This Day On The Street
Continue to site
ADVERTISEMENT
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

TPG-Axon Reminds SandRidge Energy Stockholders To Submit Green Consent Cards Before March 15th Deadline

TPG-Axon, beneficial owner of seven percent of the outstanding shares of SandRidge Energy, Inc. (NYSE: SD) (“SandRidge” or the “Company”), today reminded all SandRidge stockholders to be heard and submit their signed and dated GREEN consent cards before the March 15, 2013 deadline for submitting consents, to help bring about the changes needed to put an end to an era of value destruction at the Company.

TPG-Axon encourages stockholders to vote their consent card immediately in support of its proposals to amend SandRidge’s bylaws and replace the Company’s entire Board of Directors with its slate of highly qualified director nominees who have a comprehensive plan in place to restore and build value at the Company.

“Mr. Ward and the current Board have failed to address the ongoing strategic and operational deficiencies at the Company or the serious governance and related party transaction issues we have raised. We believe stockholders share our frustration and outrage with this behavior and encourage them to heed the advice of the two leading independent proxy advisor firms and support our proposals to replace the current Directors with our highly qualified nominees,” said TPG-Axon.

TPG-Axon continued: “Stockholders of record join the movement of fellow large and small stockholders alike and act now to replace the entire Board of Directors by voting the GREEN consent card.”

Separately, TPG-Axon submitted proposals for stockholder approval at the Company’s upcoming Annual Meeting, including nominating three Board candidates to replace the incumbents up for reelection, eliminating the classified Board structure, and removing all incumbent directors.

The notification, which is unrelated to the ongoing consent solicitation, was made in order to meet the Company’s proposal submission deadline under its existing corporate bylaws. Under the current consent solicitation, consents are due by March 15, 2013. Under the rules of SandRidge’s regular proxy process, Director Nominee submissions are due by March 1, 2013, before the outcome of the March 15 th vote is known.

“As matter of prudence and procedure to preserve all of our options, we felt it important to submit proposals for the stockholder Annual Meeting as required under the Company’s by-laws. Let our notification today be a clear message to the Board and our fellow shareholders that we remain vigilant in our efforts to right this ship and we will pursue every avenue available to effect the necessary changes needed at SandRidge. The time has come for an independent Board that is focused on delivering value to all stockholders,” concluded TPG-Axon.

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs