Mar 2017 Financial News

Readymix (West Indies) Limited - Notice of Trinidad Cement Limited Take-Over Bid Offer

Mar 31, 2017

Notice to Shareholders

Readymix (West Indies) Limited (“RML”) hereby advises that on Friday, March 24, 2017 (“Offer Date”), the Company was presented with an Offer and Take-Over Bid Circular of even date, issued by the Board of Directors of Trinidad Cement Limited (“TCL”). TCL is the majority shareholder of RML, owning 8,531,977 Ordinary Shares or 71.1% of the 12,000,000 issued and outstanding Ordinary Shares as at the Offer Date.

An offer and take-over bid (“the Offer”) is being made by TCL to acquire for cash all of the issued and outstanding Ordinary Shares in RML, not already held by TCL, at a price of TT$11.00, or US$1.62, per Ordinary Share. Shareholders may elect to receive payment in either TT$ (based on a price of TT$11.00 per issued Ordinary Share), or in US$ (based on a price of US$1.62 per issued Ordinary Share).

The Offer was issued via a Take-Over Offer Circular, which was mailed to shareholders on Monday, March 27, 2017. Unless extended, the Offer period is expected to close on Monday, May 01, 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 March 31, 2017