PATTIES FOODS LTD(PFL)

delisted from the close of trading on Tuesday, 27 September 2016 pursuant to Listing rule 17.11.

we understand Australasian Foods Bidco Pty Ltd was successful with a cash offer of $1.65 (less a special dividend of 25 cents) per Patties share, or if they elected scrip, one Class B Share in Australasian Foods Holdco Pty Limited per Patties Share

The scheme of arrangement to effect the acquisition of Patties by Australasian Foods Bidco Pty Ltd has been fully implemented today. Australasian Foods Bidco Pty Ltd now holds all of the ordinary shares in Patties. The Cash Consideration of $1.40 ($1.65 less the amount of the Special Dividend of $0.25) for each Patties share held at 7:00pm (Melbourne time) on Thursday, 15 September 2016) has been sent to Patties shareholders today by either cheque or direct credit to previously nominated bank accounts.

Elections to receive the Scrip Consideration closed at 5:00pm (Melbourne time) on Monday 22 August 2016. As noted in the Indicative Election Outcome, under the Scheme, Elections (which are expressed as a percentage of the shareholding of a Patties Shareholder) will apply to the shareholdings of Patties Shareholders as at 7.00pm (Melbourne time) on Thursday, 15 September 2016 who made a valid Election on or before the Election Date, regardless of whether the shareholdings of those Patties Shareholders at the Scheme Record Date is greater or less than their holdings of Patties Shares as at the Election Date. Valid Elections received now correspond to a total of 42,434,444 Class B Shares from 119 Patties Shareholders as at 7.00pm (Melbourne time) on the Scheme Record Date. As this exceeds the Minimum Elections Threshold of 5,555,555 Class B Shares and does not exceed the maximum cap of 50,000,000 Class B Shares, Patties Shareholders who made a valid Election and who qualified as Scheme Shareholders will receive the Scrip Consideration for all of the Patties Shares for which they made a valid Election expressed as a percentage of the total Patties Shares that they hold as at the Scheme Record and will not be scaled back.

The securities of Patties Foods Limited will be suspended from quotation at the close of trading today, 5 September 2016 in accordance with Listing Rule 17.2, following lodgement of the Supreme Court of Victoria orders with the Australian Securities and Investments Commission approving the scheme of arrangement by which Australasian Foods Bidco Pty Ltd will acquire all of the issued shares in the Company.

listed entity carried for record purposes only