STJ Ventures Launches Website with Information on Sabine Royalty Trust Assets and Reiterates Support for Proposed Change in Trustee
Research Into Trust’s Asset Base Underscores Need for Active Management
DALLAS–(BUSINESS WIRE)–The Trustee of Sabine Royalty Trust (NYSE: SBR) (the “Trust” or “SBR”) has adjourned the Special Meeting of the Trust – called to elect a successor Trustee – due to lack of a requisite quorum. As previously announced, STJ Ventures, LLC (together with its affiliates, “STJ”) strongly supports the proposed change in Trustee, and encourages fellow unitholders to review the Trustee’s proposals and instructions for voting. STJ is also making some of its research into the Trust’s assets available to fellow unitholders via a new website to underscore its view that there is significant activity and value in the Trust’s asset base to be managed by a qualified successor Trustee.
“STJ began investing in the Trust’s units over four years ago. In that time, we have spent hundreds of hours researching the Trust, its properties, and its business. Our database of SBR’s mineral ownership was developed through courthouse research in 57 key counties, where we ultimately identified and digitally mapped over 2,400 tracts covering over 850,000 gross acres and 95,000 net acres. Importantly, the database was assembled entirely from research of public records and with no access to any proprietary property records maintained by the Trustee,” said Joe Peacock, Jr., manager of STJ Ventures.
The information available on the new website is similar to what is prepared and disclosed by STJ’s peer mineral vehicles. Of course, those vehicles use their own proprietary records to prepare this information for investors.
“STJ has decided to make summaries of its research available to fellow unitholders to illustrate the type of information that the Trust has at its disposal, and to emphasize the activity taking place on the Trust’s properties that, in our view, should be overseen by a manager with the proper skillset such as the proposed successor Trustee, Argent Trust,” continued Peacock.
The summary information is now available at www.stjventures.com. For each basin researched, STJ has provided its maps, acreage summaries, permit status summaries and operator summaries. STJ encourages SBR unitholders to review these materials, and to participate in the Special Meeting of the Trust by following the Trustee’s instructions for voting. If you held units as of the record date but do not have your proxy materials, you should be able to contact your broker, request a control number for your SBR Units, and vote online at www.ProxyVote.com.
SBR unitholders with questions may contact info@stjventures.com.
STJ has no relationship with Trustee or proposed successor Trustee and is not soliciting proxies in respect of the unitholder vote on the proposals. STJ Ventures, LLC makes no representation or warranty with respect to the data provided herein, including as to its accuracy or fitness for a particular purpose. Parties accessing or utilizing the data do so at their own risk.
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