Tronox Announces Completion of Stock Buyback Program
STAMFORD, Conn., Sept. 27, 2012 /PRNewswire/ -- Tronox Limited (NYSE: TROX) today announced the successful completion of its previously announced program to repurchase ten percent of its total Class A and Class B common shares.
The company has repurchased 12.6 million Class A shares. As a result of this buyback, Exxaro Resources Ltd., the company's largest shareholder, now holds 43.7 percent of Tronox common shares outstanding. Under the terms of a transaction completed in June 2012, in which Tronox acquired Exxaro's Mineral Sands business, Exxaro ownership may not exceed 45 percent of Tronox's common shares outstanding for a three-year period that commenced with the date of the transaction.
Tronox is a global leader in the production and marketing of titanium bearing mineral sands and titanium dioxide pigment. Through the integration of its pigment and mineral sands business, the company provides its customers a dependable supply of brightening solutions for a variety of end uses. For more information, visit http://www.tronox.com.
Media Contact: Bud Grebey
Investor Contact: Brennen Arndt
SOURCE Tronox Limited