Increase In Investment In Subsidiary
SGX Filings 16th Aug, 2006
Olam International Limited (the “Company”) wishes to announce that the Company has increased its investment in its wholly-owned subsidiary, Olam South Africa (Proprietary) Limited, South Africa from ZAR1,000 to ZAR61,000 through subscription of 6,000,000 shares of ZAR0.01 each at ZAR1 per share fully paid.
The above transaction was funded by internal resources and is 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 transaction.