Press Release

    Olam Lodges Takeover Notice for up to 100% of Issued Shares in NZ Farming Systems Uruguay

    Press release

    Olam International Limited (the “Company” or “Olam”) today announced that it has notified NZ Farming Systems Uruguay Limited (“NZFSU'”) of its intention to make a cash offer at NZ$0.75 per share (“Offer Price”) for all of the shares in NZFSU that it does not already own (“the Offer”). Olam believes this is a full and fair price for NZFSU shares, and accordingly the Offer Price will not be increased.

    Olam is currently the largest shareholder in NZFSU with 85.93% shareholding following the takeover offer for NZFSU that closed in June 2011. If Olam is successful in achieving 100% shareholding of NZFSU at the Offer Price, the additional consideration payable will be NZ$ 25.8 million taking Olam’s total acquisition cost to NZ$ 159.6 million.

    Olam expects to dispatch the Offer document within 14 to 30 days from the date of this press release.

    Note:

    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.

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