Dec 2015 Financial News

Trinidad Cement Limited - Dissolution of TCL Service Limited

Dec 11, 2015

Notice to Stakeholders

Trinidad Cement Limited (“TCL”) wishes to advise of the dissolution of one of its wholly owned subsidiaries – TCL Service Limited – a company incorporated in 1999 under the Nevis Business Corporation Ordinance, 1984. TCL Service Limited was a financial holding company which had been inactive for the past ten (10) years.          

TCL Service Limited was one of the guarantors under the Credit Agreement between TCL and its Lenders; however, such dissolution is permitted under the said Credit Agreement, provided that assets of the guarantor are distributed to the borrower or another guarantor. By resolution dated November 03, 2015, TCL, as sole shareholder, resolved that the Company be dissolved. The dissolution took effect on December 08, 2015 and upon dissolution, the assets of TCL Service Limited were distributed to TCL.

The dissolution of TCL Service Limited will result in cost savings and will serve to simplify the corporate structure of the TCL Group.

This Notice is published pursuant to Section 64(1)(b) of the Trinidad and Tobago Securities Act, 2012.

Source:
The Trinidad and Tobago Stock Exchange Limited
Friday December 11, 2015