2023 Meeting Adjourned

tpltblogger5 Comments

Information and Observations (from others):

-With the close of this meeting David Barry and John Norris are no longer on the board

-The stockholders agreement between the company and HK/SoftVest is terminated. HK/SV can vote however they want going forward

-Various board members were mingling with investors at casual events prior to the meeting

-Q&A at the meeting was quite spirited

-We learned that the board unanimously voted to sue HK/SV for their break from the board on prop 4. The legal spend is on ALL of them

-Shareholders in attendance indicated a strong preference for buybacks as opposed to M&A when informally polled during Gabi Gliksberg’s time at the microphone

If you were there, what did I miss?

5 thoughts on “2023 Meeting Adjourned”

  1. If I recall correctly, the company indicated Rhys Best will be BOD Chairman. I have no view on this other than “well see how it goes”. Hugh Stephenson

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    • After reading Best’s Bio in the 2023 Proxy Statement he appears to have lots of experience as Chairman of a Board of Directors, lets hope he is successful employing it at TPL.

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  2. The board continues to spend shareholder funds on frivolous lawsuits with no remorse. It appears that most of the legal expenses are being paid to the former law firm where David Barry was a partner. When asked, David did not deny this. Major conflict of interest and these guys are putting $$ their friend pockets everywhere you turn. Disgrace!

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  4. Election results are expected on Monday

    I visited with Micheal Dobbs afterwards and he had a much more detailed, concise and logical summary on how share buy backs are authorized. I (paraphrasing our conversation) noted to him that if that was explained that way at the meeting it would be received much better than they way they phrased it from the chair.

    Visited with Murray for a bit afterwards. My take was he was cautiously optomistic about the coming year.

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