wall_street61.... The effective date could be any day. I would suggest that someone contact someone serving the Counsel to the Debtors. They may be able to give you some insist on to when the effective date is or will be. More than likely, it will be in a few days at most. This seams to be playing out like Citadel Broadcasting. The stock price will probably go down to nothing... IMO of course
Posted by: wall_street61 Date: Thursday, July 08, 2010 1:17:53 AM
In reply to: jaxstraw who wrote msg# 3844 Post # of 3887
(from disclosure statement)
"If the class of Equity Interests
votes in favor of the Plan, Holders shall receive their Pro Rata share of New Tranche C Warrants to be
issued on the Effective Date pursuant to the terms of the New Tranche C Warrant Agreement, the form of
which will be included in the Plan Supplement. The New Tranche C Warrants will entitle the holders
thereof to purchase 5.0% of the New Common Stock in Reorganized Tronox issued on the Effective Date
(subject to dilution), at an exercise price indicative of an implied total enterprise value of $1.2 billion. If
the class of Equity Interests votes to reject the Plan, no distributions will be made on account of Equity
Interests in Tronox Incorporated."
Got some information missing, ala the plan supplement. Total EV is 975-1,150 million with a midpoint of 1,063. The 3-6 million carries a footnote, and implies value over a 2 year return. The warrants are out of the money using the company's valuation.
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