Conversion Exploration Committee of Texas Pacific Land Trust Provides Update
September 30 2019 - 8:30AM
Business Wire
Trust Retains Credit Suisse as Financial
Advisor
The Conversion Exploration Committee (the “Committee”) of Texas
Pacific Land Trust (NYSE: TPL) (the “Trust” or “TPL”) today
provided the first in a series of updates on its deliberations.
The Trust, after Trust management and the Committee interviewed
a number of potential financial advisors, retained Credit Suisse to
assist the Trust and the Committee in developing its recommendation
to the Trustees.
The Committee’s deliberations to date have been productive and
informative. The Committee has met three times, both in person and
over the phone. Although its deliberations are confidential, the
Committee will provide monthly progress reports to shareholders as
required by its Charter before issuing a final recommendation by
the end of year.
The Committee is chaired by John R. Norris III and David E.
Barry, the incumbent Trustees of TPL. Its additional members are
(in alphabetical order): Four-Star General Donald G. Cook, USAF
(Retired); Craig Hodges, Chief Executive Officer of Hodges Capital;
Dana McGinnis, Founder and Chief Investment Officer of Mission
Advisors; Eric L. Oliver, Founder and President of SoftVest
Advisors and Murray Stahl, Chairman of Horizon Kinetics.
About Texas Pacific Land Trust
Texas Pacific Land Trust is one of the largest landowners in the
State of Texas with approximately 900,000 acres of land in West
Texas. The Trust was organized under a Declaration of Trust to
receive and hold title to extensive tracts of land in the State of
Texas, previously the property of the Texas and Pacific Railway
Company, and to issue transferable Certificates of Proprietary
Interest pro rata to the holders of certain debt securities of the
Texas and Pacific Railway Company. Texas Pacific Land Trust’s
trustees are empowered under the Declaration of Trust to manage the
lands with all the powers of an absolute owner.
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Sydney Isaacs (713) 343-0427 sri@abmac.com Abernathy MacGregor
Christen Bagley (713) 343-0427 cdb@abmac.com /
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