IRVING, Texas, Nov. 20, 2018 Vistra Energy Corp. (NYSE:
VST) announced today that on November 19,
2018, a significant stockholder (the "Stockholder") of
Vistra Energy Corp. ("Vistra") agreed to sell 17 million shares of
Vistra common stock. Of these shares, 5 million were sold
directly to Vistra as part of its $1.25
billion share repurchase authorization, leaving over 90
percent of the authorized amount available for future
repurchases. The Stockholder sold the remaining 12 million
shares in a separate unregistered Rule 144 secondary block trade to
a broker-dealer, who placed all 12 million shares with
institutional investors. The Stockholder sold the shares to
each of Vistra and the broker-dealer at the same discounted price
to the November 19, 2018 closing
price.
![Vistra Energy logo (PRNewsfoto/Vistra Energy) Vistra Energy logo (PRNewsfoto/Vistra Energy)](https://mma.prnewswire.com/media/530816/Vistra_Energy_Logo.jpg)
The execution of these trades is another positive step as Vistra
continues to rotate its stockholder base from post-emergence
stockholders to more natural, long-term holders of the stock.
Vistra's decision to repurchase its shares, alongside the
investment by other institutional investors, is consistent with
management's stated intent regarding potential uses of its
$1.25 billion share repurchase
authorization. Curt Morgan,
Vistra's president and chief executive officer, stated, "Vistra is
excited to announce this repurchase of a meaningful amount of its
shares as an existing significant stockholder reduces its ownership
position in Vistra, continuing the already substantial rotation of
our stockholder base since our emergence from bankruptcy. The
ability of the company to repurchase 5 million shares at a discount
to the then-prevailing market price, together with concurrent
investments by other institutional investors, is exactly in-line
with Vistra's capital allocation strategy. This repurchase is
an outward indication of our fundamental view of Vistra's
value. We will continue to repurchase shares in the open
market under our $1.25 billion share
repurchase authorization, since we view our shares as the most
attractive place for Vistra to invest its capital."
Media
Allan Koenig
214-875-8004
Media.Relations@vistraenergy.com
Analysts
Molly
Sorg
214-812-0046
Investor@vistraenergy.com
About Vistra Energy
Vistra Energy (NYSE: VST) is a
premier, integrated power company based in Irving, Texas, combining an innovative,
customer-centric approach to retail with a focus on safe, reliable,
and efficient power generation. Through its retail and generation
businesses which include TXU Energy, Homefield Energy, Dynegy, and
Luminant, Vistra operates in 12 states and six of the seven
competitive markets in the U.S., with about 6,000 employees.
Vistra's retail brands serve approximately 2.9 million residential,
commercial, and industrial customers across five top retail states,
and its generation fleet totals approximately 41,000 megawatts of
highly efficient generation capacity, with a diverse portfolio of
natural gas, nuclear, coal, and solar facilities.
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SOURCE Vistra Energy