Incorporation Of Subsidiary
Olam International Limited (the “Company”) wishes to announce that pursuant to an internal restructuring exercise, the Company has incorporated a new subsidiary in the State of Delaware, United States of America known as Olam US Holdings, Inc. (“Olam US”) as an immediate holding company of Olam Americas, Inc. (“Olam Americas”).
The principal activity of Olam US is that of investment holding.
The Company has contributed to Olam US share capital by exchanging 100 shares of common stock of Olam Americas, par value of US$0.01 per share, being all of the issued and outstanding stock of Olam Americas held by the Company, for 100 shares of common stock of Olam US, par value of US$0.01 per share.
Following the above transaction, Olam US becomes a direct wholly-owned subsidiary of the Company and Olam Americas now becomes an indirect wholly-owned subsidiary of the Company.
The incorporation of Olam US is not expected to have any significant impact on the financial position of the 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.