Incorporation Of Subsidiary
Olam International Limited (the “Company”) wishes to announce that the Company has incorporated a subsidiary in the Republic of The Gambia known as Multipro Gambia Limited (“Olam Gambia”) with an authorized capital of GMD1,000,000 divided into 10,000 shares of GMD100 each and initial paid-up capital of GMD100,000 (approximately SGD7,300) divided into 1,000 shares of GMD100 each.
The principal activities of Olam Gambia are those of sourcing, processing and supply chain management of agricultural products and food ingredients.
The incorporation of Olam Gambia 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.