Texas Pacific Land Trust today issued a statement from Trustee nominee
General Donald “Don” G. Cook:
“As I have shared with shareholders in my many conversations and in my
video message, I am committed to working with the other Trustees to
enhance corporate governance at TPL if I am elected. When I served as
the Chair of the Nominating & Governance Committee at Crane Company, I
led the process to shift from a classified board to holding annual
elections for all directors, and I recognize the importance of regular
elections to ensure that directors are accountable to shareholders.
“TPL’s founding document dictates that its trustees serve without a
specified term, and that is one of multiple factors the Trustees need to
consider in determining any future changes to TPL’s governance
structure. If elected to serve as TPL’s next Trustee, I would serve as a
change agent, bringing deep expertise in corporate governance to help in
that process.
“If elected, I commit to resigning as a Trustee after no more than three
years, at which point I would stand for reelection if I am renominated,
creating the opportunity for shareholders to weigh in on my performance.
Three years is enough time to carefully evaluate and begin to implement
changes to TPL’s governance.”
The Trust urges shareholders to vote FOR four-star General Donald “Don”
G. Cook using the BLUE proxy card. Shareholders can also read more
information by visiting www.TrustTPL.com.
If you have any questions or need assistance in voting your shares,
please contact the Trust’s proxy solicitor:
MacKenzie Partners
1407 Broadway, 27th Floor
New York, New
York 10018
(212) 929-5500 or call Toll-Free (800) 322-2885
Email:
proxy@mackenziepartners.com
Forward-Looking Statements
This release may contain statements that are “forward-looking
statements” within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. All statements contained in this release, other than
statements of historical fact, are “forward-looking statements” for
purposes of these provisions, including statements regarding Texas
Pacific’s future operations and prospects, the markets for real estate
in the areas in which Texas Pacific owns real estate, applicable zoning
regulations, the markets for oil and gas, production limits on prorated
oil and gas wells authorized by the Railroad Commission of Texas,
expected competitions, management’s intent, beliefs or current
expectations with respect to Texas Pacific’s future financial
performance and other matters. Texas Pacific cautions readers that
various factors could cause its actual financial and operational results
to differ materially from those indicated by forward-looking statements
made from time-to-time in news releases, reports, proxy statements and
other written communications, as well as oral statements made from time
to time by representatives of Texas Pacific. The following factors, as
well as any other cautionary language included in this release, provide
examples of risks, uncertainties and events beyond our control that may
cause Texas Pacific’s actual results to differ materially from the
expectations Texas Pacific describes in such forward-looking statements:
global economic conditions; market prices of oil and gas; the demand for
water services by operators in the Permian Basin; the impact of
government regulation; the impact of competition; the continued service
of key management personnel; and other risks and uncertainties disclosed
in Texas Pacific’s annual reports on Form 10-K and quarterly reports on
Form 10-Q. We undertake no obligation to update publicly or otherwise
revise any forward-looking statements, whether as a result of new
information, future events or other factors that affect the subject of
these statements, except where we are expressly required to do so by law.
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