Jun 2017 Financial News

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

Jun 01, 2017

NOTICE TO SHAREHOLDERS

FURTHER INCREASE IN SHAREHOLDING OF TRINIDAD CEMENT LIMITED (“TCL/COMPANY”) IN READMIX (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”) AND THE “MOP-UP” PROVISIONS UNDER THE TAKE-OVER BY-LAWS

TCL hereby advises that, as at May 29, 2017, it has acquired more than 90% of the outstanding ordinary shares in Readymix (not including shares held by TCL at the date of the Offer) pursuant to shares taken up under the Offer and acquisitions made on the same terms and conditions thereof on the Trinidad and Tobago Stock Exchange (“TTSE”) under the “mop-up” provisions in By-Law 8(3) of the Securities Industry (Take-Over) By-Laws, 2005 (the “By-Laws”).

Prior to the commencement of the Offer, TCL held 8,531,977 ordinary shares. The number of ordinary shares acquired to date pursuant to the Offer and to the acquisitions by TCL on the TTSE, amount to 3,136,009 ordinary shares, which in aggregate, amounts to approximately 97.23% of the outstanding ordinary shares in Readymix.

In accordance with the obligations of TCL under Take-Over By-Law 26 and Section 202 of the Companies Act Ch. 81 No. 01, TCL intends to issue a notice to all remaining holders of ordinary shares in Readymix advising them of their statutory rights and exercising its statutory right to compulsorily acquire all outstanding shares in Readymix.

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
Thursday June 1, 2017