May 2017 Financial News

Trinidad Cement Limited - Increase in Shareholding in Readymix (West Indies) Limited

May 19, 2017

UPDATE – INCREASE IN SHAREHOLDING OF TRINIDAD CEMENT LIMITED (“TCL”) IN READYMIX (WEST INDIES) LIMITED (“READYMIX”) VIA THE OFFER AND TAKE-OVER BID ISSUED BY TCL FOR READYMIX DATED MARCH 27, 2017, AS AMENDED ON MARCH 31, 2017 (“OFFER”)

On May 02, TCL announced that is Offer was successful with all terms and conditions of the Offer having been complied with or waived and confirming receipt of the requisite Foreign Investment License from the Ministry of Finance.

Since that announcement, the validation of all acceptances by the Trinidad and Tobago Central Depository and First Citizens Brokerage and Advisory Services Limited has been completed, and the number of Readymix shares tendered in response to the Offer has been revised. TCL wishes to advise as follows:

1. As at May 15, 2017, the final tally of Ordinary Shares deposited by Readymix Shareholders in response to the Offer was 1,558,802 Ordinary Shares which, together with TCL’s existing shareholding in Readymix (71.1%), represents approximately 84.1% of the outstanding Ordinary Shares.
2. 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.

TCL wishes to thank all Readymix Shareholders who took part in the Offer as well as the other Readymix Shareholders who have expressed confidence in the TCL Group by choosing to continue to be a part of the TCL Group’s future.

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