97.8% of shareholders to receive CPOs or ADSs under CEMEX’s stock dividend program
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 26, 2007. A total of 189,273,736 CPOs, including CPOs in the form of ADSs (one ADS represents ten CPOs), were issued on June 6, 2007 and will be distributed to 97.8% of shareholders; the remaining 2.2%, consisting of CPO holders, will receive a cash payment of MXP 0.803654 per CPO in lieu of the stock dividend, for a total of approximately MXP 140 million (US$13 million) to be paid by CEMEX.
Under this stock dividend program, CEMEX CPO holders will receive one new CPO for each 40.750966 CPOs held (each representing two series A shares and one series B share) and ADS holders will receive one new ADS for each 40.750966 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 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.
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