LIMA, Peru--(BUSINESS WIRE)--Cementos Pacasmayo S.A.A. and subsidiaries (NYSE:CPAC; BVL:CPACASC1) (“the Company” or “Cementos Pacasmayo”), a leading cement company serving the growing Peruvian construction industry, is pleased to provide shareholders with an update regarding the status of its spin-off of FOSSAL, S.A.A.
Pursuant to the provisions of Article 28 of the Peruvian Securities Market Law and Resolución SMV 005-2014.SMV/01, Cementos Pacasmayo S.A.A. hereby announces that, as stated on September 26, 2016 and in accordance with the Spinoff Project approved at the Company’s General Shareholders' Meeting held on the same date, Pacasmayo’s Chief Executive Officer and the Chief Executive Officer of FOSSAL S.A.A together have established March 1, 2017 as the effective spin-off date of FOSSAL S.A.A. Said effective date is subject to spinoff registration conditions of the Peruvian Public Registry, Cementos Pacasmayo will provide further details once this has been confirmed.
The registration and exchange date will also be March 1, 2017 and is subject to registration by the Peruvian Public Registry and compliance with the Securities Market regulations, specifically with Circular No. 037-2015-SMV/11.1 and Resolución CONASEV No. 069-2006-EF- 94.10. FOSSAL’s common shares are registered with the Lima Stock Exchange (BVL) under the ticker FOSSALC1.
About Cementos Pacasmayo S.A.A.
Cementos Pacasmayo S.A.A. is a Peruvian cement company located in the Northern region of Peru. In February 2012, the Company’s shares were listed on The New York Stock Exchange - Euronext under the ticker symbol "CPAC". With more than 58 years of operating history, the Company produces, distributes and sells cement and cement-related materials, such as concrete blocks and ready-mix concrete. Cementos Pacasmayo’s products are primarily used in construction, which has been one of the fastest-growing segments of the Peruvian economy in recent years. The Company also produces and sells quicklime for use in mining operations.
For more information, please visit: http://www.cementospacasmayo.com.pe/investors/
Note on Forward-Looking Statements
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, Company performance and financial results. Also, certain reclassifications have been made to make figures comparable for the periods. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.