April 8 - Olam International Limited (the “Company”) wishes to announce the increase of its investment in the following wholly-owned subsidiaries:
(1) OLAM POLSKA SP. Z.O.O.
The Company has increased its investment in Olam Polska Sp. Z.o.o. from PLN866,000 to PLN4,366,000 through subscription of an additional 3,500 shares of PLN1,000 each at PLN1,000 per share fully paid.
(2) OLAM ARGENTINA S.A.
The Company has increased its investment in Olam Argentina S.A. from ARS12,000 to ARS3,050,000 through subscription of an additional 3,038,000 common, non-endorsable registered stocks, of ARS1 par value each, at ARS1 per share partially paid.
(3) OUTSPAN IVOIRE S.A.
The Company has increased its investment in Outspan Ivoire S.A. from XOF3,000,000,000 to XOF3,500,000,000 through subscription of an additional 50,000 shares of XOF10,000 each at XOF10,000 per share fully paid.
(4) OUTSPAN BRASIL IMPORTACÃO E EXPORTACÃO LTDA.
The Company has increased its investment in Outspan Brasil Importacão E Exportacão Ltda. from BRL2,700,000 to BRL6,000,000 through subscription of an additional 3,300,000 shares of BRL1 each at BRL1 per share fully paid.
The above transactions were funded by internal resources and are not expected to have any significant impact on the financial position of Olam group for the current financial year.
None of the Directors or substantial shareholders of the Company has any interest, direct or indirect, in the above transactions.
About Olam International Limited
Olam is a leading global integrated supply chain manager of agricultural products and food ingredients, sourcing 14 products with a direct presence in 56 countries and supplying them to over 4,000 customers in more than 60 destination markets. With direct sourcing and processing in most major producing countries for its various products, Olam has built a global leadership position in many of its businesses, including cocoa, coffee, cashew, sesame, rice, cotton and teak wood. Headquartered in Singapore and listed on the SGX-ST on February 11, 2005, Olam currently ranks among the top 50 largest listed companies in Singapore in terms of market capitalisation and is now a component stock in the revamped Straits Times Index (STI). Olam received three prestigious honours at the Singapore Corporate Awards 2007 and the “Most Transparent Company” Award (Commerce) at the SIAS Investors’ Choice Awards 2007. It was also named one of Singapore’s top 10 globalised companies by International Enterprise (“IE”) Singapore in its third annual Singapore International 100 Ranking 2007.