Courtesy of Benzinga.
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.
