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SINGAPORE – The Board of Directors of Olam Group Limited (the “Company”) refers to the announcement (the “Announcement”) and the news release of the Company dated 17 April 2025 in relation to the proposed sale of the Company’s remaining 32.4% stake in ARISE P&L Limited (“ARISE P&L”) pursuant to the conditional sale and purchase agreement dated 16 April 2025 entered into between Olam International Limited and Equitane DMCC (the “Proposed Disposal”).
The Announcement stated that completion of the Proposed Disposal is conditional upon obtaining various approvals (“Approvals”), and that completion is expected to take place by 31 December 2025.
The Board wishes to update that it has made progress in securing approvals from the different lenders to ARISE P&L. The lenders’ approval is an enabling step to approach the shareholders of ARISE P&L and the regulatory authorities for their approvals. The Company intends to proceed to complete the Proposed Disposal as soon as practicable upon the receipt of all the Approvals.
The Company will make further announcements, in compliance with the requirements of the listing manual of the Singapore Exchange Securities Trading Limited, as and when there are material developments in respect of the proposed sale.
Shareholders of the Company are advised to exercise caution in trading their shares of the Company as there is no certainty or assurance as at the date of this announcement that the proposed sale will proceed to completion, as completion of the proposed sale is subject to, inter alia, fulfilment of all the conditions precedent in the sale and purchase agreement for the transaction.
Shareholders are advised to read this announcement and any further announcements by the Company carefully and should consult their stockbrokers, solicitors or other professional advisors if they have any doubts about the action they should take.
