Trecora Resources (NYSE:TREC) Files An 8-K Other Events
Item 8.01 Other Events.
On January 2, 2019, Trecora Resources (the “Company”) issued a press release announcing that Al Masane Al Kobra Mining Company (“AMAK”), a Saudi Arabian closed joint stock mining company in which the Company owns a 33.4% stake, completed the repurchase of 10% of its outstanding shares on a pro-rata basis from its existing shareholders, resulting in gross proceeds of $5.3 million to the Company. The Company’s ownership percentage in AMAK did not change as a result of the share repurchase, which was completed on December 26, 2018. The Company expects to pay approximately $0.8 million in taxes related to the share repurchase.
A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference into this Item 8.01.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
The following exhibits are being filed as part of this report:
TRECORA RESOURCES Exhibit
EX-99.1 2 trecpressrelease_amak.htm EXHIBIT 99.1 Exhibit Trecora Resources Announces Proceeds of $5.3 million from AMAK Mining Co. Share Repurchase SUGAR LAND,…
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About Trecora Resources (NYSE:TREC)
Trecora Resources, formerly Arabian American Development Company, is engaged in manufacturing of specialty petrochemical products and synthetic waxes, and providing custom processing services. The Company operates through two segments: manufacturing of various specialty petrochemical products and manufacturing of specialty synthetic waxes. The specialty petrochemical products segment operates through South Hampton Resources, Inc. (SHR). The specialty synthetic wax segment operates through Trecora Chemical, Inc. (TC). SHR owns and operates a specialty petrochemical facility that produces hydrocarbons and other petroleum-based products, including isopentane, normal pentane, isohexane and hexane. TC produces specialty polyethylene and poly alpha olefin waxes, and provides custom processing services. TC provides custom manufacturing, distillation, blending, forming, and packaging of finished and intermediate products, and wax products for coatings, hot melt adhesives and lubricants.
