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Within the framework of the Voluntary Tender Offer for the share exchange of TITAN Cement Company S.A. (TITAN) with shares of TITAN Cement International SA (TCI) in progress, TITAN reports on the issue of two relevant announcements by the international stock market indexes MSCI and FTSE Russell.
MSCI announced on 26/6/2019 that, if the Voluntary Tender Offer is successful, it intends to include TCI in the MSCI Global Standard Indexes, classified in Greece. If a share exchange rate of more than 85% is achieved, TCI will be considered as the continuation of TITAN, and if the acceptance rate is below 85% then both the TCI and TITAN shares will be included in the indexes.
Accordingly, FTSE Russell announced on 28/6/2019 that, in the event of a successful outcome of the Voluntary Tender Offer, it plans to add TCI shares from July 24, 2019 to GEIS Small Cap (Belgium) indexes, based on current estimates. If the acceptance rate is below 90%, TITAN’s share will remain included within the GEIS Mid Cap Indexes (Greece) at a reduced weight.
The Athens Exchange has also announced that, subject to the successful completion of the Voluntary Tender Offer, the shares of TCI will replace the shares of TITAN in the indexes it participates before the commencement of trading on the first day of trading of TCI on ATHEX.
The relevant MSCI and FTSE Russell announcements are available on http://ir.titan.gr/en/gatepost2019.
The relevant ATHEX announcement can be found on the ATHEX website, https://bit.ly/2FTKIZk
Disclaimer
The present opinion contains certain forward-looking statements that relate to, among others, the business activities, and certain plans and objectives of Titan Group. As a consequence of various risks and factors (for instance, without limitations, business, commercial, operational, economic, political and financial), the actual results and the actual developments may potentially differ from the plans and the objectives of TCI and the TITAN Group, mentioned in the present opinion.