The Tender Offer is not conditioned upon the tender of a minimum amount of Debentures and is not subject to any financing condition.
This press release is neither an offer to purchase nor a solicitation of an offer to sell securities and no recommendation is made as to whether or not holders of the Debentures should tender their Debentures pursuant to the tender offer.
The rating assigned to the debentures
is equivalent to Cemex's foreign currency and local currency Issuer Default Ratings (IDR) in line with Fitch's criteria for rating preferred stock and hybrid securities.
Debentures holders' opportunity to surrender Debentures for purchase will commence on June 16, 2006, and will terminate at 5:00 p.
In addition, documents specifying the terms, conditions and procedures for surrendering and withdrawing Debentures for purchase will be available through The Depository Trust Company and the paying agent.
The debentures are redeemable in cash in whole or in part at specified prices declining to 100% of the principal amount plus accrued and unpaid interest at the company's option beginning on March 6, 2011, upon at least 20 days' but not more than 60 days' notice by mail to holders of debentures.
The debentures and any common stock issuable upon conversion of the debentures have not been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Holders of Debentures who surrender their Debentures for conversion prior to midnight on February 15, 2006 will receive $1,151.
Holders of Debentures who have any questions about the conversion of such Debentures should contact MacKenzie Partners, Inc.
Five related parties and insiders of Icefloe have purchased Debentures
in the Private Placement.