Tronox Inc. (TROX)

[donemyway]

Warrants will be diluted-"by an equity incentive plan that continues to be negotiated". I have not heard any results of the negotiation.

Tranche A warrants convertible into 3.5% of the common equity in reorganized Tronox Incorporated issued on the Effective Date, at a strike price based on a $1.4 billion total enterprise value for reorganized Tronox; and

• Tranche B warrants convertible into 4.0% of the common equity in reorganized Tronox Incorporated issued on the Effective Date, at a strike price based on a $1.5 billion total enterprise value for reorganized Tronox.

The Tranche A and Tranche B warrants will convert into the respective percentages of ownership of the new common stock issued on the Effective Date of the Plan on a fully diluted basis, subject only to dilution by an equity incentive plan that continues to be negotiated