Namoi Cotton (ASX:NAM) takeover offers update

Namoi Cotton Limited (ASX:NAM) received the 5th Supplementary Bidder's Statement from Olam Agri Australia Pty Ltd today. The increased offer from Olam and their engagement with ACCC for regulatory approval are under consideration by the Independent Directors. An update on the recommendations regarding the offers from Olam and Louis Dreyfus Company Melbourne Holdings Pty Ltd will be provided to the market in due course.

Executive Commentary on Takeover Offers

The Independent Directors of Namoi Cotton Limited are carefully evaluating the updated offers from Olam and Louis Dreyfus Company Melbourne Holdings Pty Ltd. The consideration includes Olam's increased offer and their progress with the ACCC for regulatory approval. We will provide further updates to the market as the review progresses.

Summary of Takeover Offers Update

Namoi Cotton Limited (ASX:NAM) has received the 5th Supplementary Bidder's Statement from Olam Agri Australia Pty Ltd, which includes an increased offer and an update on their engagement with the ACCC for regulatory approval. The Independent Directors are reviewing the offers from Olam and Louis Dreyfus Company Melbourne Holdings Pty Ltd and will provide further recommendations to the market in due course. Sarah Scales, Louis Dreyfus Company Asia Pte Ltd's appointed nominee to the Namoi Board, will abstain from making a recommendation to shareholders due to the competing LDC Offer and her association with LDC. The company is committed to keeping the market informed as the review progresses.