This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Blueknight Energy Partners, L.P. Announces Approval Of Unitholder Proposals

Blueknight Energy Partners, L.P. (NASDAQ: BKEP) (“BKEP” or the “Partnership”), a midstream energy company focused on providing integrated services for companies engaged in the production, distribution and marketing of crude oil, asphalt and other petroleum products, today announced that its unitholders approved certain amendments to its partnership agreement and the long-term incentive plan of its general partner during a special meeting of the Partnership’s unitholders held on September 14, 2011.

“The approval of the amendments to BKEP’s partnership agreement is key to the refinancing and restructuring of the Partnership. We appreciate the unitholders support. We remain positive on BKEP’s future and look forward to building value for our unitholders, our customers and our employees,” explained Mr. James C. Dyer, Chief Executive Officer of BKEP’s general partner.

Approval of the Partnership Agreement Amendment Proposal (as defined in the definitive proxy statement filed with the Securities and Exchange Commission on July 28, 2011) required the affirmative vote of the majority of the Partnership’s common units (excluding the common units owned by BKEP’s general partner and its affiliates) and subordinated units. Approximately 76.6% of the Partnership’s outstanding common units participated in voting relating to the Partnership Agreement Amendment Proposal. Votes cast by common unitholders in favor of the Partnership Agreement Amendment Proposal totaled approximately 16.3 million common units, representing approximately 97.3% of all votes cast by common unitholders and approximately 75.1% of all outstanding common units eligible to vote.

Approval of the LTIP Proposal (as defined in the definitive proxy statement filed with the Securities and Exchange Commission on July 28, 2011) required the affirmative vote of the majority of the votes cast by the Partnership’s unitholders. Approximately 51.0 million of the Partnership’s outstanding units participated in voting relating to the LTIP Proposal with approximately 90.7% of such votes cast in favor of the LTIP Proposal.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs