Today, SunCoke Energy, Inc. (NYSE: SXC) became a 100% publicly traded company as a result of Sunoco, Inc.’s distribution of all its remaining shares of SunCoke common stock to Sunoco shareholders. Until today’s distribution, Sunoco had held approximately 80.9 percent of the outstanding shares of SunCoke.
This distribution was made today in the form of a tax-free, pro-rata distribution of all the remaining shares of SunCoke common stock owned by Sunoco in the form of a special dividend to Sunoco shareholders. Sunoco shareholders received 0.53046456 of a share of SunCoke common stock for every one share of Sunoco common stock held as of the January 5, 2012 record date. Sunoco will deliver cash in lieu of a fractional share of SunCoke common stock.
“Today marks the completion of the planned separation of SunCoke Energy from Sunoco,” said Frederick A. “Fritz” Henderson, Chairman and Chief Executive Officer of SunCoke Energy, Inc. “As an independent, publicly-owned company, we believe SunCoke has increased flexibility to pursue domestic and international growth strategies, meet the needs of our steelmaking customers and create opportunities for our employees and shareholders. We thank Sunoco’s leadership team led by Lynn L. Elsenhans and the Sunoco Board of Directors for their support and for working to ensure that our company has a solid foundation from which to grow our business over the long-term.”
RELATED INFORMATIONSunoco, Inc. issued an information statement on January 9, 2012 which contains additional information about the distribution. This information statement is available in the Investor Relations section of both SunCoke’s ( www.suncoke.com) and Sunoco’s ( www.sunocoinc.com) websites. UPCOMING EVENTS SunCoke Energy expects to report fourth quarter 2011 financial results before market open on Thursday, February 2, 2012, and will host an investor conference call at 10:00 a.m. Eastern Time (9:00 a.m. Central Time) on that date. This conference call will be webcast live and archived for replay on www.suncoke.com in the Investor Relations section of the website. Participants can listen in by dialing 1-800-471-6718 (domestic) or 1-630-691-2735 (international) and referencing confirmation 31517686. Please log in or dial in at least 10 minutes prior to the start time to ensure a connection. A replay of the call will be available for seven days by calling 1-888-843-7419 (domestic) or 1-630-652-3042 (international) and referencing confirmation 31517686#. SUNCOKE ENERGY, INC. SunCoke Energy, Inc. is the largest independent producer of metallurgical coke in the Americas, with about 50 years of experience supplying coke to the integrated steel industry. Our advanced, heat recovery cokemaking process produces high-quality coke for use in steelmaking, captures waste heat for derivative energy resale and meets or exceeds environmental standards. Our cokemaking facilities are located in Virginia, Indiana, Ohio, Illinois and Vitoria, Brazil, and our coal mining operations, which have more than 100 million tons of proven and probable reserves, are located in Virginia and West Virginia. To learn more about SunCoke Energy, Inc., visit our website at www.suncoke.com. FORWARD LOOKING STATEMENTS Some of the statements included in this press release constitute “forward looking statements” (as defined in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended). Such forward-looking statements are based on management’s beliefs and assumptions and on information currently available. You should not put undue reliance on any forward-looking statements. Forward-looking statements include all statements that are not historical facts and may be identified by the use of forward looking terminology such as the words “believe,” “expect,” “plan,” “project,” “intend,” “anticipate,” “estimate,” “predict,” “potential,” “continue,” “may,” “will,” “should” or the negative of these terms or similar expressions. Forward-looking statements involve risks, uncertainties and assumptions.