Advertisement
UK markets open in 6 hours 17 minutes
  • NIKKEI 225

    38,170.29
    -644.27 (-1.66%)
     
  • HANG SENG

    17,941.78
    -170.82 (-0.94%)
     
  • CRUDE OIL

    78.29
    -0.16 (-0.20%)
     
  • GOLD FUTURES

    2,340.90
    -8.20 (-0.35%)
     
  • DOW

    38,589.16
    -57.94 (-0.15%)
     
  • Bitcoin GBP

    52,687.65
    +510.27 (+0.98%)
     
  • CMC Crypto 200

    1,385.54
    -32.33 (-2.28%)
     
  • NASDAQ Composite

    17,688.88
    +21.28 (+0.12%)
     
  • UK FTSE All Share

    4,438.37
    -10.32 (-0.23%)
     

Kimmeridge Withdraws Independent Nominees to SilverBow's Board Following Company's Definitive Agreement with Crescent Energy

NEW YORK and DENVER, May 22, 2024 /PRNewswire/ -- Kimmeridge, an alternative asset manager focused on the energy sector and the largest shareholder of SilverBow Resources (NYSE: SBOW) ("SilverBow" or the "Company"), today announced the withdrawal of its independent nominees to SilverBow's Board of Directors (the "Board") in light of the Company's pending sale to Crescent Energy.

Kimmeridge (PRNewsfoto/Kimmeridge)
Kimmeridge (PRNewsfoto/Kimmeridge)

Ben Dell, Co-Founder and Managing Partner of Kimmeridge, said, "While we are disappointed that SilverBow's Board does not appear to have run a comprehensive sales process, our campaign was always underpinned by a strong belief that consolidation is in the best interests of shareholders. That's why we took the time in February to privately outline to the Board eight potential strategic transactions the Company should consider to drive value creation.

We are thankful for the overwhelming support of Kimmeridge's slate of independent Board nominees from the investment community, which helped catalyze this transaction. We believe that the proposed sale of the Company obviates the need for Board change at this time."

ADVERTISEMENT

About Kimmeridge

Founded in 2012 by Ben Dell, Dr. Neil McMahon and Henry Makansi, Kimmeridge is an alternative asset manager focused on the energy sector. The firm is differentiated by its direct investment approach, deep technical knowledge, active portfolio management, proven sustainability track record and proprietary research and data gathering.

Media

Daniel Yunger / Anntal Silver / Emma Cloyd
Kekst CNC
Kekst-Kimmeridge@kekstcnc.com

Important Information About the Gold Proxy Card

Gold proxy cards that have been properly signed and returned to Kimmeridge or its agents will be voted as directed, except that any votes for Kimmeridge's nominees on such cards will be disregarded and will not be voted at SilverBow's 2024 Annual Meeting. Any votes marked for the Company's nominees on the gold proxy card will be voted as directed at SilverBow's 2024 Annual Meeting.

Cision
Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/kimmeridge-withdraws-independent-nominees-to-silverbows-board-following-companys-definitive-agreement-with-crescent-energy-302152167.html

SOURCE Kimmeridge