DALLAS, May 5, 2022
/PRNewswire/ -- Permian Basin Royalty Trust (NYSE: PBT) (the
"Trust") today announced that, at a special meeting of the Trust's
unitholders held May 4, 2022, the
unitholders of the Trust voted to approve the proposals set forth
in the Trust's definitive proxy statement, including the
appointment of Argent Trust Company as successor trustee to serve
as trustee of the Trust once the resignation of Simmons Bank, the current Trustee of the Trust,
takes effect and approval of related amendments to the Trust
Indenture of the Trust. The effective date of the Trustee's
resignation will depend on the satisfaction or waiver of the
conditions set forth in the Trustee's notice of resignation and the
Trust's definitive proxy statement, including approval by certain
other trusts of which Simmons Bank
acts as trustee (or a court) of (i) Argent's appointment as
successor trustee and (ii) any amendments to the trust
agreements and indentures of the other trusts (whether by
unitholder approval or a court) necessary to permit Argent to serve
as successor trustee.
Forward-looking Statements
Any statements in this press release about plans for the Trust,
the expected timing of the completion (if any) of the proposed
resignation of the Trustee or appointment of a successor trustee,
and other statements containing the words "estimates," "believes,"
"anticipates," "plans," "expects," "will," "may," "intends" and
similar expressions, other than historical facts, constitute
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Factors or risks that could cause the Trust's actual results to
differ materially from the results we anticipate include, but are
not limited to the inability of the Trustee to resign or Argent
Trust Company to assume duties as successor trustee due to the
failure to obtain necessary unitholder or court approval or the
failure to satisfy other conditions to the Trustee's resignation
set forth in the Trustee's notice of resignation and the Trust's
definitive proxy statement.
Actual results may differ materially from those indicated by
such forward-looking statements. In addition, the forward-looking
statements included in this press release represent the Trustee's
views as of the date hereof. The Trustee anticipates that
subsequent events and developments may cause its views to change.
However, while the Trustee may elect to update these
forward-looking statements at some point in the future, it
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing the Trustee's views as of any date subsequent to the
date hereof.
Contact:
Ron Hooper - SVP, Royalty Trust
Services
Simmons Bank
Toll Free (855) 588-7839
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SOURCE Permian Basin Royalty Trust