December Conversion Committee Update

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https://www.tpltrust.com/investors/news-events/press-releases/detail/99/conversion-exploration-committee-of-texas-pacific-land

Deadline extended. Looks like progress.

The Committee has continued its work following its update release of December 4 and is continuing to consult with the Trust’s advisors regarding steps to effectuate the Trust’s conversion or reorganization to a corporate structure. As part of this work, the Committee has been evaluating corporate governance terms that may be reflected in the organizational documents of the resulting corporation to be proposed as part of the Committee’s final recommendations to the Trustees. In light of the Committee’s positive ongoing deliberations, the Committee has extended its term through the end of January 2020.

Have a cool Yule! Wishing you all prosperity in 2020.

4 thoughts on “December Conversion Committee Update”

  1. Agreed. This is progress and frankly moving in the right direction. We have a few catalysts in 1Q 2020: 1) Update on C-Corp status 2) Possible massive dividend or tendor offer of $20 or more per share (the Trust has $350m of cash on the balance sheet right now) and 3) earnings with higher oil prices

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  3. Hey TPL Blogger, wanted to share a fun little nugget I found from a Warren Buffett speech at the University of Florida (circa 1990s?). Buffett was asked about real estate and then he specifically calls out TPL as an example of a company that investors incorrectly value by using their recent per acre sale price and applying it to the rest of the land to come up with crazy valuations. Here’s a link to where he starts talking about TPL: https://www.youtube.com/watch?v=2MHIcabnjrA&feature=youtu.be&t=4638

    Anyways, I got a kick out of this and thought it was interesting to hear Buffett’s perspective on how he would value TPL. Happy New Year everyone!

    Liked by 1 person

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