About Us - Press Release - CEMEX announces dividend of us$0.0835 per CPO
April 24, 2008
CEMEX, S.A.B. de C.V. (NYSE: CX) shareholders approved at their Annual Shareholders Meeting held today to increase the capital stock of CEMEX in its variable portion by capitalizing retained earnings. This capital increase represents US $0.0835 per CPO at the US dollar / Mexican peso exchange rate determined by the Banco de México for transactions on May 29, 2008. CEMEX's Board of Directors will determine the subscription price at a Board Meeting scheduled for May 29, 2008, taking into account the weighted-average price of all CEMEX CPO transactions on May 29, 2008, reflected in the Bolsa Mexicana de Valores (Mexican Stock Exchange), minus a 20% discount. Once the subscription price is determined, the Board will fix the number of CPOs to be distributed to the shareholders based upon their present holdings.
CPO holders who do not wish to receive the CPO stock dividend can elect to receive a cash payment of US$0.0835 per CPO in lieu of the CPO stock dividend, in pesos at the US dollar / Mexican peso exchange rate determined by the Banco de México for transactions on May 29, 2008. Because the CPO stock dividend will reflect a 20% discount from market, CPO holders who elect the cash dividend may receive substantially less in value than those CPO holders who receive the stock dividend.
The last date to acquire CPOs or ADSs with coupon rights is on May 5, 2008.
Holders of record of CPOs on May 8, 2008 (the record date) will be entitled to receive the CPO stock dividend or they can elect to receive cash in lieu of the stock dividend. ADS holders will be entitled to receive only a stock dividend; however, CEMEX intends to instruct the ADS Depositary to extend to ADS holders the opportunity to sell all or a portion of the additional stock they will receive as a result of the stock dividend into the market and to receive the net cash proceeds from such sales.
Holders of ADSs can convert into CPOs and CPO holders can convert into ADSs by May 5, 2008 in order to select the desired alternative.
For further details please see our website at www.cemex.com. If you have further questions please call (212) 317-6000 or any of the CEMEX telephone numbers contained in this press release for help.
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, 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.