NEW YORK and DENVER, May 22, 2024 /PRNewswire/ -- Kimmeridge, an alternative asset manager focused on the energy sector and the largest shareholder of SilverBow Resources (NYSE: SBOW) ("SilverBow" or the "Company"), today announced the withdrawal of its independent nominees to SilverBow's Board of Directors (the "Board") in light of the Company's pending sale to Crescent Energy.

Kimmeridge (PRNewsfoto/Kimmeridge)

Ben Dell, Co-Founder and Managing Partner of Kimmeridge, said, "While we are disappointed that SilverBow's Board does not appear to have run a comprehensive sales process, our campaign was always underpinned by a strong belief that consolidation is in the best interests of shareholders. That's why we took the time in February to privately outline to the Board eight potential strategic transactions the Company should consider to drive value creation.

We are thankful for the overwhelming support of Kimmeridge's slate of independent Board nominees from the investment community, which helped catalyze this transaction. We believe that the proposed sale of the Company obviates the need for Board change at this time."

About Kimmeridge

Founded in 2012 by Ben Dell, Dr. Neil McMahon and Henry Makansi, Kimmeridge is an alternative asset manager focused on the energy sector. The firm is differentiated by its direct investment approach, deep technical knowledge, active portfolio management, proven sustainability track record and proprietary research and data gathering.

Media

Daniel Yunger / Anntal Silver / Emma Cloyd
Kekst CNC
Kekst-Kimmeridge@kekstcnc.com 

Important Information About the Gold Proxy Card

Gold proxy cards that have been properly signed and returned to Kimmeridge or its agents will be voted as directed, except that any votes for Kimmeridge's nominees on such cards will be disregarded and will not be voted at SilverBow's 2024 Annual Meeting. Any votes marked for the Company's nominees on the gold proxy card will be voted as directed at SilverBow's 2024 Annual Meeting.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/kimmeridge-withdraws-independent-nominees-to-silverbows-board-following-companys-definitive-agreement-with-crescent-energy-302152167.html

SOURCE Kimmeridge

Copyright 2024 PR Newswire

SilverBow Resources (NYSE:SBOW)
Gráfica de Acción Histórica
De May 2024 a Jun 2024 Haga Click aquí para más Gráficas SilverBow Resources.
SilverBow Resources (NYSE:SBOW)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024 Haga Click aquí para más Gráficas SilverBow Resources.