Key Developments: Tronox Ltd (TROX.N)
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12:57pm EDT
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$22.71
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$23.31
$22.71
42,573
136,159
$29.95
$14.12
Latest Key Developments (Source: Significant Developments)
Tronox Ltd Declares Regular Quarterly Dividend
Tronox Ltd announced that regular quarterly dividend of $0.25 per share payable on May 28, 2013 to shareholders of record of company's Class A and Class B ordinary shares at close of business on May 20, 2013. Full Article
Tronox Ltd Declares Regular Quarterly Dividend
Tronox Ltd announced that the board has declared regular quarterly dividend of $0.25 per share payable on March 20, 2013 to shareholders of record of company's Class A and Class B ordinary shares at close of business on March 6, 2013 Full Article
Tronox Ltd Announces Management Change
Tronox Ltd announced that Daniel Greenwell, senior vice president and Chief Financial Officer, has resigned from the Company for personal reasons. His separation from the Company is effective March 31. The Company has commenced a search for a successor, expected to be named in the second quarter of 2013. Full Article
Tronox Ltd Issues Q4 2012 Guidance
Tronox Ltd announced that for the fourth quarter of 2012, it expects to report revenue of $482 million and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of approximately $70 million, which is below previous guidance, due to the combined effect of three scheduled ore shipments in the quarter that were either delayed or cancelled by customers and a $9.6 million lower of cost or market (LCM) inventory write-down. Full Article
Tronox Ltd Declares Regular Quarterly Dividend
Tronox Ltd announced that its Board declared a regular quarterly dividend of $0.25 per share payable on December 3, 2012 to shareholders of record of the company's Class A and Class B common stock at the close of business on November 23, 2012. Full Article
Tronox Ltd's Tronox Finance LLC Closes $900 Million Debt Offering
Tronox Ltd announced that its subsidiary, Tronox Finance LLC, has closed the offering of $900 million aggregate principal amount of its 6.375% Senior Notes due 2020. The offering was made to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The notes bear interest semiannually at a rate equal to 6.375 percent and were sold to the holders at par value. The notes are fully and unconditionally guaranteed on a senior, unsecured basis by Tronox Limited and certain of its subsidiaries. Approximately $400 million of the proceeds of the notes are expected to be used for returns of shareholder capital, including share buybacks. The remainder of the proceeds is expected to be used for general corporate purposes, and subject to required approvals may also be used for further returns of capital to shareholders from time to time (including by way of dividend). Full Article
Tronox Ltd Prices $900 Million Debt Offering
Tronox Ltd announced that it has priced the offering of $900 million aggregate principal amount of 6.375% Senior Notes due 2020 of its subsidiary, Tronox Finance LLC. The offering was made to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The closing of the offering is anticipated to take place on or about August 20, 2012. Approximately $400 million of the proceeds of the notes are expected to be used for returns of shareholder capital, including share buybacks. The remainder of the proceeds is expected to be used for general corporate purposes. Full Article
Tronox Limited Reaffirms FY 2012 Revenue Guidance
Tronox Limited announced that it is reaffirming its fiscal 2012 outlook for pro forma revenue of $2.5-$2.6 billion. Full Article
Anadarko Petroleum Corp. And Tronox Incorporated Trial Halted For Settlement Talks-Reuters
Reuters reported that a trial between oil and gas producer Anadarko Petroleum Corp. and paint materials company Tronox Incorporated has been adjourned for one week so the two companies can try to hammer out a settlement of their $25 billion dispute, according to a court filing. The trial will now resume on July 24, according to the judge's ruling. The two companies are locked in a battle in New York bankruptcy court over environmental liabilities related to the spinoff of Tronox from Kerr-McGee Corp, which was purchased by Anadarko. Tronox, which filed for bankruptcy in 2009, makes titanium dioxide used in paints and has argued its spinoff was fraudulent because of environmental liabilities that made the company insolvent. It has said Anadarko should pay for environmental clean-up at more than 2,000 polluted sites in the United States. It is seeking $15 billion in assets and $10 billion in interest payments from Anadarko. Tronox emerged from bankruptcy in February 2011 after a battle among creditors over payouts, and new Tronox shares now trade on the New York Stock Exchange. The litigation trust, which has been joined by U.S. Department of Justice and the Environmental Protection Agency in the case, represents current and future claimants against the estate for environmental and other liabilities, including more than 8,000 tort claims. Full Article
Tronox Incorporated Authorizes Stock Repurchase; Announces Regular Quarterly Dividend
Tronox Incorporated announced that its Board of Directors has authorized the repurchase of up to 2.5 million Class A shares in open market transactions. Any shares that are repurchased by the Company will be cancelled in accordance with Australian law, under which the Company is incorporated. In addition, the Board declared a dividend of USD1.25 per share on Class A and Class B shares and announced its intent to continue to pay a dividend of USD1.25 per share on a quarterly basis. The declared dividend will be payable on August 13 to shareholders of record at the close of business on July 13, 2012. Although the share repurchase program does not include a specific timetable or price targets and may be suspended or terminated at any time, the Company expects the program to involve purchases of up to USD150 million in the shorter term followed by additional purchases following a new debt financing. Full Article
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