Incorporation Of Subsidiary
Olam International Limited (the “Company”) wishes to announce that the Company has incorporated a subsidiary in the Arab Republic of Egypt known as Olam Egypt L.L.C. (“Olam Egypt”), with an authorised and paid-up capital of EGP500,000 divided into 5,000 shares of EGP100 each (approximately S$138,000).
The principal activities of Olam Egypt are those of sourcing, processing and supply chain management of agricultural products and food ingredients.
The incorporation of Olam Egypt 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.