https://ir.stockpr.com/tpltrust/sec-filings-email/content/0001104659-23-062322/tm2316194d1_8k.htm
Prop 4 tally looks a bit worse than what we heard at the trial. Very unpopular among those that didn’t lean on proxy advisers.
Anyone paying attention hates #4. The board doesn’t care. They told you that again today.
Late update:
The Texas Pacific Land Trust Investor 
“If the Investor Group had voted their 1,587,902 shares in support of Proposal 4, as the Company believes they are required to do pursuant to the voting commitments in their stockholders’ agreement with the Company, the proposal would have been approved. The outcome of the Delaware Action may change the aforementioned voting results.” Yes – Yes they did
LikeLiked by 1 person
It wasn’t adjourned as the court indicated that it couldn’t be, so I consider it closed.
LikeLiked by 1 person
not being adjourned means it must be closed? right?
LikeLike
I think so. Not sure what the protocol is. This is the first time I’ve ever invested in a company that adjourned a meeting because they lost a vote.
LikeLike
Interesting….it doesn’t say either way if it was adjourned or not and held open for a future date. I tend to think its now a closed 2022 annual meeting for two reasons: 1) They probably would have to say in the disclosure today it was deferred again, 2) Judge Laster was very clear continuing to move the annual meeting date was not supported by Delaware corporate law. If they kept it open I’d expect an answer from Team HK/SV to be filed tomorrow.
Fascinating the daily vote count with a dramatic effect by Glass Lewis on the no votes for Proposal 4, they increased by 197,845 additional after May 9th, when they recommended to vote no.
This opens up the entire election as being tainted. The recommendation by Glass Lewis was made initially because they were mislead. At trial when this came out, they changed their recommendation to no. One could successfully argue with only 8 days before the meeting today, not everyone had the information about the “false and misleading” information to change their vote.
Team HK/SV has a strong argument here to be made.
LikeLiked by 1 person
Not to mention the turnover of the shares. Those that voted but sold don’t really care to change their votes.
LikeLiked by 1 person
And, how much extra in legal fees has TPL wasted in posting this dribble with the SEC?
LikeLike
Where are they getting the million + shares. The board doesn’t own much. These shareholders need to wake up. Look how much the stock is down since this nonsense.
LikeLike
I am sure Blackrock and Vangaurd simply vote the proxies however the board recommends. That is something that scares me about this whole shmoze. Though HK pretty much owns the company at this point.
I have to believe HK will prevail here. I just have to.
LikeLike
They are referring to the HK/SV shares.
LikeLike
The meeting was adjourned and closed – 2022 meeting is done and in the books. I was there. Only open issue is vote tally Prop 4 which will determined by the lawsuit
LikeLiked by 1 person
If the meeting is closed, how did they justify leaving the open issue on Prop 4? Or did they not address it at all?
LikeLike
The court said that they will rule on Prop 4 whenever thy are ready, it is in Judge Laster’s hands and he’s aware of their games. The meeting wasn’t to count votes, it was to simply close the 2022 meeting.
As usual, they took a swipe at us shareholders implying that we don’t know what we’re doing with our votes. I hope that Judge Laster brings his fraud comment forward in his eventual ruling.
LikeLike
Down 50% in the last 6 months. What a disaster.
LikeLiked by 1 person
Wouldn’t be surprised to see another 50% or more from here if Prop 4 is somehow passed.
LikeLike
the management is pulling everything they got to pray that prop 4 will pass… seriously, in what world do they think or imagine that Prop 4 will still be voted for? These guys are acting as if they know whats best for investors but spent 15M of our money to sue us. Imagine that 15M went to buybacks and RETIRED shares…
so frustrated to see them trying to ruin an otherwise great compounder… these guys will go down as one of the worst American corporates along side dudes at Enron. They think they are smart by ripping us off, but their children and family names are tainted forever because of their greed, no honor
LikeLiked by 2 people