Trinidad Cement Limited (TCL) has advised that on December 05, 2016, its Board of Directors was presented with an Offer and Take-Over Bid Circular of even date, issued by CEMEX, S.A.B. de C.V. (“CEMEX”) wherein CEMEX announced that one of its indirect subsidiaries, Sierra Trading (“Sierra”), has made an offer and take-over bid (the “Offer”) to all shareholders of TCL to acquire up to $132,616,942 ordinary shares in TCL at a price of TT$4.50 in cash per TCL share. Sierra currently holds 39.5 % of TCL’s issued share capital and the Offer, if fully subscribed, will result in Sierra holding not more than 74.9% of the issued and outstanding ordinary shares in TCL.
Unless extended, the Offer period is expected to close on January 10, 2017.
A notice regarding this Offer and Take-Over Bid, will be published in the print media in Trinidad and Tobago, Barbados and Jamaica and posted on the Group’s website (www.tclgroup) from Thursday, December 8, 2016.