Bega denies WCB bid request

Suitor refuses to budge on performance rights condition despite target request.

Warrnambool Cheese and Butter Factory Company Holdings (WCB) intends to seek shareholder approval for the grant of extra performance rights to its chief executive officer, despite Bega Cheese's (WCB) takeover offer saying no performance rights are to be granted during the offer period.

In a statement to the Australian Securities Exchange, WCB said it plans to seek approval at its annual general meeting to grand additional performance rights to CEO David Lord, in accordance with its executive performance rights plan.

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