Caribbean Cement Company Limited (CCC) – MOU with Trinidad Cement Limited

0July 10, 2018

Caribbean Cement Company Limited (CCC) has advised that on July 6, 2018, pursuant to the Memorandum of Understanding CCC entered into with Trinidad Cement Limited (TCL) dated March 16, 2018, it signed a preference share redemption agreement with TCL for the redemption of an aggregate number of 52 million preference shares that are held by TCL that were issued by CCC on 2010 and 2013.

CCC states that the aggregate amount of the consideration to be paid by CCC to TCL is of USD$40.5 million, which reflects a below par value amount and is to be paid on a yearly basis starting in the current 2018 calendar year and that in compliance with applicable laws, the amounts to be paid by CCC to TCL are to be sourced from at least 1/3 (one third) of CCC annual profits, if any, which would otherwise be available for distribution. This fraction shall be increased to at least 2/3 (two thirds) of CCC annual profits available for distribution in case any preference shares held by TCL remain outstanding after the scheduled partial redemption payment during the 2026 calendar year.

More Stories from the Market
shutterstock_453968572
January 23, 2026   Guardian Holdings Limited (GHL) has advised that Mr. Bruce Bowen has resigned as Director of Guardian Holdings Limited e…
shutterstock_453968572
January 23, 2026   United States:   US Consumers Keep Spending Faster Than Incomes Are Growing   US income growth is running furth…
shutterstock_453968572
January 22, 2026   Kintyre Holdings (JA) Limited (KNTYR) has advised that The Chalet, its signature residential development planned for Ben…
shutterstock_453968572
January 22, 2026   NCB Financial Group Limited (NCBFG) has advised that Mr. Bruce Bowen has resigned as director of NCBFG and all relevant …
shutterstock_453968572
January 22, 2026 United States:   US Economy Expanded at Revised 4.4% Pace in Third Quarter   The US economy expanded in the third quarter…
shutterstock_453968572
January 21, 2026   Wigton Windfarm Limited (WIG) has advised that it has successfully concluded the sale of its property located at Lot 28 …
shutterstock_342262439
January 21, 2026   Wigton Windfarm Limited (WIG) has advised that at a meeting of its Board of Directors to be held on January 29, 2026, a …
shutterstock_453968572
January 21, 2026 United States:   US Home-Purchase Applications Climb to Highest Since 2023   US mortgage applications for home purch…