VISTRA ENERGY CORP. (OTCMKTS:VSTE) Files An 8-K Regulation FD DisclosureItem 7.01.
Regulation FD Disclosure
VISTRA ENERGY CORP. (OTCMKTS:VSTE) Files An 8-K Regulation FD DisclosureItem 7.01.
Regulation FD Disclosure
On November 15, 2017, to the Tax Receivable Agreement, dated as of October 3, 2016 (“Agreement”), entered into by and between Vistra Energy Corp. (f/k/a TEX Energy LLC) (“Company”) and American Stock Transfer & Trust Company, LLC, as transfer agent (“Transfer Agent”), to which the respective holders (“Holders”) of certain rights thereunder have beneficial interests in certain payments in respect of cumulative tax benefits realized by the Company (together with other benefits appertaining to such Holders, the “TRA Rights”), the Company provided notice to such Holders of an annual tax payment to be made in accordance with the terms of the Agreement.
For the subject taxable year of 2016, an annual tax payment with an aggregate value of approximately $25.9 million will be paid on December 4, 2017 to Holders of record as of November 27, 2017. The estimated value of each TRA Right on October 3, 2016 (the “TCEH Effective Date”) was $2.99924 and the Company has made no prior payments in respect of the TRA Rights.
Under Federal income tax law, paying agents may be required to withhold up to 30% of the gross payment amount to be paid to particular Holders for their proportion of ownership of the TRA Rights if such Holder has failed to furnish a taxpayer identification number certified to be correct under penalties of perjury. Holders with questions regarding such withholdings may contact the Transfer Agent by phone at 1-800-937-5449 to inquire on the status of the account.
The information furnished to this Item 7.01 shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and will not be incorporated by reference into any filing under the Securities Act unless specifically identified therein as being incorporated therein by reference.