About Us - Press Release - CEMEX announces non-dilutive equity offering
September 12, 2005
CEMEX, S.A. de C.V. (NYSE: CX) announced today that it intends, subject to market and other conditions, to commence a global public offering of 27 million of its American Depositary Shares (ADSs) plus up to an additional 3.99 million ADSs to cover over allotments, through a Mexican trust created to sell the ADSs in the offering. This transaction will not increase the number of shares outstanding and thus will not dilute existing shareholders. Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. will act as joint bookrunning managers for the offering.
The ADSs are being offered in connection with the unwinding of several forward contracts entered into between certain banks and CEMEX. The proceeds of the sale of the ADSs being offered will be applied against amounts CEMEX is obligated to pay under the forward contracts in respect of the ADSs sold, with remaining amounts payable to CEMEX.
A shelf Registration Statement relating to these securities has been filed with the Securities and Exchange Commission and is effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
The offering is made solely by prospectus. Copies of the prospectus supplement and prospectus, when available, may be obtained from the Prospectus departments of Citigroup Global Markets Inc. or J.P. Morgan Securities Inc. at the following addresses:
Citigroup Global Markets Inc.
J.P. Morgan Securities Inc.
CEMEX is a growing global building solutions company that provides products of consistently high quality and reliable service to customers and communities in more than 50 countries throughout the world. The company improves the well-being of those it serves through its relentless focus on continuous improvement and efforts to promote a sustainable future. For more information, visit www.cemex.com.
This press release contains forward looking statements and information that are necessarily subject to risks, uncertainties and assumptions. The proposed ADS offering is dependent upon market conditions, which are subject to change. In addition, many factors could cause the actual results, performance or achievements of CEMEX to be materially different from those expressed or implied in this release, including, among others, changes in general economic, political, governmental and business conditions globally and in the countries in which CEMEX does business, changes in interest rates, changes in inflation rates, changes in exchange rates, the level of construction generally, changes in cement demand and prices, changes in raw material and energy prices, changes in business strategy and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. CEMEX assumes no obligation to update or correct the information contained in this press release.