May 2017 Financial News

Readymix (West Indies) Limited - Change in Majority Share Ownership of RML

May 19, 2017

UPDATE – INCREASE IN MAJORITY SHAREHOLDING VIA OFFER AND TAKE-OVER BID ISSUED BY TRINIDAD CEMENT LIMITED (“TCL”) IN READYMIX (WEST INDIES) LIMITED (“RML”)

Further to its Notice published on May 04, 2017, regarding the number of Ordinary Shares deposited by RML Shareholders in response to TCL’s Offer and Take-Over Bid (“Offer”) and the intention by TCL to take up all shares deposited, having been advised by TCL that all terms and conditions of the Offer were compiled with or waived and that the requisite Foreign Investment License was received from the Ministry of Finance, RML now wishes to advise that it has received the following additional information from TCL:-

• The validation of all acceptances by the Trinidad and Tobago Central Depository and First Citizens Brokerage and Advisory Services Limited has since been completed, and the number of RML shares tendered in response to the Offer has now been revised.
• As at May 15, 2017, the final tally of Ordinary Shares deposited by RML Shareholders in response to the Offer was 1,558,802 Ordinary Shares, which, together with TCL’s existing shareholding in RML (71.1%), represents approximately 84.1% of the outstanding Ordinary Shares.
• The total consideration paid by TCL for the Ordinary Shares deposited pursuant to its Offer was US$1,429,274.68 and TT$7,449,458.00.

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 May 19, 2017