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P a g e
TRINIDAD CEMENT LIMITED
SECTION 1: KEY INFORMATION
(Continued)
1.2.3 Purpose of the Offer and Use of Proceeds
The Company estimates that the net proceeds from this Rights Issue will be approximately
$354,365,776.20 after deducting the Company’s estimated transaction expenses and restructuring fees.
The Company intends to use the gross proceeds from the Offer in the following priority:
i.
Restructuring and transaction expenses
ii.
Replenishment of working capital (settlement of long outstanding payable balances including
amounts due to employees)
iii.
Debt Service
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and
iv.
Invest in capex.
The allocation of the gross proceeds of the Offer is shown in the following table.
$
Restructuring and transaction expenses
7,793,671.00
Working Capital
150,000,000.00
Debt Service
3
63,565,776.20
Capex investments
140,800,000.00
Gross Proceeds of the Offer
362,159,447.20
1.3
TIMETABLE
The following key dates with regards to the distribution should be noted:
Activity
Time /Date
Ex-Rights Date
5 February 2015
Record Date for Entitlement to participate in the Rights Issue
9 March 2015
Opening Date and Time of the Offer
9:00 am, 10 March 2015
Rights Issue Offer Document and Entitlement and Acceptance Form
dispatched to Shareholders
10 March 2015
Latest time and date for acceptance and payment in Full
4:00 pm, 31 March 2015
Closing Date and Time of the Offer
4:00 pm, 31 March 2015
Issue of New Shares under the Rights Issue entered into holders’ security
holdings
7 April 2015
Commencement date for dealings in New Shares
9 April 2015
The Offer will open on 10 March 2015 at 9:00 am and will close at 4:00 pm on 31 March 2015 or such later
date or time as may be decided in the discretion of the Directors, but in any event no later than 1 year and
20 days after the date of the receipt for the Information Memorandum in keeping with section 83(4) of the
SA.
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Outstanding borrowings under the Override Agreement bear interest at a weighted average effective interest rate of 11.9% as of
31 December 2014 and mature in 2018.
