Change - Announcement of Cessation::Resignation of Director

Issuer & Securities

Issuer/ Manager
OLAM INTERNATIONAL LIMITED
Securities
OLAM INTERNATIONAL LIMITED - SG1Q75923504 - O32
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-Dec-2021 07:55:05
Status
New
Announcement Sub Title
Resignation of Director
Announcement Reference
SG211231OTHRAX82
Submitted By (Co./ Ind. Name)
Michelle Tanya Kwek
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr. Shekhar Anantharaman as Executive Director

Additional Details

Name Of Person
Shekhar Anantharaman
Age
58
Is effective date of cessation known?
Yes
If yes, please provide the date
31/12/2021
Detailed Reason (s) for cessation
The Company had on 20 January 2020 announced the re-organisation of its diverse business portfolio to create two new coherent operating groups that are well-positioned for further growth in line with key consumer trends and market opportunities (Re-organisation). The Re-organisation will enable the Company to explore options to maximise Olam s long-term value via potential carve-out and capital raising options, including IPO listing for OFI. Along with the announcement of the Re-organisation, Mr. Shekhar Anantharaman was appointed Chief Executive Officer of OFI (OFI CEO). The stepping down of Mr. Shekhar Anantharaman as Executive Director on the Board of the Company will enable him to focus on his responsibilities as OFI CEO.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?
No
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
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
01/04/1998
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 cessation)
5
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director
Member of Board Risk Committee
Member of Board Steering Committee
Role and responsibilities
As above
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Ordinary Shares - 19,923,900
Options to subscribe for ordinary shares - 3,250,000
Share awards - 2,152,675 unissued shares comprising 722,175 unvested RSA and 1,430,500 PSA
Past (for the last 5 years)
Caraway Pte. Ltd.
Far East Agri Pte. Ltd.
Present
Cafe Outspan Vietnam Limited
Olam Almonds Australia Pty Ltd
Olam Americas, Inc.
Olam Europe Limited
Olam International UK Limited
Olam Investments Limited
Olam Orchards Australia Pty Ltd
Olam Peanut Shelling Company, Inc. (fka McCleskey Mills Inc.)
Olam Treasury Pte Ltd
Olam US Holdings, Inc.
Olam West Coast, Inc.
Outspan PNG Ltd
Olam Holdings Pte. Ltd.
Olam Food Ingredients Australia Proprietary Limited
Olam Group Limited
OFI Group Limited