| Announcement of Cessation of Executive Director | |
| * Asterisks denote mandatory information | |
| Name of Announcer * | OLAM INTERNATIONAL LIMITED |
| Company Registration No. | 199504676H |
| Announcement submitted on behalf of | OLAM INTERNATIONAL LIMITED |
| Announcement is submitted with respect to * | OLAM INTERNATIONAL LIMITED |
| Announcement is submitted by * | Neelamani Muthukumar |
| Designation * | Senior Vice President, Head - Corporate Affairs, Legal & Secretariat |
| Date & Time of Broacast | 14-Oct-2013 07:49:25 |
| Announcement No. | 00017 |
| Price Sensitivity | No |
| >> Announcement Details | |
| The details of the announcement start here ... |
| Name * | Sridhar Krishnan |
| Age * | 59 |
| Is Effective Date of Cessation known? * | Yes |
| Effective Date of Resignation | 30/10/2013 |
| Detailed Reason(s) for cessation * | The stepping down of Mr. Sridhar Krishnan from the Board is in line with the formal plan for the on-going renewal of the Board put in place by the Board with effect from 1 July 2013. Further, the Board has decided to reduce the number of executive directors to have more independent representation on the Board. |
| Is there any difference of opinion on material matters between the person and the Board of directors? * | No |
| If yes, please elaborate * | NA |
| Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer? * | No |
| Date of Appointment to current position * | 01/04/1998 |
| Job Title * | Executive Director |
| Role and responsibilities * | Sridhar Krishnan is a member of Olam-s Executive Committee. As a Senior Managing Director and Regional Head, he is responsible for the Company-s businesses and operations in Australia, Asia, the Americas and the Andean Region as well as Russia. He also oversees the Corporate Communications, Insurance and Administration functions. |
| Does the AC have a minimum of 3 members (taking into account this cessation) * | Yes |
| Number of Independent Directors currently resident in Singapore (taking into account this resignation) * | 5 |
| Number of Cessations of persons specified in Rule 704(7) of the Listing Manual over the past 12 months * | Nil |
| Shareholding in the listed issuer and its subsidiaries * | 15,856,879 Ordinary Shares (These shares include the 1,418,826 shares that were jointly registered under Sridhar Krishnan, Shekhar Anantharaman and Joydeep Bose ("the Trustees") and are held in trust for the management (including the directors) and employees of the Group pursuant to the Olam International Limited Employee Share Subscription Scheme 2004 ("ESSS")) US$1,264,059 6.75% Bonds due 2018 654,241 Warrants issued at an exercise price of US$1.291 for each new share 3,100,000 share options |
| Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries * | Nil |
| >> Other Directorship # | |
| # These fields are not applicable for announcements of appointments pursuant to Rule 704(9) | |
| Past (for the last five years) * | Singapore Commodity Exchange Limited |
| Present * | Aviv Tanzania Limited Congolaise Industrielle des Bois SA Napier Healthcare Solutions Pte Ltd Olam Burundi SA Olam Europe Limited Olam Europe BV Olam Agro India Limited Olam Insurance Limited Olam Liberia Limited Olam Nigeria Limited Olam Shanghai Limited Olam Tanzania Limited Olam (Uganda) Limited Olam Vietnam Limited Olea Tanzania Limited Outspan Costa Rica S.A. Outspan Ivoire SA Outspan Panama SA tt Timber International AG Victoria Commodities Limited |
| Footnotes | The stepping down of Mr Sridhar Krishnan from the Board takes effect immediately after the close of the Company's 19th Annual General Meeting on 30 October 2013. |
