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_609342323
December 24, 2025   A.S. Bryden & Sons Holdings Limited (ASBH) has declared a dividend of TT$0.01323 per share to shareholders on recor…
shutterstock_453968572
December 24, 2025   General Accident Insurance Company Jamaica Limited (GENAC) has advised that the meeting to consider and recommend a div…
shutterstock_453968572
December 24, 2025   Kingston Properties Limited (KPREIT) has advised that it has completed the acquisition of its third property in the Uni…
shutterstock_453968572
December 24, 2025   R.A. Williams Distributors Limited (RAWILL) has advised that on December 15, 2025, the Board of Directors received and …
shutterstock_148562033
December 24, 2025   Pan Jamaica Group Limited (PJAM) has advised that a senior officer sold a total of 825 PJAM shares during the period De…
MIL
December 24, 2025 Mayberry Jamaican Equities Limited (MJE) has advised that the daily Net Asset Value (NAV) for December 23, 2025, was J$8.18. MJE’…
shutterstock_453968572
December 24, 2025   United States: Japan and US Agree to Expedite $550 Billion Investment Projects   Japan and the United States …
MIL
December 23, 2025 Mayberry Jamaican Equities Limited (MJE) has advised that the daily Net Asset Value (NAV) for December 22, 2025, was J$8.20. MJE’…