Board Changes at TCL

The Board of Directors of Trinidad Cement Limited advised that on Tuesday, August 19, 2014, a Special (Compulsory) Meeting of Shareholders (SCM) of the Company was held, at which over 80% of shareholders were represented. Prior to the SCM, Mr. Andy Bhajan, Dr. Rollin Bertrand, Mr. Brian Young, Dr. Leonard Nurse, Mr. Carlos Hee Houng and Mr. Bevon Francis, submitted their resignations as Directors of TCL effective August 19, 2014 in accordance with Clause 4.6.3 (c) of Bye-Law No. 1 of the Company. At the SCM, Mr. Wilfred Espinet, Ms. Alison Lewis, Mr. Christopher Dehring, Mr. Michael Glenn Hamel-Smith, Mr. Francisco Aguilera, Mr. Carlos Alberto Palero and Mr. Nigel Edwards were unanimously elected directors of the Company in accordance with Section 75 of the Companies Act (Ch. 81:01) and Clause 4.6.4 of Bye-Law No. 1 of the Company, until the conclusion of the next Annual Meeting of the Company, at which time they will be eligible for re-election by the shareholders. The newly elected directors have joined Mr. Alejandro Ramirez, Mr. Jean Michel Allard and Mr. Wayne Yip Choy to form the Board of Directors of TCL. Mr. Wilfred Espinet and Mr. Francisco Aguilera were appointed by the board as Chairman and Deputy Chairman respectively. The board took the decision to suspend with immediate effect, Dr. Rollin Bertrand as Group Chief Executive Officer and from all Committee and Executive positions within the Group.

The board also appointed Mr. Alejandro Ramirez as Acting Group Chief Executive Officer.