Incorporation Of Subsidiary
Olam International Limited (the “Company”) wishes to announce that the Company has incorporated a subsidiary in the Russian Federation known as Limited Liability Company Outspan International (“Outspan International”), with an initial authorised capital stock of RUB1,450,000 (approximately US$51,200).
The principal activities of Outspan International are those of sourcing, processing and supply chain management of agricultural products and food ingredients.
The incorporation of Outspan International 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.