Aug 2017 Financial News

Readymix (West Indies) Limited - Notice to Shareholders - East Lake Development Project

Aug 22, 2017

Notice is hereby given that on the 17th day of August 2017, the Board of for Readymix to enter into an agreement for the sale to East Lake Development uate at Tumpuna Road, Guanapo, in the Ward of Arima, comprising 18.9 hectares, being a portion of the lands owned by Readymix, comprising approximately 213 acres.

On the 18th day of August 2017, Readymix entered into the said agreement.

The sale will facilitate the construction of a gated community of 10 multi-family buildings with a total of one hundred and eighty (180) residential condominiums and ninetycomplementary services, and the sale of the Units to third party purchasers together with roads, water, sewerage and drainage systems, and other facilities and amenities, subject to the approval by the Town and Country Planning Division of the Ministry of Planning and Development and/or other competent planning authorities, and all conditions, subject to which such development shall be permitted.

Via a shareholders agreement, Readymix will become a ten percent (10%) shareholder in ELDC. It is intended that the raw materials for the construction of the Units and other facilities will be provided by the TCL Group.

By this project, Readymix, and by extension the TCL Group, is committed to bringing an affordable housing solution to the people of Trinidad and Tobago, and to contributing to the reactivation of our economy.
 

Source:
The Trinidad and Tobago Stock Exchange Limited
Tuesday August 22, 2017