About Us - Press Release - 96.9% of shareholders to receive CPOs or ADSs under CEMEX's stock dividend program
June 4, 2008
CEMEX, S.A.B. de C.V. (NYSE: CX) announced today the completion of its stock dividend program determined at the Shareholders Meeting on April 24, 2008. A total of 283,981,781 CPOs, including CPOs in the form of ADSs (one ADS represents ten CPOs), were issued on June 4, 2008 and will be distributed to 96.9% of shareholders; the remaining 3.1%, consisting of CPO holders, will receive a cash payment of MXP 0.867774 per CPO in lieu of the stock dividend, for a total of approximately MXP 213.7 million (US$20.6 million) to be paid by CEMEX.
Under this stock dividend program, CEMEX shareholders will receive one new CPO for each 27.572516 CPOs held (each representing two series A shares and one series B share) and ADS holders will receive one new ADS for each 27.572516 ADSs held.
As previously announced, CPO holders had the option to receive a cash payment in lieu of the stock dividend. ADS holders were entitled to receive a stock dividend only. ADS holders could instruct the ADS Depositary to sell all or a portion of the additional stock received as a result of the stock dividend into the market and receive the net cash proceeds from such sales.
CEMEX is a growing global building materials company that provides high quality products and reliable service to customers and communities in more than 50 countries throughout the world. CEMEX has a rich history of improving the well-being of those it serves through its efforts to pursue innovative industry solutions and efficiency advancements and 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. 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, weather conditions, 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.