ACQUISITIONS AND DISPOSALS

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Acquisitions and Disposals :: Changes in Company's Interest :: (1) New subsidiaries and (2) Acquisition of additional shares in existing subsidiary

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Name of Announcer *

GOLDEN AGRI-RESOURCES LTD

Company Registration No.

UF 24045G

Announcement submitted on behalf of

GOLDEN AGRI-RESOURCES LTD

Announcement is submitted with respect to *

GOLDEN AGRI-RESOURCES LTD

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Announcement Title * (1) New subsidiaries and (2) Acquisition of additional shares in existing subsidiary
Description The Board of Directors of Golden Agri-Resources Ltd (the "Company" and together with its subsidiaries, the "Group") wishes to announce the following:
(1) New subsidiaries
Incorporation by the Group of two wholly-owned subsidiaries, namely:- (1.1) GP Pakistan (Mauritius) Limited ("GPP"), a company established in the Republic of Mauritius with an initial issued and paid up share capital of US$100 comprising 100 shares of US$1 each fully paid; and (1.2) PT Bina Kreasi Teknologi ("BKT"), a company established in the Republic of Indonesia with an initial issued and paid up share capital of
IDR1,000,000,000 comprising 1,000 shares of IDR1,000,000 each fully paid.
The principal activity of GPP is that of investment holding. The principal activities of BKT are that of investment holding, trading and the provision of services in technology products.
(2) Acquisition of additional shares in existing subsidiary
Straits Investments Ltd ("Straits") became a wholly-owned subsidiary of the Group following the Group's acquisition of 15.69% interest in Straits from Itochu Corporation for a total cash consideration of US$7,000,000 which was arrived at after arm's length negotiation on a willing buyer and willing seller basis.
By Order of the Board
Rafael Buhay Concepcion, Jr. Director
10 January 2014

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10/1/2014

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