CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE:CX) announced today that as a
result of the application of retained earnings for a capital increase
approved by CEMEX’s shareholders at the general ordinary shareholders
meeting held on March 26, 2015, CEMEX shareholders will receive new
shares as follows:
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1 new CEMEX CPO per 25 CEMEX CPOs held, or, if applicable, 3 new
shares per 75 shares currently outstanding.
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Holders of CEMEX American Depositary Shares (“ADS”) will receive 1
newly issued ADS per 25 ADSs held.
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No cash will be distributed by CEMEX, including for fractions for
which no shares are issued.
The delivery of the new CPOs or shares, as applicable, will be made
starting on May 4, 2015. Only holders of record of CEMEX CPOs or ADSs as
of April 30, 2015 (the record date) will receive new shares as a result
of the increase in the capital stock. The new ADSs to be issued will be
distributed on or about May 8, 2015. Each ADS represents 10 CPOs.
As a result of all of the above, the conversion rate of CEMEX’s optional
convertible subordinated notes due 2016 and 2018 (the “2016 and 2018
Convertible Notes”), CEMEX’s optional convertible subordinated notes due
2020 (the “2020 Convertible Notes”), as well as CEMEX’s mandatory
convertible obligations due 2019 (the “2019 Convertible Notes”) will be
adjusted accordingly. The new conversion rate for the 2016 and 2018
Convertible Notes will be 107.8211 ADSs per U.S.$1,000 principal amount
of 2016 and 2018 Convertible Notes, equivalent to a conversion price of
approximately U.S.$9.2746 per ADS. The new conversion rate for the 2020
Convertible Notes will be 84.0044 ADSs per U.S.$1,000 principal amount
of 2020 Convertible Notes, equivalent to a conversion price of
approximately U.S.$11.9041 per ADS. The new conversion rate for the 2019
Convertible Notes will be 470.6987 CPOs per each convertible obligation,
equivalent to a conversion price of approximately MXN$18.9081 per CPO.
The subscription price is MXN$15.2344 per new CEMEX CPO. The shares will
be subscribed for at a price of MXN$5.0781 per share, of which
MXN$0.00277661 will go to our capital stock and the remaining amount
will be treated as premium for the subscription of capital, and will be
deemed fully paid by a capitalization of retained earnings. CEMEX
shareholders will not be required to pay any consideration in connection
with the issuance of the shares.
This press release contains forward-looking statements and
information that are necessarily subject to risks, uncertainties, and
assumptions. CEMEX assumes no obligation to update or correct the
information contained in this press release.
Copyright Business Wire 2015