Enduro Royalty Trust Announces Record Date and Meeting Date for Special Unitholder Meeting
July 11 2017 - 4:30PM
Business Wire
Enduro Royalty Trust (NYSE: NDRO) (the “Trust”) today announced
that it has established a record date of July 10, 2017 and a
meeting date of August 30, 2017 for a special meeting of its
unitholders to be held at 10:00 a.m. Central Daylight Time, at 777
Main Street, Concourse Level Meeting Room, Fort Worth, Texas. At
the special meeting, the Trust’s unitholders will consider and act
upon proposals to approve:
- Eight transactions pursuant to which
(a) Enduro Operating LLC will sell its interests in certain oil and
natural gas properties that constitute part of the oil and natural
gas properties burdened by the net profits interest held by the
Trust, (b) the Trust will release the related net profits interest
associated with such oil and natural gas properties, and (c) the
net proceeds received by the Trust with respect to each such sale
will be distributed to the Trust unitholders;
- Amendments to the Amended and Restated
Trust Agreement of the Trust (the “Trust Agreement”) to permit the
transactions;
- Amendments to the Conveyance of Net
Profits Interest to permit the transactions;
- Amendments to the Trust Agreement to
permit costs associated with the special meeting to be paid pro
rata by the Trust and Enduro Resource Partners LLC; and
- An adjournment of the special meeting,
if necessary or appropriate, to permit solicitation of additional
proxies in favor of the above proposals.
The Trust also announced that it has filed a definitive proxy
statement with the Securities and Exchange Commission on July 11,
2017 for the special meeting. Holders of record of Trust units as
of the close of business on July 10, 2017 will be entitled to
receive notice of the special meeting and to vote at the special
meeting.
About Enduro Royalty Trust
Enduro Royalty Trust is a Delaware statutory trust formed by
Enduro Resource Partners to own a net profits interest representing
the right to receive 80% of the net profits from the sale of oil
and natural gas production from certain of Enduro Resource
Partners’ properties in the states of Texas, Louisiana and New
Mexico. As described in the Trust’s filings with the Securities and
Exchange Commission, the amount of the periodic distributions is
expected to fluctuate, depending on the proceeds received by the
Trust as a result of actual production volumes, oil and gas prices,
the amount and timing of capital expenditures, and the Trust’s
administrative expenses, among other factors. Future distributions
are expected to be made on a monthly basis. For additional
information on the Trust, please visit
www.enduroroyaltytrust.com.
Forward-Looking Statements and Cautionary Statements
This press release contains statements that are “forward-looking
statements” within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended. All statements contained in this
press release, other than statements of historical facts, are
“forward-looking statements” for purposes of these provisions.
These forward-looking statements include the amount of any
anticipated distribution to unitholders as a result of the proposed
disposition of certain properties and expected expenses, including
capital expenditures. The anticipated distribution is based, in
large part, on the amount of cash received or expected to be
received by the Trust from Enduro Resource Partners as a result of
the sale of the underlying properties. Other important factors that
could cause actual results to differ materially include expenses of
the Trust and reserves for anticipated future expenses. Statements
made in this press release are qualified by the cautionary
statements made in this press release. Neither Enduro Resource
Partners nor the Trustee intends, and neither assumes any
obligation, to update any of the statements included in this press
release. An investment in units issued by Enduro Royalty Trust is
subject to the risks described in the Trust’s filings with the SEC,
including the risks described in the Trust’s Annual Report on Form
10-K for the year ended December 31, 2016, filed with the SEC on
March 15, 2017. The Trust’s quarterly and other filed reports are
or will be available over the Internet at the SEC’s website at
http://www.sec.gov.
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version on businesswire.com: http://www.businesswire.com/news/home/20170711005434/en/
Enduro Royalty TrustThe Bank of New York Mellon Trust Company,
N.A., as TrusteeSarah Newell, 1-512-236-6555
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