61 |
P a g e
TRINIDAD CEMENT LIMITED
SECTION 9: OTHER INFORMATION
9.1
SHAREHOLDING OF MAJOR SHAREHOLDERS
SHAREHOLDING AS AT
DECEMBER 31, 2012
SHAREHOLDING AS AT
DECEMBER 31, 2013
SHAREHOLDING AS AT
DECEMBER 31, 2014
No.
%
No.
%
No.
%
Sierra Trading
49,953,027
20.00%
49,953,027
20.00%
49,953,027
20.00%
Republic Bank Limited
28,311,293
11.34%
27,629,386
11.06%
27,373,369
10.96%
National Insurance Board
25,367,032
10.16%
25,367,032
10.16%
25,367,032
10.16%
Sierra Trading is an indirect wholly-owned subsidiary of CEMEX that is incorporated under the laws of the
Cayman Islands, but which holds its administrative seat in The Netherlands.
Note: Neither the Company’s Directors nor its major shareholders have different voting rights.
9.2 RELATED PARTY TRANSACTIONS
The TCL Group has entered into related party transactions, with respect to the purchase and sale of product
with CEMEX. These transactions were done on an arm's length basis
6
. The following schedule reflects the
transactions for the past three fiscal years:
TT$ 000s
2014
2013
2012
Related Party Transactions
Sales
2,343
492
-
Purchases
19,487
13,648
31,191
Trade receivable
715
435
-
Trade payable
5,647
-
-
9.3 MATERIAL LITIGATION/ CLAIMS
From time to time, the Company is subject to various claims and litigation brought by employees,
customers and other third parties for, among other matters, personal injuries, property damage and product
defects that have, or allegedly have, resulted from the conduct of the Company’s operations. As a result of
these types of claims and litigation, the Company must periodically evaluate the probability of damages
being assessed against the Company and the range of possible outcomes. In each reporting period, if the
Company determines that the likelihood of damages being assessed against the Company is probable and if
it believes it can estimate a range of possible outcomes, then the Company will record a liability. The
amount of the liability will be based upon a specific estimate, if the Company believes a specific estimate
to be likely, or it will reflect the low end of its range of possible outcomes. Litigation is subject to inherent
uncertainties, and unfavorable rulings may occur.
.
Transactions were done on a market value basis
