Tronox Announces $100 Million Share Repurchase Program

Date : 06/03/2019 @ 11:51AM
Source : PR Newswire (US)
Stock : Tronox Limited Ordinary Shares Class A $0.01 Par (TROX)
Quote : 11.88  0.28 (2.41%) @ 1:00AM

Tronox Announces $100 Million Share Repurchase Program

Tronox Limited Ordinary Shares Class A $0.01 Par (NYSE:TROX)
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Company to hold investor call to further discuss legacy Cristal business performance

STAMFORD, Conn., June 3, 2019 /PRNewswire/ -- Tronox Holdings plc (NYSE:TROX) ("Tronox" or the "Company"), the world's largest vertically integrated producer of titanium dioxide pigment, today announced its Board of Directors has authorized the repurchase of up to $100 million of the company's stock.

Tronox Limited. (PRNewsFoto/Tronox Limited)

"This authorization to repurchase shares is consistent with our long-term capital allocation priorities of deleveraging, investing in high-return organic projects to lower our costs and opportunistically returning capital to shareholders," said Jeffry N. Quinn, chairman and chief executive officer of Tronox. "We believe our shares are drastically undervalued and repurchasing shares at the current price is a high-return use of a portion of our discretionary capital that will not impact our ability to achieve our deleveraging commitments or our timeline to deliver the substantial synergies resulting from the Cristal acquisition." 

Webcast Conference Call to Discuss Legacy Cristal Business Performance 
Tronox will conduct a webcast conference call on Tuesday, June 4, 2019, at 8:30 a.m. ET (New York) to discuss and provide additional information regarding legacy Cristal's historical business performance and its expected future contribution to Tronox's business performance through 2020.  

The live call will be open to the public via internet broadcast and telephone. Webcast details will be shared post-market close on June 3, 2019.

Media Contact: Melissa Zona
 +1 636.751.4057
Investor Contact: Brennen Arndt
+1 646.960.6598

About Tronox
Tronox Holdings plc is one of the world's leading producers of high-quality titanium products, including titanium dioxide pigment, specialty-grade titanium dioxide products and high-purity titanium chemicals; and zircon. We mine titanium-bearing mineral sands and operate upgrading facilities that produce high-grade titanium feedstock materials, pig iron and other minerals. With nearly 7,000 employees across six continents, our rich diversity, unmatched vertical integration model, and unparalleled operational and technical expertise across the value chain, position Tronox as the preeminent titanium dioxide producer in the world. For more information about how our products add brightness and durability to paints, plastics, paper and other everyday products, visit Tronox.com.

Forward Looking Statements
Statements in this release that are not historical are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. These and other risk factors are discussed in the company's filings with the Securities and Exchange Commission (SEC), including those under the heading entitled "Risk Factors" in our Annual Report on Form 10-K/A for the year ended December 31, 2018.

Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for our management to predict all risks and uncertainties, nor can management assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance or achievements. Neither we nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Unless otherwise required by applicable laws, we undertake no obligation to update or revise any forward-looking statements, whether because of new information or future developments.

 

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SOURCE Tronox Holdings plc

Copyright 2019 PR Newswire

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