CHIHUAHUA, Mexico, Sept. 21, 2018 (GLOBE NEWSWIRE) -- Grupo Cementos de Chihuahua, S.A.B. de C.V. (BMV: GCC*), informs the market that the large trading volumes of its shares today is partially the result of the fact that CEMEX, S.A.B. de C.V. (“CEMEX”) gave instruction for the partial early termination of its equity forward agreements with two financial institutions that GCC announced on September 27, 2017.
This instruction covered approximately 10.6 million GCC shares, or about 34% of the forward contracts. The forward contracts, which originally represented around 9.5% of GCC’s outstanding shares, enabled CEMEX to retain its exposure to future movements in GCC ́s stock price.
GCC is not a party to the equity forward agreements or today's transaction.
About GCC
GCC is a leading supplier of cement, concrete, aggregates, and construction‐related services in the United States and Mexico, with an annual cement production capacity of 5.4 million metric tons. Founded in 1941, the Company’s shares are listed on the Mexican Stock Exchange under the ticker symbol GCC*.
For further information, contact:
| GCC Investor Relations: | |
| Ricardo Martinez +52 (614) 442 3176 rmartinezg@gcc.com | Daniel Wilson, Zemi Communications +1 212 689 9560 dbmwilson@zemi.com |
Forward Looking Statements
This press release may contain forward-looking statements. All statements that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “expect,” “estimate,” “intend,” “project” and similar expressions are generally intended to identify forward-looking statements. These statements are subject to risks and uncertainties including, among others, changes in macroeconomic, political, governmental or business conditions in the markets where GCC operates; changes in interest rates, inflation rates and currency exchange rates; performance of the construction industry; pricing, business strategy, and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from the beliefs, projections, and estimates described herein. GCC assumes no obligation to update the information contained in this press release.