Texas Pacific Land Corporation to Further Adjourn 2022 Annual Meeting of Stockholders
January 24 2023 - 6:00PM
Business Wire
Texas Pacific Land Corporation (NYSE: TPL) (the “Company” or
“TPL”) today announced that it intends to further adjourn its 2022
annual meeting of stockholders (as further adjourned, the “2022
Annual Meeting”). The 2022 Annual Meeting, which had originally
been adjourned to February 14, 2023, will be further adjourned to
May 18, 2023 at 10:30 am Central Time at the Company’s offices
located at 1700 Pacific Avenue, Suite 2900, Dallas, Texas.
The Delaware Court of Chancery has set a one-day trial currently
scheduled to be held on April 17, 2023 to hear arguments regarding
the Company’s disagreement with Horizon Kinetics LLC, Horizon
Kinetics Asset Management LLC, SoftVest Advisors LLC, and SoftVest,
L.P. over their voting commitments pursuant to a stockholders’
agreement with the Company. The adjournment of the 2022 Annual
Meeting is intended to provide the Delaware Court of Chancery
sufficient time to issue a ruling and stockholders the opportunity
to evaluate such ruling prior to the Company reconvening the 2022
Annual Meeting.
The 2022 Annual Meeting will reconvene on February 14, 2023 only
to immediately further adjourn without conducting any other
business; accordingly, the Company recommends stockholders not
attend on February 14, 2023. A revised notice for the 2022 Annual
Meeting will be sent to stockholders in due course. The record date
for the 2022 Annual Meeting remains the close of business on
September 22, 2022.
If you have any questions about this announcement, please
contact Investor Relations at 1700 Pacific Avenue, Suite 2900,
Dallas, Texas, 75201 or IR@texaspacific.com.
About Texas Pacific Land Corporation
Texas Pacific Land Corporation is one of the largest landowners
in the State of Texas with approximately 880,000 acres of land in
West Texas, with the majority of its ownership concentrated in the
Permian Basin. The Company is not an oil and gas producer, but its
surface and royalty ownership provide revenue opportunities
throughout the life cycle of a well. These revenue opportunities
include fixed fee payments for use of our land, revenue for sales
of materials (caliche) used in the construction of infrastructure,
providing sourced water and/or treated produced water, revenue from
our oil and gas royalty interests, and revenues related to
saltwater disposal on our land. The Company also generates revenue
from pipeline, power line and utility easements, commercial leases
and temporary permits related to a variety of land uses including
midstream infrastructure projects and hydrocarbon processing
facilities.
Visit TPL at http://www.TexasPacific.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230124006107/en/
Investor Relations IR@TexasPacific.com
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