Tronox Inc. (TROX)

[BEMBEL]

Sorry, these terms are all too difficult to me.

What happens to the non-exercised warrants now? Are they cancelled? I am a warrant holder not yet a share holder. Is it the same as they say pro forma shares? What´s about the exercising time of 7 years? I understand that shareholders can choose between new shares with and without relationship to the combined company until 13 month from now...

Could "know"body explain please?

All explanations are very much appreciated

http://www.prnewswire.com/news-releases/tronox-to-acquire-exxaros-mineral-sands-operations-creating-leading-vertically-integrated-titanium-dioxide-pigment-producer-130547973.html

Existing Tronox shareholders will receive approximately 61.5 percent of New Tronox's pro forma shares representing all of the Class A ordinary shares which New Tronox intends to list on the NYSE after the closing of the transaction. Each Tronox shareholder will have the right to elect to receive either (i) one Class A ordinary share in New Tronox and cash consideration of $12.50 per share (a "Parent Election") or (ii) a non-transferable exchangeable share in Tronox Inc. (i.e. a subsidiary of New Tronox after closing) (an "Exchangeable Share Election"). Each exchangeable share may later be exchanged for one Class A ordinary share of New Tronox and cash of $12.50 per share, without interest. Tronox will have the right to force such an exchange beginning approximately 13 months from today. The transaction is expected generally to be taxable to Tronox shareholders, although the Exchangeable Share Election, which is subject to minimum and maximum (with pro-ration) election thresholds, is intended to provide certain Tronox shareholders with a mechanism that may allow them to defer a taxable event until their exchangeable shares are exchanged into New Tronox Class A shares.