SandRidge's TPG-Axon Files Definitive Consent Statement with SEC
TPG-Axon, beneficial owner of 6.7% of the outstanding shares of SandRidge Energy, Inc. (NYSE: SD) (the “Company”), today announced that its definitive consent statement was filed with the U.S. Securities and Exchange Commission (the “SEC”).
In its definitive consent statement, TPG-Axon confirmed that it intends to deliver its official consent to the Company today, effectively starting the 60 day time period during which SandRidge stockholders of record, as of December 13, 2012, can vote in favor of TPG-Axon's proposals to amend the Company's bylaws, remove all members of the current Board of Directors and replace them with its slate of highly qualified director nominees. TPG-Axon is requesting that stockholders return their signed and dated GREEN consent cards by February 28, 2013, to ensure that their consent cards are received by SandRidge prior to March 15, 2013, the deadline for submitting consents.
As a result of filing its definitive consent statement with the SEC, TPG-Axon's proxy solicitor, MacKenzie Partners, will soon mail consent solicitation materials to certain SandRidge stockholders of record as of December 13, 2012. TPG-Axon urges SandRidge stockholders to vote the GREEN Consent Card in favor of its proposals and to refrain from returning the white consent card to be issued by SandRidge. Any consents not delivered will count as votes against TPG-Axon's proposals, per SandRidge's bylaws, as amended on November 19, 2012.
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