MANDATORY CONVERSION OF US$106,080,000 1.2821 PER CENT. CONVERTIBLE BONDS DUE 2013 (THE "BONDS")
Olam International Limited (the “Company“) wishes to announce that the Company has on 10th August 2010, provided notice to The Bank of New York Mellon, the trustee and principal agent, for distribution to the Bondholders, that it is exercising its right to mandatorily convert all the outstanding Bonds into ordinary shares in the capital of the Company, pursuant to the terms and conditions of the Bonds.
As of the date hereof, the aggregate principal amount of the Bonds which are outstanding is US$59,802,000. The Bonds would be mandatorily converted on 25 August 2010 at the applicable conversion price of S$1.625.
Sunny George Verghese
Group Managing Director and CEO
10 August 2010
The Bonds referred to above and the shares of the Company into which the Bonds will be converted to have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or the securities laws of any state of the United States or other jurisdiction. This announcement does not constitute an offer of securities for sale in the United States. No public offering of the securities will be made in the United States, and the Company does not intend to register any of the Bonds or the shares of the Company in the United States.
- Attachments: 20100811042235_aug102010-mandatoryconversion