Olam Secures 100% Shareholding of NZFSU
Olam International Limited (“Olam”) refers to its full cash takeover offer, which closed on 30 November 2012, for all of the shares of NZ Farming Systems Uruguay Limited (“NZFSU'”) that Olam did not already own at an offer price of NZ$ 0.75 per share (“Offer”).
On 26 November 2012, Olam issued a Notice of Compulsory Acquisition (“Notice”) advising that it had acquired a relevant interest in more than 90 per cent of the shares in NZFSU and had become a dominant owner under the takeovers code.
Olam wishes to announce that, in accordance with the Offer and the Notice, Olam has now completed compulsory acquisition of remaining NZFSU shares. As a result, Olam now owns 100% of outstanding shares in NZFSU. NZFSU has already been delisted and its ordinary shares ceased to be quoted on the NZX Main Board from close of business on 6 December 2012.
The total consideration paid by Olam for the additional NZFSU shares acquired in the Offer is NZ$ 25.8 million. This brings Olam’s total acquisition cost of 100% shareholding in NZFSU to NZ$ 159.6 million.
This release should be read and understood only in conjunction with the full text of Olam International Limited’s other announcements lodged on SGXNET on the same subject.