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Financial News

Apr 2012 Financial News

TCL - Request for an extension of the deadline for submission of 2011 Financial Statements

Apr 04, 2012

Trinidad Cement Limited has applied for a two week extension on the 90 day time limit required by the Exchange’s Listing Rules for submission of the audited financial statements of Trinidad Cement Limited (TCL) and Readymix (West Indies) Limited (RML) for the year ended December 31st 2011.

The TCL Group has been involved in a debt restructuring exercise which is currently in the documentation and final approval stage. It was expected that this process would be completed by March 28th, 2012. There has, however, been a delay in the process and it is now expected that within the next two weeks, the outstanding issues will be resolved. In this regard, the Group’s external Auditors have indicated that they would wish to have the Debt Restructuring Agreements executed before they sign off on their audit opinion. Accordingly, an extension would be necessary.


Source:
The Trinidad and Tobago Stock Exchange LImited
Wednesday April 4, 2012