Conversion Exploration Committee of Texas Pacific Land Trust Provides October Update
October 31 2019 - 6:00PM
Business Wire
The Conversion Exploration Committee (the “Committee”) of Texas
Pacific Land Trust (NYSE: TPL) (the “Trust” or “TPL”) today
provided the second in a series of updates on its
deliberations.
The Committee has continued to meet with its advisors, including
Credit Suisse, which is assisting the Trust and the Committee in
developing its recommendation to the Trustees. The Committee has
met 5 times, both in person and over the phone, since its
inception, and deliberations to date have been productive and
informative. Although its deliberations are confidential, the
Committee will continue to provide monthly progress reports to
shareholders as required by its Charter before issuing a final
recommendation to the Trustees.
About Texas Pacific Land Trust
Texas Pacific Land Trust is one of the largest landowners in the
State of Texas with approximately 900,000 acres of land in West
Texas. The Trust was organized under a Declaration of Trust to
receive and hold title to extensive tracts of land in the State of
Texas, previously the property of the Texas and Pacific Railway
Company, and to issue transferable Certificates of Proprietary
Interest pro rata to the holders of certain debt securities of the
Texas and Pacific Railway Company. Texas Pacific Land Trust’s
trustees are empowered under the Declaration of Trust to manage the
lands with all the powers of an absolute owner.
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Abernathy MacGregor Sydney Isaacs / Jeremy Jacobs (713) 343-0427
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