Contact Information: TMM COMPANY CONTACT: Jacinto Marina Chief Financial Officer 011-525-55-629-8866 ext. 2901 Monica Azar Investor Relations 917-597-5361 or 011-525-55-629-8866 ext. 3421 AT DRESNER CORPORATE SERVICES: Kristine Walczak (investors, analysts, media) 312-726-3600
Grupo TMM Announces ADS Ratio Change Effective August 24, 2009
| Source: Grupo TMM
MEXICO CITY--(Marketwire - August 21, 2009) - Grupo TMM, S.A.B. (NYSE : TMM ) (BMV: TMM A)
("TMM"), a Mexican intermodal transportation and logistics company,
announced that it will change its current American Depositary Share ("ADS")
ratio effective August 24, 2009.
The ratio will change from one ADS for every one Certificado de
Participacion Ordinario ("CPO") of TMM, each CPO representing a financial
interest in one nominative common share, to one ADS for every five CPOs.
For TMM's ADS holders, the ratio change has the same effect as a
one-for-five reverse split. Citibank, N.A., TMM's depositary bank, will
contact registered ADS holders regarding this change. All fractional
entitlements of TMM ADS holders resulting from the reverse split will be
aggregated and sold by Citibank, N.A. on behalf of the ADS holders, and
cash proceeds will be distributed to the ADS holders in proportion to their
fractional interests. There will be no change to TMM's CPOs or the
underlying nominative common shares.
Headquartered in Mexico City, TMM is a Latin American intermodal
transportation company. Through its branch offices and network of
subsidiary companies, TMM provides a dynamic combination of ocean and land
transportation services. Visit TMM's Web site at www.grupotmm.com. The site
offers Spanish/English language options.
Included in this press release are certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such forward-looking statements speak only as of the date they are
made and are based on the beliefs of the Company's management as well as on
assumptions made. Actual results could differ materially from those
included in such forward-looking statements. Readers are cautioned that all
forward-looking statements involve risks and uncertainty. The following
factors could cause actual results to differ materially from such
forward-looking statements: global, US and Mexican economic and social
conditions; the effect of the North American Free Trade Agreement on the
level of
US-Mexico trade; the condition of the world shipping market; the success of
the Company's investment in new businesses; risks associated with the
Company's reorganization and restructuring; the ability of the Company to
reduce corporate overhead costs; the ability of management to manage growth
and successfully compete in new businesses; and the ability of the Company
to restructure or refinance its indebtedness. These risk factors and
additional information are included in the Company's reports on Form 6-K
and 20-F on file with the United States Securities and Exchange Commission.