Eng - IOI Group

notestothefinancialstatements cont’d41 SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR41.1 Requotation of Palmco Holdings BerhadOn 10 October 2002, the Company acquired 23,738,316 ordinary shares of RM1.00 each in Palmco HoldingsBerhad ("Palmco Shares") from Servitel Development Sdn Bhd, a subsidiary of Sime Darby Berhad (“Sime”) fora cash consideration of RM109,196,253.60 or RM4.60 per share.During the previous financial year, the Company proposed the Capital Distribution and placementarrangements of the Palmco Shares which might otherwise be received under the Capital Distribution byshareholders of the Company who were not deemed as public shareholders under the Kuala Lumpur StockExchange’s Listing Requirements ("Placement Arrangements"). The Capital Distribution and PlacementArrangements were completed on 31 October 2002.With the acquisition of Palmco Shares from Sime and the completion of Capital Distribution and PlacementArrangements, Palmco Shares were requoted on 8 November 2002.41.2 Acquisition of the Entire Business of Loders CroklaanOn 31 August 2002, the Company entered into an agreement to acquire a 100% interest in Loders CroklaanB. V. and the related businesses located in United States, Canada and Egypt (collectively called “LodersCroklaan”) from Unilever Group for a total cash consideration of EUR217 million.Loders Croklaan is one of the leading global suppliers of specialty oils and fats to the food sector. It has along-standing tradition of quality and innovation and has pioneered products and applications in its coresnack ingredients business. It is also in the development of the potentially high growth area of nutritionallipid and operates a small special product unit trading in both food and animal feed ingredients.The acquisition was completed on 30 November 2002.IOI Corporation BerhadAnnual Report 2003208