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CEMEX Announces Subscription Issue Price Of New CPOs

CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that as a result of the application of retained earnings for a capital increase approved by CEMEX’s shareholders at the general ordinary shareholders meeting held on March 20, 2014, CEMEX shareholders will receive new shares as follows:
  • 1 new CEMEX CPO per 25 CEMEX CPOs held, or, if applicable, 3 new shares per 75 shares currently outstanding.
  • Holders of CEMEX American Depositary Shares (“ADS”) will receive 1 newly issued ADS per 25 ADSs held.
  • No cash will be distributed by CEMEX, including for fractions for which no shares are issued.

The delivery of the new CPOs or shares, as applicable, will be made starting on April 25, 2014. Only holders of record of CEMEX CPOs or ADSs as of April 24, 2014 (the record date) will receive new shares as a result of the increase in the capital stock. The new ADSs to be issued will be distributed on or about April 29, 2014. Each ADS represents 10 CPOs.

As a result of all of the above, the conversion rate of CEMEX’s convertible subordinated notes due 2015 (the “2015 Convertible Notes”), 2016 and 2018 (the “2016 and 2018 Convertible Notes”), as well as CEMEX’s mandatory convertible obligations due 2019 (the “2019 Convertible Notes”) will be adjusted accordingly. The new conversion rate for the 2015 Convertible Notes will be 89.4729 ADSs per U.S.$1,000 principal amount of 2015 Convertible Notes, equivalent to a conversion price of approximately U.S.$11.18 per ADS. The new conversion rate for the 2016 and 2018 Convertible Notes will be 103.6741 ADSs per U.S.$1,000 principal amount of 2016 and 2018 Convertible Notes, equivalent to a conversion price of approximately U.S.$9.65 per ADS. The new conversion rate for the 2019 Convertible Notes will be 452.5949 CPOs per each obligation, equivalent to a conversion price of approximately MXN$19.66 per CPO.

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