(1) Incorporation Of Olam Information Services Private Limited; (2) Increase In Investment In Caraway Foods International South Africa (Proprietary) Limited; And (3) Increase In Investment In OUTSPAN COLOMBIA S.A.
Olam International Limited (the “Company”) wishes to announce the following:
(1) INCORPORATION OF OLAM INFORMATION SERVICES PRIVATE LIMITED
The Company has incorporated a new subsidiary in India known as Olam Information Services Private Limited (“Olam IS”) with an authorized, issued and paid-up share capital of INR100,000 divided into 10,000 Equity shares of INR10 each.
The principal activity of Olam IS is that of the provision of information technology services.
(2) INCREASE IN INVESTMENT IN CARAWAY FOODS INTERNATIONAL SOUTH AFRICA (PROPRIETARY) LIMITED
The Company has increased its investment in its wholly-owned subsidiary, Caraway Foods International South Africa (Proprietary) Limited from ZAR100 to ZAR43,550 through subscription of an additional 4,345,000 shares of ZAR0.01 each at ZAR1 per share fully paid.
(3) INCREASE IN INVESTMENT IN OUTSPAN COLOMBIA S.A.
The Company has increased its investment in its wholly-owned subsidiary, OUTSPAN COLOMBIA S.A. from COP3,000,000,000 to COP3,130,000,000 through subscription of an additional 130 shares of COP1,000,000 each at par per share fully paid.
The above transactions were funded by internal resources and are 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 transactions.