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http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1244907/1/.html
(Posted: 28 December 2012 1746 hrs)
SINGAPORE: Singapore-listed Olam International said its second-largest shareholder Temasek Holdings has further increased its stake to 19 per cent, from 18 per cent.
This is the third time in a month that the Singapore investment firm had boosted its shareholdings in the commodities group, which has been the target of short-seller Carson Block and his research firm Muddy Waters.
In a filing to the Singapore Exchange on Friday, Olam said Temasek had increased its holdings via two units in open-market purchases.
Earlier this month, Olam said Temasek is backing its rights issue of bonds and warrants to raise as much as US$1.2 billion.
Kewalram Chanrai Group, Olam's largest investor with nearly a 20 per cent stake, has also said it will back the issue.
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Temasek Boosts Olam Stake to 19%, Says Attractive Long Term - Bloomberg
http://www.bloomberg.com/news/2012-...am-stake-to-19-says-attractive-long-term.html
(<cite class="byline">By Michelle Yun - Dec 28, 2012 2:14 PM GMT+0800</cite>)
Temasek Holdings Pte, Singapore’s state-owned investment company, boosted its stake in Olam International Ltd. (OLAM) by another percentage point in the past week after saying the commodity trader is an attractive long-term investment.
Two units controlled by Temasek bought around 24 million shares between Dec. 20 and today, lifting its deemed interest to 19 percent from 18 percent, according to an Olam filing. One purchase of 100,000 shares was made on the market today, the filing said.
Temasek, Olam’s second-biggest shareholder, last week raised its stake from 16 percent to 18 percent, saying that it’s “pleased” to have the opportunity to add to its holdings. Olam “represents a reasonably attractive investment over the long term,” it said. Temasek earlier this month backed Olam’s proposed bond offering, agreeing to buy any rights not taken up by other investors.
Temasek referred to its earlier comments on Olam in an e- mailed response to queries today.
Jim Rogers, chairman of Rogers Holdings, plans to take part in the offering, according to a report today in The Straits Times newspaper. Rogers’s stake in Olam is “quite small,” the report said. Rogers didn’t respond to an e-mail seeking comment.
Shares in Olam rose as much as 2.6 percent before trading 1.3 percent higher at S$1.545 as of 1:27 p.m. in Singapore. They have slumped 11 percent since Nov. 19, the day short-seller Carson Block questioned the company’s liquidity and accounting practices at a London conference.
Kewlram Singapore Ltd., which owns 20 percent of Olam as its biggest shareholder, also said it will support the offering of $750 million in bonds and as much as $500 million in warrants.
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http://info.sgx.com/webcoranncatth....le/28Dec2012-InterestChange_Form3-Temasek.pdf
"On 20, 21 and 28 December 2012, Aranda Investments Pte. Ltd. (“Aranda”) entered into a series of transactions to purchase an aggregate of 3,805,000 voting shares of the Listed Issuer and on 21, 24, 26 and 27 December 2012, Breedens Investments Pte. Ltd. (“Breedens”) entered into a series of transactions to purchase an aggregate of 20,183,000 voting shares of the Listed Issuer, which collectively resulted in the deemed interest of Temasek Holdings (Private) Limited (“Temasek”) increasing from 18% to 19% of the issued voting shares of the Listed Issuer, of which the last transaction to purchase 100,000 voting shares by Aranda is the subject of this notification.
Following the transaction which is the subject of this notification, Temasek has a deemed interest in 454,227,283 voting shares of the Listed Issuer comprising:
i) a deemed interest in an aggregate of 452,856,453 voting shares of the Listed Issuer in which Temasek Capital (Private) Limited ("Temasek Capital") has a deemed interest.
Temasek has a controlling interest in Temasek Capital which, in turn, has a controlling interest in Seletar Investments Pte Ltd (“Seletar”) which, in turn, has a controlling interest in Aranda and Breedens. Aranda holds 121,537,313 voting shares of the Listed Issuer and Breedens holds 331,319,140 voting shares of the Listed Issuer.
Temasek is therefore deemed, pursuant to section 4(4) of the Securities and Futures Act, Chapter 289 (the "SFA"), to have an interest in the 452,856,453 voting shares in which Temasek Capital is deemed to have an interest;
ii) a continued deemed interest in 471,830 voting shares in which DBS Group Holdings Ltd (“DBSH”) has a deemed interest.
Temasek has a more than 20% interest in DBSH (directly and through its subsidiary, Maju Holdings Pte. Ltd.) and DBSH, in turn, has a controlling interest in DBS Bank Ltd. (“DBS Bank”). DBS Bank has a direct interest in 471,830 voting shares of the Listed Issuer. Temasek is therefore deemed, pursuant to section 4(5) of the SFA, to have an interest in the 471,830 voting shares of the Listed Issuer (representing approximately 0.02% of the issued voting shares) in which DBSH is deemed to have an interest; and
iii) a continued deemed interest in 899,000 voting shares as follows:
a. Temasek is the ultimate holding company of Seatown Holdings International Pte Ltd (the “Fund Manager”) which manages a feeder fund (the “Feeder Fund”) and a master fund (the “Master Fund”) (collectively, the “Funds”). The Master Fund has a deemed interest in 899,000 voting shares of the Listed Issuer (the “Shares”) pursuant to section 4(4) of the SFA. The Fund Manager has a deemed interest in the Shares pursuant to section 4(1) of the SFA. As Temasek has an indirect controlling interest in the Fund Manager, Temasek is therefore deemed, pursuant to section 4(4) of the SFA, to have an interest in the Shares in which the Fund Manager has a deemed interest.
b. Temasek has a controlling interest in Seatown GP Pte Ltd (the “General Partner”), the General Partner of the Feeder Fund which in turn has a controlling interest in the Master Fund. Temasek is therefore deemed, pursuant to section 4(4) of the SFA to have an interest in the Shares in which the General Partner has a deemed interest. Temasek has a controlling interest in a limited partner of the Feeder Fund which is deemed to have an interest in the Shares pursuant to regulation 13(5) of the Securities and Futures (Disclosure of Interests) Regulations 2012. Temasek is therefore deemed, pursuant to section 4(4) of the SFA to have a deemed interest in the limited partners’ interests in the Shares.
The percentage of interest above is calculated on the basis of 2,390,213,869 issued voting shares of Olam International Limited as of 30 November 2012"
(Posted: 28 December 2012 1746 hrs)
SINGAPORE: Singapore-listed Olam International said its second-largest shareholder Temasek Holdings has further increased its stake to 19 per cent, from 18 per cent.
This is the third time in a month that the Singapore investment firm had boosted its shareholdings in the commodities group, which has been the target of short-seller Carson Block and his research firm Muddy Waters.
In a filing to the Singapore Exchange on Friday, Olam said Temasek had increased its holdings via two units in open-market purchases.
Earlier this month, Olam said Temasek is backing its rights issue of bonds and warrants to raise as much as US$1.2 billion.
Kewalram Chanrai Group, Olam's largest investor with nearly a 20 per cent stake, has also said it will back the issue.
+++++++++++++++++++++++++++++++++++++++++++++++++++
Temasek Boosts Olam Stake to 19%, Says Attractive Long Term - Bloomberg
http://www.bloomberg.com/news/2012-...am-stake-to-19-says-attractive-long-term.html
(<cite class="byline">By Michelle Yun - Dec 28, 2012 2:14 PM GMT+0800</cite>)
Temasek Holdings Pte, Singapore’s state-owned investment company, boosted its stake in Olam International Ltd. (OLAM) by another percentage point in the past week after saying the commodity trader is an attractive long-term investment.
Two units controlled by Temasek bought around 24 million shares between Dec. 20 and today, lifting its deemed interest to 19 percent from 18 percent, according to an Olam filing. One purchase of 100,000 shares was made on the market today, the filing said.
Temasek, Olam’s second-biggest shareholder, last week raised its stake from 16 percent to 18 percent, saying that it’s “pleased” to have the opportunity to add to its holdings. Olam “represents a reasonably attractive investment over the long term,” it said. Temasek earlier this month backed Olam’s proposed bond offering, agreeing to buy any rights not taken up by other investors.
Temasek referred to its earlier comments on Olam in an e- mailed response to queries today.
Jim Rogers, chairman of Rogers Holdings, plans to take part in the offering, according to a report today in The Straits Times newspaper. Rogers’s stake in Olam is “quite small,” the report said. Rogers didn’t respond to an e-mail seeking comment.
Shares in Olam rose as much as 2.6 percent before trading 1.3 percent higher at S$1.545 as of 1:27 p.m. in Singapore. They have slumped 11 percent since Nov. 19, the day short-seller Carson Block questioned the company’s liquidity and accounting practices at a London conference.
Kewlram Singapore Ltd., which owns 20 percent of Olam as its biggest shareholder, also said it will support the offering of $750 million in bonds and as much as $500 million in warrants.
+++++++++++++++++++++++++++++++++++++++++++++++++
http://info.sgx.com/webcoranncatth....le/28Dec2012-InterestChange_Form3-Temasek.pdf
"On 20, 21 and 28 December 2012, Aranda Investments Pte. Ltd. (“Aranda”) entered into a series of transactions to purchase an aggregate of 3,805,000 voting shares of the Listed Issuer and on 21, 24, 26 and 27 December 2012, Breedens Investments Pte. Ltd. (“Breedens”) entered into a series of transactions to purchase an aggregate of 20,183,000 voting shares of the Listed Issuer, which collectively resulted in the deemed interest of Temasek Holdings (Private) Limited (“Temasek”) increasing from 18% to 19% of the issued voting shares of the Listed Issuer, of which the last transaction to purchase 100,000 voting shares by Aranda is the subject of this notification.
Following the transaction which is the subject of this notification, Temasek has a deemed interest in 454,227,283 voting shares of the Listed Issuer comprising:
i) a deemed interest in an aggregate of 452,856,453 voting shares of the Listed Issuer in which Temasek Capital (Private) Limited ("Temasek Capital") has a deemed interest.
Temasek has a controlling interest in Temasek Capital which, in turn, has a controlling interest in Seletar Investments Pte Ltd (“Seletar”) which, in turn, has a controlling interest in Aranda and Breedens. Aranda holds 121,537,313 voting shares of the Listed Issuer and Breedens holds 331,319,140 voting shares of the Listed Issuer.
Temasek is therefore deemed, pursuant to section 4(4) of the Securities and Futures Act, Chapter 289 (the "SFA"), to have an interest in the 452,856,453 voting shares in which Temasek Capital is deemed to have an interest;
ii) a continued deemed interest in 471,830 voting shares in which DBS Group Holdings Ltd (“DBSH”) has a deemed interest.
Temasek has a more than 20% interest in DBSH (directly and through its subsidiary, Maju Holdings Pte. Ltd.) and DBSH, in turn, has a controlling interest in DBS Bank Ltd. (“DBS Bank”). DBS Bank has a direct interest in 471,830 voting shares of the Listed Issuer. Temasek is therefore deemed, pursuant to section 4(5) of the SFA, to have an interest in the 471,830 voting shares of the Listed Issuer (representing approximately 0.02% of the issued voting shares) in which DBSH is deemed to have an interest; and
iii) a continued deemed interest in 899,000 voting shares as follows:
a. Temasek is the ultimate holding company of Seatown Holdings International Pte Ltd (the “Fund Manager”) which manages a feeder fund (the “Feeder Fund”) and a master fund (the “Master Fund”) (collectively, the “Funds”). The Master Fund has a deemed interest in 899,000 voting shares of the Listed Issuer (the “Shares”) pursuant to section 4(4) of the SFA. The Fund Manager has a deemed interest in the Shares pursuant to section 4(1) of the SFA. As Temasek has an indirect controlling interest in the Fund Manager, Temasek is therefore deemed, pursuant to section 4(4) of the SFA, to have an interest in the Shares in which the Fund Manager has a deemed interest.
b. Temasek has a controlling interest in Seatown GP Pte Ltd (the “General Partner”), the General Partner of the Feeder Fund which in turn has a controlling interest in the Master Fund. Temasek is therefore deemed, pursuant to section 4(4) of the SFA to have an interest in the Shares in which the General Partner has a deemed interest. Temasek has a controlling interest in a limited partner of the Feeder Fund which is deemed to have an interest in the Shares pursuant to regulation 13(5) of the Securities and Futures (Disclosure of Interests) Regulations 2012. Temasek is therefore deemed, pursuant to section 4(4) of the SFA to have a deemed interest in the limited partners’ interests in the Shares.
The percentage of interest above is calculated on the basis of 2,390,213,869 issued voting shares of Olam International Limited as of 30 November 2012"
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