Acquisition Of Shares
Olam International Limited (the “Company”) wishes to announce that the Company has acquired the entire issued and paid-up share capital comprising 1,000 shares of AED10 each of Rudra International Limited (“Rudra”), a company incorporated in Jebel Ali Free Zone, United Arab Emirates for a cash consideration of US$2,350,000 (approximately S$3,550,000).
The principal activities of Rudra are those of sourcing, processing and supply chain management of agricultural products.
Following the acquisition, Rudra becomes a direct wholly-owned subsidiary of the Company.
The acquisition was funded by internal resources and is not expected to have any significant impact on the financial position of Company 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.
