Jan 2017 Financial News

Readymix (West Indies) Limited - Change in Majority Share Ownership of Parent Company TCL

Jan 27, 2017

Readymix (West Indies) Limited ("RML") hereby wishes to inform all Stakeholders that, subsequent to its Notice published on January 13, 2017, regarding a Notice of Change and Variation on the Offer and Take-Over Bid ("the Offer") issued to its parent company, Trinidad Cement Limited ("TCL") by Sierra Trading ("Sierra"), an indirect subsidiary of Cemex, S.A.B. de C.V., the Board of Directors of TCL has been advised by Sierra that as at January 25, 2017, the tally of TCL shares deposited by shareholders in response to the Offer was approximately 114,313,299 TCL shares (subject to verification of validity of all acceptances received) which, together with Sierra's ,existing shareholding in TCL, represents approximately 70.01% of the outstanding TCL shares. The approximate total consideration to be paid by Sierra for the TCL shares deposited pursuant to the Offer is US$86,878,107.24.

Pursuant to Regulation 16 (3) of the Securities (Take-overs and Mergers) Regulations, 1999 of the laws of Jamaica, given that the Offer was declared unconditional on January 24, 2017, the Offer will remain open until February 7, 2017 for TCL shareholders in Jamaica. This automatic extension may further increase Sierra's shareholding in TCL and the consideration to be paid by Sierra. However, Sierra's shareholding in TCL will not exceed 74.9%.

After the closing of the Offer in Jamaica on February 7, 2017, a further notice will be issued advising of Sierra's final shareholding in TCL.

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

Source:
The Trinidad and Tobago Stock Exchange Limited
Friday January 27, 2017