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Carib Cement Announces Delay Payment of Salaries

Caribbean Cement Company Ltd has advised that due to the present constraint with its cash flow, the company has had to delay the payment of salaries to monthly paid employees.  These salaries will be paid on August 28th and not August 25th as is the norm.

According to Caribbean Cement this is an isolated incident and is not expected to recur. Carib Cement is facing the same hardship that most businesses are, that is, a reduction in revenue, reduction in sales and challenges with collections. Like many in the economy, we have to manage our cash flow, and had to do a balancing act of keeping the plant in operation and at the same time satisfying all our suppliers.

Based on the foregoing the company anticipates that this has caused no material injury to the Company and will have no adverse effects on shareholders.