Deal #2236 Version #57364

Area dedicated to HCV forest and buffer zone- 12 482ha.

Olam Palm Gabon has entered into a sale of long term lease rights of land and a sale and lease-back of plantation and milling assets, comprising 20,030 hectares of total land area in Awala, Gabon for a cash consideration of US$130.0 million with YCAP Asset Management (“YCAP”). Under this agreement, YCAP holds the rights to the long term leases on the land. The agreement is valid for a period of 18 years, extendable for another three years at the request of either party. OPG retains the right to operate the palm plantation and mill in Awala and will therefore continue to participate in the production economics of the palm plantation without the asset intensity - see more at: http://olamgroup.com/news/olam-palm-gabon-enters-sale-long-term-lease-rights-land-sale-lease-back-plantation-milling-assets-awala-us130m/#sthash.QATp3sg6.dpuf

planting palms is expected to commence in early 2012 and be completed by 2016. Clearing of secondary forest in the Kango plantation had taken place by the end of April 2012. Another data sources mentions planting started in 2011.

Olam claims that it will pay a lease rent of CFA Franc 5,000 (US$10) per hectare from the 17th year. The first 16 years are free. (company source)