Trinidad Cement will change name to Cemex by next year. The company has already de-listed from Guyana’s equivalent of a stock exchange, the Eastern Caribbean Securities Exchange, and the Jamaica Stock Exchange.
It is now de-listing from the Barbados Stock Exchange, and analysts say its T&T base is next.?“Trinidad Cement Ltd (TCL) wishes to advise that effective as of Monday, March 6, 2017, its ordinary shares have been de-listed from the Barbados Stock Exchange Inc (BSE),” the company said in a Trinidad and Tobago Securities and Exchange Commission Form 10 Material Change Report.
The plan to de-list from the Barbados Stock Exchange was made since July 20, 2015, when Trinidad Cement shareholders unanimously voted to so do, citing high costs of being listed on these small regional capital markets.
Trinidad Cement’s directors also passed a resolution on February 23, 2017, authorising the company to make an application to the Jamaica Stock Exchange to de-list the ordinary shares of Trinidad Cement from the Kingston-based exchange. The application was made on March 2.
“The delisting of TCL from the exchange will be effective on a date to be determined by the JSE,” the Jamaica Stock Exchange said in a March 6 statement.
Last year, on January 18, Trinidad Cement also de-listed from Guyana’s equivalent of a stock exchange, the Guyana Association of Securities Companies and Intermediaries. Later that same year, effective March 1, Trinidad Cement de-listed from the Eastern Caribbean Securities Exchange.
Majority Cemex-owned Trinidad Cement will gradually also de-list from the Trinidad and Tobago Stock Exchange, and change its name to Cemex between 2018 and 2019 say analysts.