Tronox Holdings plc has completed the repurchase of 14 M shares of its common stock from Exxaro Resources Ltd(of Pretoria,South Africa)for an aggregate price of approximately $200 M or $14.32/share.The company's ability to implement this transaction was enabled by its re-domiciliation from Australia to the United Kingdom on 27 March 2019.It leaves Exxaro with a 9.9% stake in Tronox,which will eventually be disposed of at some time after mid-August 2019.(See also'Focus on Pigments',May 2019,5-6).Now that Exxaro's stake in Tronox has fallen below 10%,Mr Mxolisi Mgojo(Chairman & CEO of Exxaro)has stepped down from the Tronox Board of Directors.
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