Special Advisory: Trinidad Cement Limited (TCL)

Trinidad Cement Limited (TCL) has submitted a Supplemental Directors’ Circular dated January 19, 2017 in respect of the Amended Offer made by Sierra Trading to purchase up to 132,616,942 ordinary shares so as to result in Sierra Trading holding not more than 74.9% of the issued and outstanding shares of TCL at a cash price of TT $5.07 per ordinary share. The Amended Offer has an option for the shareholders in Trinidad & Tobago and in Jamaica to receive payment in the currency of the USA at the rate of US$0.76 per share unit, and for shareholders in Barbados to be paid in cash in the currency of Barbados in an amount equivalent to TT$5.07 per share.