CEMEX Decides Not to Pursue Capital Increase Proposal as Previously Announced, at Upcoming Extraordinary Shareholders Meeting
March 22 2018 - 7:02PM
Business Wire
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that
it will not pursue the proposal to authorize an up to 3.75bn CPOs
capital increase at the extraordinary general shareholders meeting
scheduled to take place on April 5, 2018, as had previously been
announced.
This decision follows discussions with a wide range of CEMEX
shareholders and reflects the feedback received.
“As we discussed on CEMEX Day, our management team’s priority is
to achieve an investment grade capital structure, as the foundation
of our value creation strategy” said CEO Fernando Gonzalez. “We are
highly focused on our long-term strategic objective of maximizing
shareholder value. After listening to the feedback from our
shareholders, we have decided not to pursue the 3.75bn CPO capital
increase that had been proposed. We will continue focusing on
implementing our stated strategy.”
The decision demonstrates management’s commitment to maintaining
a constructive and responsive dialogue with our investors. CEMEX’s
board of directors and management are highly focused on
accountability to shareholders and on creating long term
shareholder value.
In order to implement this change, and taking into account the
applicable legal framework, CEMEX will place a cap on the proposal
at its extraordinary general shareholders meeting, such that if the
proposal is approved, any share issuance pursuant to the approval
will be limited to no more than 1% of CEMEX’s currently outstanding
shares.
CEMEX is a global building materials company that provides
high-quality products and reliable services to customers and
communities in more than 50 countries. CEMEX has a rich history of
improving the well-being of those it serves through innovative
building solutions, efficiency advancements, and efforts to promote
a sustainable future.
For more information, please visit: www.cemex.com.
This press release contains forward-looking statements and
information that are necessarily subject to risks, uncertainties,
and assumptions. No assurance can be given that the transactions
described herein will be consummated or as to the final terms of
any such transactions. CEMEX assumes no obligation to update or
correct the information contained in this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20180322006360/en/
CEMEX, S.A.B. de C.V.Media RelationsJorge Perez, +52(81)
8888-4334mr@cemex.comorInvestor RelationsEduardo Rendon,
+52(81) 8888-4256ir@cemex.comorAnalyst RelationsLucy
Rodriguez, +1(212) 317-6007ir@cemex.com
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