Change - Change in Corporate Information::New Associated Company

Issuer

Issuer/ Manager
GOLDEN AGRI-RESOURCES LTD

Announcement Details

Announcement Title
Change - Change in Corporate Information
Date &Time of Broadcast
04-Apr-2019 19:19:41
Status
New
Announcement Sub Title
New Associated Company
Announcement Reference
SG190404OTHRUZXY
Submitted By (Co./ Ind. Name)
Kimberley Lye Chor Mei
Designation
Director, Corporate Secretarial
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of Golden Agri-Resources Ltd ("GAR" and together with its subsidiaries, the "Group") wishes to announce the Group's subscription of 500,000 shares in the share capital of Temix Oleo S.r.l. ("Temix"), for a total consideration of EUR4,000,000 (equivalent to US$4,496,000) which was fully settled in cash from internal resources.

Temix is a limited liability company registered in Italy, which is principally engaged in the production of fatty acids and esters. Temix is also active in distribution of fatty alcohol and other chemicals.

Following the allotment of shares to the Group, Temix became a 25% associated company of the Group.


By Order of the Board
GOLDEN AGRI-RESOURCES LTD




Rafael Buhay Concepcion, Jr.
Director
4 April 2019


Note: The amount in USD equivalent using the exchange rate as at 3 April 2019 of EUR1 = USD1.124.

Place Of Incorporation

Existing
Mauritius
New

Registered Address

Existing
New