TPG-Axon Could Sell SandRidge's Offshore Assets, Infrastructure
TPG-Axon, beneficial owner of 6.7% of the outstanding shares of SandRidge Energy, Inc. (NYSE: SD) (the “Company”), today posted a presentation, entitled Creating Value at SandRidge Energy, to www.Shareholdersforsandridge.com that outlines, among other items, the following:
* The current management team's record of massive value destruction; * TPG-Axon's belief in the underlying value of the Company; * What TPG-Axon believes must be done to unlock that value; and * TPG-Axon's point-by-point response to SandRidge's defensive and misleading claims.
TPG-Axon encourages all SandRidge stockholders to review its presentation.
TPG-Axon urges SandRidge stockholders of record, as of December 13, 2012, to vote the GREEN consent card in favor of its 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 requests 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.
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