Tronox Holdings plc, the world’s largest vertically integrated producer of titanium dioxide pigment, announced the repurchase of 14 million shares of its common stock from Exxaro Resources Limited for an aggregate purchase price of approximately $200 million or $14.32 per share. The purchase price per share represented a five percent discount to the 10-day volume weighted average price as of the day that Exxaro exercised its right to sell the shares, as agreed in the Mineral Sands Transaction Completion Agreement announced in November 2018. Exxaro announced its intention to divest its ownership interest in Tronox in 2017, and it intends to continue the orderly sell down of its ownership in accordance with the terms of the Completion Agreement. Following the transaction, Exxaro will own approximately 14.7 million shares representing 9.9 percent of Tronox’s outstanding equity. Tronox’s ability to buy these shares was enabled by its re-domiciliation from Australia to the United Kingdom on March 27, 2019. The Company funded the share repurchase by using a portion of the approximately $700 million in proceeds it received on May 1, 2019, from the divestiture of Cristal’s North American titanium dioxide business to INEOS Enterprises, a division of INEOS. Click Read More below for additional information.
Effective with all new and existing orders with confirmed delivery dates of October 5, 2018 or later, Verso Corporation is increasing the transaction price of all Coated Freesheet Sheets and Sheeter Roll grades, including but not limited to: Anthem Plus® sheets/sheeter rolls 4 to 5% & Blazer Digital® sheets/sheeter rolls 4 to 5%.
The increase applies to all basis weights, bulks, finishes and related private label grades. Should you have any questions, please contact your Verso professional sales representative. Thank you for your continued support.