READYMIX (WEST INDIES) LIMITED
MEASURES TAKEN BY READYMIX (WEST INDIES) LIMITED IN RESPECT OF THE COVID-19 GLOBAL PANDEMIC
Readgmix (West Indies) Limited (“RML” or the “Compang”) today disclosed the measures which RML have taken or currently expect to take regarding the Novel Coronavirus (“COVlD-19″) global pandemic.
The health and safety of its employees, contractors and suppliers is the Company’s top priority. RML continues to monitor the development of COVlD-19, leveraging information and recommendations from relevant health
organisations such as the World Health Organisation, the Centers for Disease Control, and other international organisations, as well as from local authorities.
The Company has set-up a rapid response team that remains activated throughout the Company’s operations. As of the date of this report, the Company has implemented and expects to continue to implement preventive
measures, as the situation evolves. Some measures already applied include restricting all work-related travel, putting in place arrangements so that employees can work remotely to the extent possible and to minimise the people working in RML’s operating facilities and administrative offices. Among other initiatives, we have also enhanced RML’s internal information campaigns on recommended practices for health, hygiene, social interaction and promoting physical distancing. RML also continues to co-operate with its clients and suppliers in order to implement measures that are designed to maintain business continuity, and to try to reduce any impact that disruptions caused by COVlD-19 could have in its business. In addition, RML is exploring different ways to assist our communities during the COVID-‘l9 pandemic.
On March 28, 2020, the Government of Trinidad and Tobago issued speci?c regulations addressing COVlD-19 (“the Regulations”). Pursuant to the Regulations, starting on March 30, 2020 and up to at least April15, 2020 (“the Prescribed Period”), or earlier, if possible under the Regulations, RML has halted its operations, however it may, pursuant to specific written orders, manufacture and supply concrete to companies engaged in the construction of health facilities, as permitted by the Regulations. For the avoidance of doubt, as of the date of this report, these measures are temporary and not permanent.
RML believes that COVlD-19 has already been a contributing factor in the decline of global economic activity. The disruption of world trade, travel, capital investment and general economic decline is negatively impacting the global economy. These adverse effects will severely compromise the building and construction industry in the Caribbean region and ultimately RML’s ?nancial performance in the short term.
RML also believes that the current measures taken to limit the spread of COVlD-19 could have a negative impact on short-term economic growth across the world, in particular in the Caribbean region.
To this end, RML is implementing several measures including the possible delay of certain capital expenditures that had been planned in this ?scal year as well as even more rigorous cost control measures.
RML continues to fully evaluate and assess the overall risks that this global pandemic could have on the RML’s ?nancial condition, business, liquidity and operating results and will advise of any further material changes associated with COVlD-19.
This Notice is published pursuant to Section 64(1)(b) of the Trinidad and Tobago Securities Act, 2012