TPG-Axon, beneficial owner of 6.7% of the outstanding shares of
SandRidge Energy, Inc. (NYSE: SD) (the “Company”), today posted a
presentation, entitled Creating Value at SandRidge Energy, to www.Shareholdersforsandridge.com
that outlines, among other items, the following:
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The current management team’s record of massive value destruction;
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TPG-Axon’s belief in the underlying value of the Company;
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What TPG-Axon believes must be done to unlock that value; and
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TPG-Axon’s point-by-point response to SandRidge’s defensive and
misleading claims.
TPG-Axon encourages all SandRidge stockholders to review its
presentation.
TPG-Axon urges SandRidge stockholders of record, as of December 13,
2012, to vote the GREEN consent card in favor of its proposals to
amend the Company’s bylaws, remove all members of the current Board of
Directors and replace them with its slate of highly qualified director
nominees. TPG-Axon requests that stockholders return their signed and
dated GREEN consent cards by February 28, 2013, to ensure that
their consent cards are received by SandRidge prior to March 15, 2013,
the deadline for submitting consents.
For information on TPG-Axon’s proposals and on the process for voting
shares in favor of those proposals, go to www.Shareholdersforsandridge.com.
About TPG-Axon Capital
TPG-Axon Capital is a leading global investment firm. Through offices in
New York, London, Hong Kong and Tokyo, TPG-Axon invests across global
markets and asset classes.
TPG-AXON MANAGEMENT LP, TPG-AXON PARTNERS GP, L.P., TPG-AXON GP, LLC,
TPG-AXON PARTNERS, LP, TPG-AXON INTERNATIONAL, L.P., TPG-AXON
INTERNATIONAL GP, LLC, DINAKAR SINGH LLC AND DINAKAR SINGH
(COLLECTIVELY, “TPG-AXON”) HAS FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION (THE “SEC”) A DEFINITIVE CONSENT STATEMENT AND ACCOMPANYING
CONSENT CARD TO BE USED TO SOLICIT WRITTEN CONSENTS FROM THE
STOCKHOLDERS OF SANDRIDGE ENERGY, INC. IN CONNECTION WITH TPG-AXON'S
INTENT TO TAKE CORPORATE ACTION BY WRITTEN CONSENT. ALL STOCKHOLDERS OF
SANDRIDGE ENERGY, INC. ARE ADVISED TO READ THE DEFINITIVE CONSENT
STATEMENT AND OTHER DOCUMENTS RELATED TO THE SOLICITATION OF WRITTEN
CONSENTS BY TPG-AXON, STEPHEN C. BEASLEY, EDWARD W. MONEYPENNY, FREDRIC
G. REYNOLDS, PETER H. ROTHSCHILD, ALAN J. WEBER AND DAN A. WESTBROOK
(COLLECTIVELY, THE "PARTICIPANTS") FROM THE STOCKHOLDERS OF SANDRIDGE
ENERGY, INC. BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING
ADDITIONAL INFORMATION RELATED TO THE PARTICIPANTS. THE DEFINITIVE
CONSENT STATEMENT AND FORM OF WRITTEN CONSENT HAVE BEEN FURNISHED TO
SOME OR ALL OF THE STOCKHOLDERS OF SANDRIDGE ENERGY, INC. AND ARE, ALONG
WITH OTHER RELEVANT DOCUMENTS, AVAILABLE AT NO CHARGE ON THE SEC'S WEB
SITE AT HTTP://WWW.SEC.GOV.
IN ADDITION, TPG-AXON WILL PROVIDE COPIES OF THE DEFINITIVE CONSENT
STATEMENT AND ACCOMPANYING CONSENT CARD WITHOUT CHARGE UPON REQUEST.
INFORMATION ABOUT THE PARTICIPANTS AND A DESCRIPTION OF THEIR DIRECT OR
INDIRECT INTERESTS BY SECURITY HOLDINGS IS CONTAINED IN THE DEFINITIVE
CONSENT STATEMENT ON SCHEDULE 14A FILED BY TPG-AXON WITH THE SEC ON
JANUARY 18, 2013. THIS DOCUMENT CAN BE OBTAINED FREE OF CHARGE FROM THE
SOURCES INDICATED ABOVE.
