
TCL now has 97.23% of Readymix shares.
Trinidad Cement (TCL) acquired most of the shares of Readymix following the offer to minority shareholders to buy out their shares at TT$11 each.
Following the offer TCL now owns 97.23 percent of the Readymix shares. TCL in a recent release advised the minority shareholders that they can still sell their shares to the company and they also advised that an application was made to the Trinidad Stock Exchange to have the Readymix shares delisted.
Readymix has struggled to make a profit recently and with the Trinidad economy in recession, the situation became worse and would require finding areas of cost to cut to get the operations into a state of minimal cost. Acquisition of all the shares would end up reducing cost in a number of areas.
Trading on the Trinidad & Tobago Stock Exchange on Thursday resulted in 12 securities changing hands compared to 10 on Wednesday and closed with advancing stocks outnumbering declining ones, 6 to 1.
Guardian Holdings added 3 cents, rising to $16.12 with 10,460 shares changing hands, NCB Financial Group closed at a 52 weeks’ high of $4.07, with a 1 cent gain and 65,988 shares traded and Sagicor Financial gained 1 cent, ending at $8.01 with an exchange of 1,334 shares.
First Citizens exchanged 24,979 shares at $31.64, valued at $790,127, JMMB Group closed at $1.25, with 410 units changing hands. National Enterprises held firm at $10.49, with 2,000 shares, Republic Financial Holdings closed at $101.90 while exchanging 3,152 shares valued at $321,189, Trinidad Cement remained at $4.14 trading 66,136 shares and Trinidad & Tobago NGL closed at $21.90 with 4,990 units switching owners.
Investors’ sentiment in the Trinidad & Tobago Stock Exchange remains weak, with just 2 stocks advancing, 6 falling and 7 remaining unchanged, at the close of trading on Tuesday. The Investor’s Choice bid-offer Indicator confirms the weakness, with just 1 stock with a bid that is higher than the last selling price and 8 with lower offers, at the end of trading.
Enterprises was down 1 cent, closing at $10.49, with 8,000 shares changing hands, Sagicor Financial closed at $8, with a loss of 1 cent trading 85,520 shares valued at $684,246 and Trinidad Cement lost 1 cent to close at $4.14, with an exchange of 11,358 shares.
Losses| Clico Investment lost 1 cent to close at $22.50 exchanging 15,495 shares valued at $348,719, Massy Holdings ended trading at a 52 weeks’ low of $49.98 with 99,818 shares changing hands at a value of $4,988,968, Sagicor Financial closed at $8, losing 48 cents with 35,600 shares traded and Scotiabank was down 3 cents to $58, with 2,475 shares exchanged.
Point Lisas gained 1 cent, to end at $3.88, with trades of 194,319 units valued at $753,958 and Trinidad Cement closed at $4.15, rising by 1 cent in exchanging 24,656 shares.
One Caribbean Media dominated market activity Trinidad & Tobago Stock Exchange on Monday with 91 percent of both the 1,204,518 units traded and the value of $18,120,647 traded. Monday’s trading compared to Friday’s 2,080,937 units valued at $4,909,138.
Scotia Investments closed at $2, with gains of 4 cents trading 1,000 units.
Scotia Investments now the subject of a proposed buyout by the Jamaica parent Scotia Group dominated trading on the Trinidad & Tobago Stock Exchange on Friday with 97 percent of the trades. The stock gained 6 cents to close at $1.96, with trading 2,024,656 shares valued at $3,948,159.
Trinidad & Tobago NGL traded 40 cents lower, closing at $21.90 with trades of 1,500 units and Trinidad Cement closed at $4.14, with a loss of 1 cent exchanging 5,000 shares.
West Indian Tobacco lost 6 cents to close at a 52 weeks’ low of $125.94, with 8,950 shares changing hands valued at $1,127,163.
Losses| NCB Financial Group traded 6 cents lower to close at $4, with an exchange of 102,626 shares valued at $410,925, Sagicor Financial closed at $8.50, losing 39 cents trading 1,308 shares and Trinidad Cement exchanged 33,864 units at $4.14, with a loss of 1 cent.