date:May 23, 2014
closing share price on 15 April 2014 of $3.69 per share, the closing price of the Treasury Wines shares on the day prior to KKR approaching Treasury Wines;
28 per cent ot the one month volume weighted average share price on 15 April 2014 of $3.68 per share; and
29 per cent premium to the median broker consensus target price for Treasury Wines of $3.64 per share
Treasury Wines said KKR had requested that the takeover proposal be kept confidential. Treasury Wines said its Board decided that, in