Exhibit 99.1
The following is a description of the relationships among
the Reporting Persons and certain related entities or persons
that may be deemed to beneficially own shares of the class A
common stock, par value $0.01 per share (the "Class A Shares")
of CompX, the issuer.
All of the outstanding voting stock of Contran Corporation
("Contran") is held by the Harold C. Simmons Family Trust No. 2
(the "Family Trust") established for the benefit of Lisa K.
Simmons and Serena Simmons Connelly and their children, for
which Ms. Simmons and Ms. Connelly are co-trustees, or is held
directly by Ms. Simmons and Ms. Connelly or entities related to
them. Ms. Simmons and Ms. Connelly are sisters.
Ms. Simmons and Ms. Connelly also serve as co-chairs of the
Contran board of directors (the "Contran Board"), and one other
member of Contran management also serves on the Contran Board.
As co-trustees of the Family Trust, Ms. Simmons and Ms. Connelly
have the shared power to vote and direct the disposition of the
shares of Contran stock held by the Family Trust, and Ms.
Simmons and Ms. Connelly each has the power to vote and direct
the disposition of shares of Contran stock they hold directly or
which is held by other entities related to them.
Contran is the holder of 100% of the outstanding common
stock of Dixie Rice Agricultural L.L.C.("Dixie Rice")and may be
deemed to control Dixie Rice. Dixie Rice is the direct holder
of 100% of the outstanding common stock of Valhi Holding company
("VHC") and may be deemed to control VHC.
Ms. Simmons and Ms. Connelly directly hold, or are related
to the following persons or entities that directly hold,
the following percentages of the outstanding Class A Shares:
NL....................................................86.6%
Contran........................................Less than 1%
Kronos Worldwide, Inc. ("Kronos Worldwide")... Less than 1%
Serena Simmons Connelly........................Less than 1%
There are no shares of class B common stock of CompX
outstanding.
Ms. Simmons and Ms. Connelly directly hold, or are related
to the following persons or entities that directly hold, the
following percentages of the outstanding shares of NL common
stock:
Valhi, Inc. ("Valhi")................................82.9%
Kronos Worldwide.............................Less than 1%
Serena Simmons Connelly......................Less than 1%
Together, Valhi and Kronos Worldwide may be deemed to control
NL.
Ms. Simmons and Ms. Connelly directly hold, or are related
to the following persons or entities that directly hold,
the following percentages of the outstanding shares of Kronos
Worldwide common stock:
Valhi.................................................50.0%
NLKW Holding LLC ("NLKW").............................30.4%
Contran....................................... Less than 1%
Serena Simmons Connelly........................Less than 1%
Together, Valhi, NL (and its wholly-owned subsidiary NLKW) and
Contran may be deemed to control Kronos Worldwide.
Ms. Simmons and Ms. Connelly directly hold, or are related
to the following persons or entities that directly hold, the
following percentages of the outstanding shares of Valhi common
stock:
VHC...................................................91.5%
Serena Simmons Connelly........................Less than 1%
VHC may be deemed to control Valhi. Contran may be deemed to
control VHC, by virtue of its ownership of Dixie Rice shares.
NL (including a wholly-owned subsidiary of NL) and Kronos
Worldwide own 14,372,970 shares and 1,724,916 shares,
respectively of Valhi common stock. As already stated, Valhi is
the direct holder of approximately 82.9% of the outstanding
shares of common stock of NL and 50.0% of the outstanding shares
of Kronos Worldwide common stock. As a result of Valhi's direct
and indirect ownership of NL and Kronos Worldwide and pursuant
to Delaware law and Section 13(d)(4) of the Exchange Act, Valhi
treats the shares of Valhi common stock that NL and Kronos
Worldwide own as treasury stock for voting purposes. For the
purposes of this statement, such shares of Valhi common stock
that NL and Kronos Worldwide hold are not deemed outstanding.
By virtue of the stock ownership of each of Kronos
Worldwide, NL, Valhi, VHC, Dixie Rice and Contran, the role of
Ms. Simmons and Ms. Connelly as co-trustees of the Family Trust,
Ms. Simmons and Ms. Connelly being beneficiaries of the Family
Trust, the direct holdings of Contran voting stock by each of
Ms. Simmons, Ms. Connelly and entities related to them, the
positions as co-chairs of the Contran Board by each of
Ms. Simmons and Ms. Connelly, in each case as described above,
(a) Ms. Simmons and Ms. Connelly may be deemed to control the
Family Trust, Contran, Dixie Rice, VHC, Valhi, NL, and Kronos
Worldwide and CompX and (b) Ms. Simmons and Ms. Connelly,
Contran, Dixie Rice, VHC, Valhi, NL and Kronos Worldwide may be
deemed to possess indirect beneficial ownership of, and a
pecuniary interest in, shares of common stock directly held by
such entities, including any Class A Shares. However, except
for the 2,000 Class A Shares she holds directly, Ms. Connelly
disclaims beneficial ownership of all Class A Shares, except to
the extent of her pecuniary interest in such Shares, if any. Ms.
Simmons disclaims beneficial ownership of all Class A Shares
except to the extent of her pecuniary interest in such shares,
if any.
