Cemex has confirmed it will not pursue the proposal to authorise an up to 3.75bn CPOs capital increase at the extraordinary general shareholders meeting scheduled to take place on 5 April 2018. The decision intends to demonstrate the company’s commitment to maintaining a constructive and responsive dialogue with its investors.
Fernando Gonzalez, CEO at Cemex, said: “As we discussed on Cemex Day, our management team’s priority is to achieve an investment grade capital structure, as the foundation of our value creation strategy. We are highly focused on our long-term strategic objective of maximizing shareholder value. After listening to the feedback from our shareholders, we have decided not to pursue the 3.75bn CPO capital increase that had been proposed. We will continue focusing on implementing our stated strategy.”
The company’s board of directors and management has stated it will continue its focus on accountability to shareholders and on creating long term shareholder value.