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Olam International's CEO Sunny Verghese supports counter with share purchase

Published on Nov 30, 2012 3:07 PM
 
Olam International's chief executive officer Sunny Verghese has shown his support for the troubled firm with a purchase of one million Olam shares on Friday. -- BT FILE PHOTO

Olam International's chief executive officer Sunny Verghese has shown his support for the troubled firm with a purchase of one million Olam shares today.

This purchase is his first since allegations of dodgy accounting practices surfaced nearly two weeks ago. He paid $1.54 a share.

Board directors Michael Lim and Robert Tomlin also weighed in on Thursday to buy shares. Mr Tomlin bought 200,000 at $1.55 apiece while Mr Lim paid $1.545 each for 200,000 shares.