Special Advisory & Board Resignation:
Fallback Logo

Trinidad Cement Limited (TCL) has advised that Mr. Wayne Yip Choy has resigned as a Director effective February 9, 2017. TCL further advised that Sierra Trading (‘Sierra’), an indirect subsidiary of Cemex, S.A.B. de C.V. (‘CEMEX’) (NYSE: CX), announced that its Offer and Take-Over Bid dated December 5th, 2016, (as amended on January 9th, 2017) (the “Offer”)  was closed in Jamaica at 2.00 p.m. on Tuesday, February 7, 2017. At the time of closing, the number of TCL Shares tendered in Jamaica in response to the Offer was 4,116,516. Sierra will accept and pay for all TCL Shares validly tendered. The Offer closed in Trinidad and Tobago on January 24, 2017 and in Barbados on February 8, 2017. The number of TCL Shares tendered and accepted in those countries was as follows:
(a) Trinidad & Tobago      =109,402,694
(b) Barbados                      = 111,513            
The total number of TCL Shares tendered and accepted in response to the Offer is therefore 113,630,723 which, together with Sierra’s pre-existing shareholding in TCL (147,994,188), represent approximately 69.83% of the outstanding TCL shares. Based on the current tally, the total consideration to be paid by Sierra for the TCL shares taken up pursuant to the Offer will be approximately US$83.6 million. Payment in respect of TCL shares taken up by Sierra is expected to be made in Jamaica on or before February 21st, 2017 at the rate of TT$5.07 or US$0.76 or the Jamaican currency equivalent of TT$5.07, depending on the currency option selected by TCL shareholders in Jamaica.   

More Stories from the Market
shutterstock_453968572
April 9, 2026 United States: US Consumer Spending Barely Rose, Inflation Lingered Pre-War   US consumer spending barely rose in February …
shutterstock_453968572
April 8, 2026   Seprod Limited (SEP) has advised of the retirement of Mr. Dale Wiest, General Manager of Jamaica Grain and Cereals Limited …
shutterstock_148562033
April 8, 2026   Massy Holdings Ltd. (MASSY) has advised of the following connected party transactions: purchase of 3,740,213 MASSY sha…
shutterstock_316932977-700x441
April 08, 2026 A staff team from the International Monetary Fund recently concluded a virtual mission to Haiti to assess progress under the country…
shutterstock_556282549
April 08, 2026 Economic growth in Latin America and the Caribbean is projected to moderate in the near term, reflecting a challenging global and re…
shutterstock_367343003
April 08, 2026 Net International Reserves – March 2026 BOJ has reported that Jamaica’s Net International Reserves as at March 31, 2026, stood at…
shutterstock_453968572
April 8, 2026 United States: US and Iran Agree to Ceasefire, Easing Energy-Crisis Fears   The US and Iran agreed to a two-week cease…
shutterstock_148562033
April 7, 2026   Jetcon Corporation Limited (JETCON) has advised that a connected party purchased a total of 50,000 JETCON shares during the…