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Investor Relations

Warrants Exercise

Basic Information on Olam Warrants (Olam W 180129 US$)
ISIN code: SG9OA6989222
Issue date: 29 January 2013
Singapore Exchange (SGX) listing date: 31 January 2013
Number of outstanding warrants: 58,215,059(1)

(1)As at 21 November 2017

Exercise price: US$1.09(2) for each New Share on the exercise of a Warrant

(2)Exercise price was adjusted with effect from 21 Nov 2017.

Exercise period: Commencing on and including the date falling 36 months after 29 January 2013 and expiring at 5.00 p.m. (Singapore time) on a date falling 60 months after 29 January 2013 (i.e. 29 January 2018), excluding such period(s) during which the register of warrantholders may be closed pursuant to the deed poll.
Expiry date and time: 29 January 2018, 5.00 p.m. Singapore time
Warrant Agent: Boardroom Corporate & Advisory Services Pte. Ltd
50 Raffles Place, #32-01 Singapore Land Tower
Singapore 048623
Telephone: +65-6536 5355
How to exercise your warrants: The warrant exercise notice can be obtained from the Warrant Agent’s office stated above.  For enquiry on the documents required and process for warrants exercise, you may also contact the Warrant Agent.

FAQ

1. Please explain how I received these warrants. Expand

If you had not purchased these warrants from the open market, you would have received these warrants which came free and detachable with your subscription to the US$750 million 6.75% bonds due 2018 (the “Bonds”) in January 2013.  The Company has fully redeemed the Bonds. Each warrant carries the right to subscribe for one new ordinary share of the Company.

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2. What can I do about these warrants? Expand

You may either exercise your warrants and convert these to ordinary shares or sell these warrants in the open market on the SGX.  The last day to exercise the warrants is 29 January 2018 (5.00 pm Singapore time) and the last day of trading of warrants is 5 market days before the last date*.  Please note that the warrants are traded in US dollars while the shares are traded in Singapore dollars.

*To be confirmed by CDP/SGX upon approval of the Company’s warrant expiry notice.

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3. What is the exercise price of the warrants? Expand

The exercise price is US$1.09, which was last adjusted on 21 November 2017.  This price applies to all warrants held by warrantholders at the time of a warrant exercise.  Please note that the shares of the Company are traded in Singapore dollars on the SGX.

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4. Is there an equivalent exercise price in Singapore dollars? Expand

No, the exercise price is in US dollars only.

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5. When will the next adjustment of the exercise price take place? Expand

Condition 5 of the Warrant Instrument sets out a list of conditions whereby the exercise price and the number of warrants may be adjusted from time to time.  An example from the list of conditions is the payment of dividend by the Company.  If the Company pays a dividend before the warrants expire, an adjustment will be made to the exercise price and the number of warrants.  Please look out for any announcement that the Company makes from time to time.

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6. How do I go about exercising my warrants? Expand

The warrant exercise notice can be obtained from the Warrant Agent’s office stated above.  For enquiry on the documents required and process for warrants exercise, you may also contact the Warrant Agent.

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7. If I exercise my warrants today, when will I get the shares? Expand

If you exercise your warrants today, you shall within five (5) business days after the relevant exercise date receive the shares credited to your securities account.

If you elect in the warrant exercise notice to receive physical share certificates in respect of the shares arising from the exercise of the warrants, the Company shall despatch, not later than five business days after the exercise date, by ordinary post to the address specified in the exercise notice.

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8. Will the Company be sending a reminder to warrantholders to exercise their warrants before the expiry date? Expand

The warrant agent will despatch a notice on the expiry of the warrants to all warrantholders one month before the expiry date.

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9. Who can I contact if I have further questions? Expand

You can reach out to Olam Investor Relations at ir@olamnet.com or contact the following persons:

Aditya Renjen
Vice President
+65 66031104 /+65 96570339
aditya.renjen@olamnet.com

Chow Hung Hoeng
General Manager
+65 63179471/+65 98346335
chow.hunghoeng@olamnet.com

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The above information is correct as of 21 November 2017.