Buybacks or Ads?

EDGAR 14A

How much did these cost?

Twitter ad

On April 10, 2019, Texas Pacific Land Trust issued the following online advertisements to Facebook.com, Twitter.com and Google.com:

Advertisement 1 (Facebook.com)

For over 130 years, TPL has been there for shareholders, generating tremendous long-term value from its uniquely Texan assets. Today, the future of your investment is in jeopardy, but you have the power to save it.

Shareholders: vote FOR General Donald Cook using the BLUE proxy card.

Protect your Trust. Trust General Cook.

Advertisement 2 (Facebook.com)

There’s a storm on the horizon. Texas Pacific Land Trust and its legacy of value creation are under threat by a dissident group putting its own interests before those of other shareholders.

Retired 4-star General Donald Cook is the ONLY candidate who will advance TPL’s strategy for the benefit of ALL shareholders.

Make your voice heard. Vote FOR General Cook on the BLUE card.

Protect your Trust. Trust General Cook.

Advertisement 3 (Facebook.com)

Texas Pacific Land Trust is a vital part of Texas’ history. Through careful stewardship, TPL has delivered total shareholder returns of ~733% since 2014 that have enhanced our investors’ futures. Help us secure this growth for years to come.

Vote FOR four-star General Don Cook on the BLUE proxy card.

Protect your Trust. Trust General Cook.

Advertisement 4 (Twitter.com)

For over 130 years, TPL has been there for its shareholders. But today, the future of your investment is in jeopardy. You have the power to save it.

Vote FOR General Donald Cook using the BLUE proxy card.

Protect your Trust. Trust General Cook.

http://www.trusttpl.com

Advertisement 5 (Twitter.com)

There’s a storm on the horizon. TPL is under threat by a dissident, self-serving group. General Don Cook is the ONLY candidate who will advance TPL’s strategy for ALL shareholders.

Make your voice heard. Vote FOR Cook on the BLUE card.

Protect your Trust.

http://www.trusttpl.com

Advertisement 6 (Twitter.com) 

TPL is a vital part of Texas. Through careful stewardship, we’ve delivered total shareholder returns of ~733% since 2014. Help us secure this growth for years to come. Vote FOR General Don Cook on the BLUE proxy card.

Protect your Trust. Trust General Cook.

http://www.trusttpl.com

Advertisement 7 (Google.com) 

Texas Pacific Land Trust

Proven strategy is now at risk

Vote for Gen Cook on BLUE Card

TPL outperformed the market with returns of 733% since 2014. More than Apple or Amazon!

TPL is vital to Texas history

https://www.trusttpl.com/

Advertisement 8 (Google.com) 

Texas Pacific Land Trust

Protect your Trust

Make your voice heard!

General Don Cook is the only choice to protect shareholder value

Vote for General Cook on the BLUE proxy card by phone, internet, or mail by May 22

https://www.trusttpl.com/make-your-voice-heard

Advertisement 9 (Google.com) 

Texas Pacific Land Trust

Protect your Trust

Trust the General

The future of your investment is in your hands! Vote for General Cook on the BLUE card

You have the opportunity to make a difference and have your voice heard

https://www.trusttpl.com/make-your-voice-heard

Advertisement 10 (Google.com)

Texas Pacific Land Trust

Protect your Trust

Proven strategy is now at risk

Gen. Don Cook is the best choice to continue years of proven success and long term value

You have the power to make your voice heard! Choose General Cook on the BLUE proxy card

https://www.trusttpl.com/make-your-voice-heard

19 thoughts on “Buybacks or Ads?

  1. Could we all please call John Norris and David Barry and tell them to stop this. They are spending are money with reckless abandon. Please call them like I have and tell them to stop this madness.

    Please call this needs to stop.

    Liked by 2 people

  2. John Norris (214) 521-1520
    David Barry (914) 645-1893

    John Norris number is his office at his Law Firm
    David Barry is his number in New York.

    Please call like I did and state your displeasure. They will spend probably 2 to 3 million on this. What a waste.

    You will have to call John Norris like 20 times before will call you back. Also I represent a big block of the units and he finally called me back.

    Liked by 2 people

  3. They keep saying that Eric isn’t good for ALL shareholders.

    I have been in the investment business for over 10 years and ever time I hear the word ALL shareholders I have to throw up. It is clear to me that David Barry and John Norris are in over their heads.

    It didn’t even sound like to me that John Norris had much to say about what has happen in the last year.
    There was some big deals done that I questioned him about and he didn’t even know about them.

    End of story Texas Pacific isn’t this sleepy trust anymore. It owns assets in one of the best if not the best world class Oil and gas assets in the whole world.

    You should ask yourself this question. Do you want two lawyers dictating what is done with some of the best world class assets in the world or do you want someone with Oil and Gas experience to help make the decisions?

    The chose is clear to me. Eric is the one who has the most experience.

    Also the way they are fighting Eric is very telling that they are afraid of being exposed for there lack of knowledge.

    Anybody that would agree to sell the legacy royalties should be fired and from what I have been told they all agreed to sell some of the legacy royalties to Chevron.

    Liked by 2 people

  4. No disrespect to Gen. Cook, but the TPL board are in denial about fighting a last-ditch battle, throwing good money after bad. (Fellas, I love “The Alamo” with John Wayne and Richard Widmark, but no need to re-enact here!) The advertising is just doubling down on an insufficient ticket and further pissing off shareholders. Jeez, how tone-deaf are these guys or their big new legal team? They should have called in Oliver long ago for a two-day sitdown to go over all his ideas, and incorporated the ones they liked best. Every step they make now only proves to me that they are not deep strategic thinkers.

    Liked by 1 person

  5. Thanks Phatom for the numbers of the directors….will call and indicate my displeasure tomorrow. The media campaign is most disappointing when you consider its OUR shareholder money. Fortunately Twitter is free and seems to be much of their campaign, but the people writing the pithy soundbites are well fed.

    Liked by 1 person

  6. This is what self serving greed looks like. We need good honest stewardship , this is not it. We should hold them personally liable for their careless and reckless actions and demand they reimburse the trust personally !!!

    Liked by 2 people

  7. Norris and Barry should be held personally liable for their careless and reckless behavior. Shareholders should demand they reimburse the trust personally for their gross negligence.
    We need good stewardship, this is not it.

    Liked by 2 people

  8. Wow, this campaign being launched by TPL (and its pricey lawyers and PR) is making me ill. Nothing but fear mongering and fake regard for shareholders. Here’s the add that really irks me: “… Under threat by a dissident group putting its own interest before those of other shareholders.” Really? Please enlighten me how these long-time investors are planning to screw us little guys? It seems so apparent that the opposite is true. Everything they are doing is securing more votes for Mr. Oliver. Please stop the insanity.

    Liked by 2 people

  9. So on the one hand, we have the incumbents who own virtually no shares, and who are pushing for governance to remain the same. Shareholder meetings and votes only upon the death or resignation of a trustee (aka 4x in the past 30 years)

    On the other hand, we have a group that have enormous stakes in the company, which they’ve held for 1 to 3 decades, and who simply want to move to annual elections of directors instead of lifetime trustee appointments.

    I wonder who Glass Lewis and ISS will side with…

    Liked by 2 people

  10. I just spoke with David Barry. He actually picked up the phone. I made the point that I was very unhappy with the way that they were going about this and wasting money. He said Eric Oliver would ruin the company and that Murray stahl would not accept any compromise candidates. He kept coming back to the stock performance being because of great management. The only good thing that came out of it was he said that they were going to have to change the three trustees for life deal but it took time. This is my biggest issue. So I suspect we will see something proposed before the vote. After watching the listening to the TPL people I am reminded of the saying “ born on third base and think they hit a triple “

    Liked by 1 person

  11. @Joe. Thanks for sharing your conversation with Mr. Barry and interesting to hear that possible change might be coming regarding the three trustees for life setup. Kudos to him for engaging with a shareholder. Can you elaborate on why he thinks Eric Oliver would ruin the company? Does he know something to be fact about an ulterior motive, or did it just sound like fear mongering and speculation?

    Liked by 1 person

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