Increase in Investment In Subsidiary
Olam International Limited (the “Company”) wishes to announce that the Company has increased its investment in its wholly-owned subsidiary, Caraway Pte. Ltd. (“Caraway”) from S$2 to S$200,000 through subscription of an additional 199,998 shares of S$1 each in the capital of Caraway. The consideration for the subscription was satisfied in full by way of capitalizing part of a loan due by Caraway to the Company.
The transaction is not expected to have any significant impact on the financial position of the 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 transaction.