity to acquire additional Bega Cheese shares under a Share Purchase Plan Offer (SPP Offer).

Under the SPP, each eligible Bega Cheese shareholder as at 7.00pm (AEST) on 22 June 2017 will have an opportunity to subscribe for up to A$15,000 of new Bega Cheese shares, subject to scale back, without incurring brokerage or transaction costs. The intention to launch the SPP Offer was announced at the time of announcement of Bega Cheese’s recently completed institutional placement (Institutional Placement).

The proceeds from the Institutional Placement and the SPP will be used to improve Bega Cheese’s financial flexibility to take advantage of future growth opportunities in dairy and food. The SPP Offer aims to raise approximately A$37.5 million and is not underwritten. Bega Cheese may determine to raise a higher amount or decide to scale back applications under the SPP Offer at its absolute discretion.

Bega Cheese’s Executive Chairman, Mr Barry Irvin, said “I encourage Eligible Shareholders to participate in the SPP Offer and take advantage of the opportunity to acquire additional Bega Cheese shares at an Issue Price of A$5.25 per share, being a A$0.10 discount to the issue price under the Institutional Placement and a A$1.02 discount to the closing price of A$6.27 per Share on ASX on 28 June 2017”.

The SPP Offer opens on Monday, 3 July 2017 and is scheduled to close at 5.00pm (AEST) on Monday, 31 July 2017.

Full details of the SPP Offer are available at www.begacheese.com.au