Silverbow Assets adopts limited-term stockholder rights plan


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The Board of Administrators takes motion to guard long-term worth for all stockholders in response to vital third-party inventory accumulation

HOUSTON–(BUSINESS WIRE)–Silverbow Assets, Inc. (NYSE: SBOW) (“Silverbow” or the “Firm”) as we speak introduced that its Board of Administrators (“Board”) has unanimously adopted Restricted-Time period Stockholders. Rights Plan (“Rights Plan”) to guard the pursuits of all shareholders. The Rights Scheme has come into drive with fast impact.

In response to the latest vital accumulation of a portion of Silverbow excellent frequent inventory, the Board adopted the Rights Plan. The Rights Scheme is just like different rights plans adopted by publicly held firms, and goals to advertise honest and equal remedy of all shareholders. The Rights Plan is designed to allow all firm stockholders to comprehend the long-term worth of their investments and is meant to allow Silverbow and its stockholders to realize management of the corporate and not using a single stockholder or group paying a controlling premium. efforts are to be prevented.

Marcus C. Rowland, Unbiased Chairman of the Board, stated: “The Board of Silverbow is dedicated to performing in one of the best curiosity of all shareholders of the Firm, and we imagine will proceed to take actions that promote long-term worth. The Rights Plan has been devised to make sure that traders notice the total worth of their investments and obtain honest and equitable remedy.”

Further Data on the Shareholder Rights Plan

The rights will be exercised provided that a person or group acquires 15% or extra of the corporate’s excellent frequent inventory. Every proper would entitle stockholders to buy one-thousandth of a brand new sequence of junior collaborating most well-liked inventory at an train value of $160.00.

If a person or group acquires 15% of the Firm’s excellent frequent inventory, every proper shall give its holder (aside from such particular person or members of such group) the appropriate to buy, for $160.00, a lot of Firm’s frequent shares whose market worth is that this Type of double the value. Additional, after a person or group has acquired 15% of the excellent frequent inventory of the corporate, the board of administrators of the corporate might alternate a portion of the frequent inventory of the corporate for every excellent proper (of such particular person or group). aside from the possession rights, which might have change into void).

Previous to the acquisition by a person or group of useful possession of 15% of the frequent inventory of the Firm, the rights on the choice of the Board of Administrators could also be redeemed for one % per proper.

Sure artificial curiosity in securities created by spinoff positions—whether or not or not such pursuits are handled as useful possession of the underlying frequent inventory for reporting functions beneath Regulation 13D of the Securities Change Act, shall be deemed useful possession of a lot of shares thought-about as. The Firm’s frequent inventory is held by counterparties to spinoff contracts, straight or not directly, to the extent of the particular shares of the Firm’s inventory, equal to the financial threat created by the spinoff place.

Dividend distribution might be made on October 5, 2022, which might be payable to the stockholders on that date and isn’t taxable to the stockholders. Rights shall stop to exist on the primary day after the date of the primary annual assembly of the shareholders of the Firm on (i) the shut of enterprise and (ii) June 30, 2023, after the date of the Rights Plan, except the rights are first redeemed or exchanged. is finished.

A duplicate of the Stockholder Rights Plan might be filed with the Securities and Change Fee in Kind 8-Ok.

About Silverbow Assets, Inc.

Silverbow Assets, Inc. (NYSE: SBOW) is a Houston-based power firm actively engaged in oil and fuel exploration, growth, and manufacturing at Eagle Ford Shale and Austin Chalk in South Texas. With a historical past of greater than 30 years of operations in South Texas, the corporate has a big understanding of regional reservists to assemble high-quality drilling stock whereas frequently rising its operations to maximise return on capital invested. takes benefit of. Please go to for extra data. Data on the corporate’s web site shouldn’t be a part of this launch.

forward-looking statements

This launch comprises “forward-looking statements” inside the that means of part 27A of the Securities Act 1933 and part 21E of the amended Securities Change Act of 1934. These forward-looking statements signify administration’s expectations or beliefs relating to future occasions, and it’s doable that the outcomes described on this launch won’t be achieved. These forward-looking statements are based mostly on present expectations and assumptions and are topic to a lot of dangers and uncertainties, a lot of that are past our management. All statements aside from statements of historic reality contained on this press launch, together with our technique, the advantages and results of the rights plan, relationship with shareholders, planning and administration’s goals, are forward-looking statements. When used on this report, the phrases “will,” “might,” “imagine,” “estimate,” “intend,” “estimate,” “finances,” “steering,” “count on,” ” “Could,” “proceed,” “forecast,” “seemingly,” “plan,” “challenge” and related expressions are meant to establish forward-looking statements, though all forward-looking statements might comprise such identifiable Necessary elements that would trigger precise outcomes to vary materially from our expectations embody, however aren’t restricted to, the next dangers and uncertainties: the severity and length of world well being occasions and associated financial penalties, Motion by members of the Petroleum Group Exporting International locations (“OPEC”) and Russia, common financial and political situations, our acquisition technique, rates of interest, inflationary pressures, a common financial downturn or recession, political tensions or wars, dangers associated to acquisitions, operational Challenges, volatility in pure fuel, oil and NGL costs, future money flows and our ongoing operations, liquidity, borrowing capability and future prospects. adequacy to take care of covenant compliance, working outcomes, asset disposal effort or the timing or consequence thereof, ongoing and potential joint ventures, capital expenditures, losses, availability, price and capital situations, timing and length of profitable drilling and accomplished wells Availability and prices for transportation of ions, oil and pure fuel, prices of exploiting and creating our property and different operations, competitors within the oil and pure fuel business, alternatives to monetize property, our potential to execute strategic initiatives, effectiveness about our threat administration actions, authorities regulation, and different dangers and uncertainties mentioned within the firm’s report filed with the SEC, together with its annual report on Kind 10-Ok for the 12 months ended December 31, 2021 (“Annual Report “), and subsequent quarterly stories on Kind 10-Q and present stories on Kind 8-Ok.

All forward-looking statements communicate solely as of the date of difficulty of this information. You shouldn’t place undue reliance on these forward-looking statements. The Firm’s capital finances, working plan, service price outlook and growth plans are topic to vary at any time. Whereas we imagine that our plans, intentions and expectations mirrored or instructed within the forward-looking statements made by us on this launch are cheap, we can not present any assurance that these plans, intentions or expectations might be achieved. The danger elements and different elements set forth right here and within the Firm’s SEC filings might trigger its precise outcomes to vary materially from these contained in any forward-looking statements. These warning statements are all forward-looking statements attributable to us or individuals performing on our behalf.

All subsequent written and oral forward-looking statements are totally certified as expressly by the foregoing, attributable to us or individuals performing on our behalf. We undertake no obligation to publicly launch the outcomes of any revisions to replicate occasions or circumstances after the date of this launch or to replicate the prevalence of drive majeure occasions, besides as required by legislation. to be performed.

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(281) 874-2700, (888) 991-SBOW

Supply: Silverbow Assets, Inc.


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