CEMEX SA DE CV CX

election_required = True...below the selected purchase price and not properly withdrawn by any person, referred to as an “odd lot holder,” who owns, beneficially or of record, a total of fewer than 100 appreciation warrants or 20 ADWs, as applicable, and certifies to that fact in the “Odd Lots” box on the Indeval participant letter, letter of transmittal or agent’s message, as applicable. As set forth above, odd lots will be accepted for payment before proration, if any, of the purchase of other tendered appreciation warrants or ADWs. To qualify for this preference, an odd lot holder must tender all appreciation warrants or ADWs owned, beneficially or of record, by the odd lot holder in...

listed = True...or ADWs prior to your receipt of this document describing the revised terms of the offer, you should read the notice on page iv of this document. The appreciation warrants are listed on the Mexican Stock Exchange under the symbol “CMX412E-DC062,” and the ADWs are listed on the New York Stock Exchange under the symbol “CX-WSB.” On November 14, 2003, the last full trading day prior to the commencement of the offer, the last reported sales price of the appreciation warrants on the Mexican Stock Exchange was Ps5.70 per appreciation warrant (U.S.$0.51 per appreciation warrant at an exchange rate of Ps11.143 per U.S. dollar) and the last r...

mechanism = DUTCH...or DTC, your agent should arrange for the DTC participant holding the ADWs through its DTC account to tender those ADWs in the tender offer to the U.S. tender agent prior to the expiration date in accordance with the DTC procedures applicable to tendering in modified Dutch auctions. In the event one or more brokers, dealers, banks, trust companies, custodians or other nominees acts as an intermediary between your agent and that DTC participant, your agent should arrange to deliver the tender instructions for the ADWs to the appropriate DTC participant. See “The Offer—2. Procedures for Tendering Appreciation Warran...

price = USD 26.2...n Stock Exchange. We proposed that the maximum appreciation warrant price in the offer be Ps8.10, which was determined by us pursuant to the Black-Scholes pricing model based on a price per ADS of $26.20 and our assumption of a 35% volatility in the market prices for the ADSs. Based on recent market conditions, Citigroup informed us that it believed that the maximum price of Ps8.10 proposed by us was a reasonable attemp...

txn_type = TENDER_OFFEREX-99.(A)(1)(A) 3 dex99a1a.htm REVISED OFFER TO PURCHASE Revised Offer to Purchase Table of Contents Exhibit (a)(1)(A) CEMEX, S.A. de C.V. CEMEX, Inc. Revised Offer to Purchase for Cash Up to 90,018,042 Appreciation Warrants (Including Appreciation Warrants Represented by ADWs) At a Purchase Price Not Greater Than Ps8.10 Per Appreciation Warrant (U.S.$ Equivalent of Ps40.50 Per ADW) nor Less T...