Dec 2016 Financial News

Readymix (West Indies) Limited - Notice to Stakeholders - Take Over Bid issued by CEMEX

Dec 09, 2016

Readymix (West Indies) Limited hereby advises that on December 05, 2016, its parent company – Trinidad Cement Limited (“TCL”) was presented with an Offer and Take-Over Bid Circular of even date, issued by CEMEX, S.A.B. de C.V. (“CEMEX”), wherein CEMEX announced that one of its indirect subsidiaries, Sierra Trading (“Sierra”), has made an offer and take-over bid (the “Offer”) to all shareholders of TCL to acquire up to 132,616,942 ordinary shares in TCL at a price  of TT$4.50 in cash per TCL share. Sierra currently holds 39.5% of TCL’s issued share capital and the Offer, if fully subscribed, will result in Sierra holding not more than 74.9% of the issued and outstanding ordinary shares in TCL.

Unless extended, the Offer period is expected to close on January 10, 2017.

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 9, 2016