Tronox Inc. (TROX)

[My4ntoy]

jaxstraw... seams like they are trying to execute a similar plan to Chemtura, where their existing equity holders get 5% of the new shares. However, Existing equity holders will recover warrants to purchase up to 5% of the common equity (subject to certain terms and conditions) if they vote to accept the Plan. It seams that they will have a chance to buy new shares, not get an exchange for the one currently held. I am not sure what you make of this, but it don't sound good...IMO of course.


Posted by: jaxstraw Date: Thursday, July 08, 2010 6:51:00 PM
In reply to: everett7 who wrote msg# 3924 Post # of 3928

The DS is unclear and lacking in those details. It mentions a 'supplemental plan' though.
I guess we'll have to wait to see those terms when they decide to release that.
The way I see it though is that the 28 days should start when that is released since that is when the full terms are revealed.
And if you count back 28 days from 8/5 that brings you to either today or tomorrow ( depending on if you include the 4th as 28 or the 5th as 28).
Any later than tomorrow and I could see an objection to the 8/5 date as outside the framework of BK statutes.