RiskMetrics Recommends Meridian Stockholders Vote "FOR" Merger With Alta Mesa
11 Marzo 2010 - 6:27AM
The Meridian Resource Corporation (NYSE:TMR) today announced that
RiskMetrics Group (formerly Institutional Shareholder Services, or
ISS), an independent proxy advisory firm, recommended that Meridian
Resource stockholders vote "FOR" the proposed merger with Alta Mesa
Holdings.
In recommending that Meridian's stockholders vote "FOR" the
proposed merger, RiskMetrics Group stated in its conclusion: "Given
the financial condition of the company, the robust strategic
process undertaken, and the potential downside of not approving
this transaction, it is recommended that shareholders support the
merger agreement with Alta Mesa." RiskMetrics Group provides voting
advice to hundreds of institutional investors, mutual and pension
funds and other fiduciaries.
Additionally, two other proxy advisory firms, Egan-Jones Proxy
Services and PROXY Governance, Inc. also recommended the
stockholders vote "FOR" the proposed merger.
The stockholder vote on the transaction will take place at a
special meeting to be held Tuesday, March 30, 2010 at 10:00 a.m.,
central time, at the offices of Fulbright & Jaworski L.L.P.,
1301 McKinney in Houston, Texas. Meridian's shareholders of record
as of the close of business on February 8, 2010 will be
entitled to notice of, and to vote at, the special meeting.
The shareholder's vote on this merger is very important.
A failure to cast any vote on the merger proposal will have the
same effect as a vote against the proposal. Therefore, regardless
of the number of shares you own, it is important they be
represented at the meeting.
VOTE BY TOUCHTONE PHONE: Shareholders may cast their votes by
calling the toll-free number on the proxy card they received in the
mail. Follow the instructions on the proxy card to cast your
ballot.
VOTE THROUGH THE INTERNET: Shareholders may cast their votes by
logging into the Internet address located on the proxy card they
received and follow the instructions on the website.
VOTE BY MAIL: Shareholders may cast their votes by mail by
signing, dating and mailing the proxy card they received in the
postage-prepaid return envelope provided.
If you have any questions relating to the special meeting,
voting your shares, or need to request additional proxy materials,
you may call our proxy solicitation advisors, The Altman Group,
toll-free at (877) 864-5052 between the hours of 9:00 a.m. and
10:00 p.m. Eastern Time, Monday through Friday.
Forward-Looking Statements
Statements identified by the words "expects," "plans," and
certain of the other foregoing statements may be deemed
"forward-looking statements." Although Meridian believes that the
expectations reflected in such forward-looking statements are
reasonable, these statements involve risks and uncertainties
regarding the transactions described that may cause actual future
activities and results to be materially different from those
suggested or described in this press release. Risks and
uncertainties regarding the proposed merger with Alta Mesa
Holdings, LP and the other transactions described include, but are
not limited to, the possibility that the closing of the merger does
not occur, either due to the failure of closing conditions,
including the approval of the shareholders of Meridian, rights of
the parties to terminate the merger agreement, or other reasons,
risks that the merger disrupts current plans and operations and the
potential difficulties in employee retention as a result of the
merger, the outcome of legal proceedings that have been, or may be,
initiated against Meridian related to the merger and the amount of
the costs, fees, expenses and charges related to the merger. Other
risks relating to Meridian are described in Meridian's documents
and reports, available from the U.S. Securities and Exchange
Commission, including the report filed on Form 10-K, as amended,
for the year ended December 31, 2008 and any updates to those
factors set forth in our subsequent Quarterly Reports on Form 10-Q,
including risks associated with our default under our credit
facility and other lending arrangements.
About Meridian
The Meridian Resource Corporation is an independent oil and
natural gas company that explores for, acquires and develops oil
and natural gas properties. Through its wholly owned subsidiaries,
Meridian holds interests primarily in the onshore oil and natural
gas regions of south Louisiana and Texas and offshore in the Gulf
of Mexico.
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CONTACT: The Meridian Resource Corporation
Lance L. Weaver
(281) 597-7125
lweaver@tmrx.com
www.tmrc.com
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