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.
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."
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.
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SOURCE Kimmeridge