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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
June 14, 1996
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(Date of Report, date of earliest event reported)
TREMONT CORPORATION
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(Exact name of Registrant as specified in its charter)
Delaware 1-10126 76-0262791
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
1999 Broadway, Suite 4300, Denver, CO 80202
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(Address of principal executive offices) (Zip Code)
(303) 296-5600
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or address, if changed since last report)
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Item 5: Other Events
On June 9, 1996, the Registrant issued the press release attached
hereto as Exhibit 99.1, which is incorporated herein by reference. The press
release relates to the Registrant's selling of stock in connection with its
subsidiary's initial public offering.
Item 7: Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
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<CAPTION>
Item No. Exhibit List
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<S> <C>
99.1 Press release dated June 9, 1996 issued by Registrant.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TREMONT CORPORATION
(Registrant)
By: /s/ John R. Burt
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John R. Burt
Corporate Attorney
and Assistant Secretary
Date: June 14, 1996
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EXHIBIT INDEX
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<CAPTION>
EXHIBIT
NUMBER EXHIBIT DESCRIPTION PAGE
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<S> <C> <C>
99.1 Press release dated June 9, 1996 issued by Registrant.
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Exhibit 99.1
PRESS RELEASE
CONTACT:
Tremont Corporation Joseph S. Compofelice
1999 Broadway, Suite 4300 Chief Financial Officer
Denver, Colorado 80202 (713) 423-3303
TREMONT TO SELL STOCK IN CONNECTION WITH TIMET INITIAL PUBLIC OFFERING
DENVER, COLORADO . . . June 9, 1996 . . . Tremont Corporation
("Tremont") (NYSE: TRE) announced that the underwriters for the initial public
offering of stock of Tremont's subsidiary, Titanium Metals Corporation
("TIMET") (NASDAQ: TIMT), have exercised their option to purchase 2,175,000
shares of TIMET common stock from Tremont to cover overallotments in connection
with the offering.
The net proceeds to Tremont from this sale of TIMET stock will be
approximately $47 million. In addition, TIMET will apply approximately $43
million of its net proceeds from the offering to repay indebtedness to Tremont
(approximately $23 million) and another TIMET shareholder, IMI plc
(approximately $20 million).
Following the closing of the initial public offering on June 10,
Tremont will hold approximately 30% of the oustanding common stock of TIMET.
The public will hold approximately 53% of TIMET's stock, with the balance being
held by TIMET's other principal stockholders, IMI (6%) and Union Titanium
Sponge Corporation ("UTSC") (10%). Tremont and UTSC hold options, exercisable
until February 1999, to purchase the balance of the shares held by IMI (75% of
the balance by Tremont and 25% of the balance by UTSC) at a price of $7.95 per
share.
Tremont Corporation, headquartered in Denver, Colorado, is a leading
integrated producer of titanium metal products.
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