2006 - Eastern Caribbean Securities Exchange

Directors’ ReportThe directors have pleasure in submitting their Report and the Audited Financial Statements for the year ended31st December, 2006.Financial ResultsTT$’000Turnover 1,719,002Net Earnings for the Year 145,665Dividends Paid 12,488Trinidad Cement Limited Board of Directors. Directors’ Interest (Ordinary Shares of TCL)Name Position Holdings at 31-12-06A. J. Bhajan Chairman NilK. Awong Director NilR. Bertrand Group CEO 567,208D. Boyce Director NilE. Carrington Director NilName Position Holdings at 31-12-06J. McFarlane Director NilL. Navarro Director NilY. Omar Director 340,000E. Williams Director 11,125B. Young Director NilDividendsBased on the results for the year, the Board has approved a final dividend of six (6) cents per ordinary share. Nointerim dividend was paid. The dividend for the year is six (6) cents, compared to the dividend of fifteen (15)cents paid for 2005.The dividend will be paid on 25th May, 2007 to shareholders on the Register of Ordinary Shareholders at theclose of business on 11th May, 2007. The register of members and transfer books will be closed from 11thMay, 2007 to 15th May, 2007, inclusive.Substantial InterestsNo. of Ordinary Shares Held at 31-12-05 % of Issued Share CapitalSierra Trading (Cemex S.A. de C.V.) 49,953,027 20.00The National Insurance Board 25,367,032 10.16Baleno Holdings Inc 20,500,000 8.21(A substantial interest means a beneficial holding of 5% or more of the issued share capital of the Company).Service Contracts & DirectorsNo service contracts exist nor have been entered into by the Company and any of its Directors.Directors• In accordance with Clause 4.4.2 of By Law No. 1, Mr. Darcy Boyce having been appointed by the Boardto fill a casual vacancy, is subject to re-election at the Annual Meeting for a period up to the conclusionof the third Annual Meeting following.• In accordance with Clause 4.6.1 of By Law No. 1, Ms. Eutrice Carrington and Messrs. Jeffrey McFarlaneand Leopoldo Navarro retire by rotation and being eligible, offer themselves for re-election for a periodup to the conclusion of the third Annual Meeting following.AuditorsThe Auditors, Ernst & Young, retire and, being eligible, offer themselves for re-election.By Order of the BoardAlan Nobie, Secretary52