Delaware Supreme Court Affirms Ruling in Favor of 国产福利资源在线播放 on Litigation Related to Stockholders鈥� Agreement

DALLAS--(BUSINESS WIRE)-- 国产福利资源在线播放 (NYSE: TPL) (鈥淭PL鈥� or the 鈥淐ompany鈥�) announced today that the Delaware Supreme Court (the 鈥淪upreme Court鈥�) affirmed the December 1, 2023 ruling of the Delaware Court of Chancery (the 鈥淐ourt of Chancery鈥�) in favor of TPL in the litigation between the Company and Horizon Kinetics LLC, Horizon Kinetics Asset Management LLC, SoftVest Advisors, LLC and SoftVest, L.P. (collectively, the 鈥淚nvestor Group鈥�), in Horizon Kinetics, LLC, et al. v. 国产福利资源在线播放, (C.A. No. 478, 2023) (Del.).

As previously disclosed, on December 1, 2023, the Court of Chancery issued a post-trial decision ruling in favor of the Company. Specifically, the Court of Chancery ruled that under the terms of the June 2020 Stockholders鈥� Agreement between the Company and the Investor Group, at the Company鈥檚 2022 annual meeting of stockholders, the Investor Group should have voted with the Board鈥檚 recommendation on Proposal 4, the Company鈥檚 proposal to increase the number of authorized shares of common stock, which has been deemed approved by stockholders. On February 26, 2024, the Supreme Court affirmed the Court of Chancery鈥檚 post-trial decision and final judgment in favor of the Company.

国产福利资源在线播放 国产福利资源在线播放

国产福利资源在线播放 (NYSE: TPL) is one of the largest landowners in the State of Texas with approximately 868,000 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 allow revenue generation through the entire value chain of oil and gas development, including through fixed fee payments for use of our land, revenue for sales of materials (caliche) used in the construction of infrastructure, providing sourced water and 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.

TPL Investor Relations
IR@texaspacific.com

Source: 国产福利资源在线播放

Released February 27, 2024