PDC Energy Files Definitive Proxy and Mails Letter to Shareholders
Urges Shareholders to Vote "FOR" All Three of Company’s Nominees on the WHITE Proxy Card
PDC is Successfully Executing its Operating Plan Focused on Capital Discipline, Profitable Growth and Free Cash Flow Generation
The Company is also mailing a letter to shareholders. Highlights of the letter include:
- PDC’s Board and management team have successfully repositioned the Company as a focused player with strong core positions in the Wattenberg Field in
Coloradoand Delaware Basinin Texas.
- The Company is successfully executing its plan and advancing its financial priorities, which include:
º Sustainable free cash flow;
º Financial and operational discipline; and
º Profitable growth.
- PDC’s plan is working and resulted in strong 2018 financial and operating results, underscoring the value of the Company’s high-quality portfolio.
- The Company has provided a differentiated multi-year outlook and expects to build upon its proven track record of delivering on commitments.
- PDC’s three incumbent directors standing for reelection – PDC’s Chief Executive Officer
Bart Brookman, and independent directors Mark E. Ellisand Larry F. Mazza– are highly-qualified and have critical operating, industry and regulatory expertise to drive the Company’s plan forward.
- Kimmeridge’s nominees have no significant public company board, large-scale operating or technical expertise, and they lack
Coloradoregulatory experience. The PDC Board believes Kimmeridge is undertaking this proxy contest as part of an effort to use PDC as a vehicle to pursue its own M&A agenda.
The full text of the letter can be viewed here http://www.pdce.com/annual-meeting/PDC-Energy-Letter-to-Shareholders.pdf
EVERY SHAREHOLDER’S VOTE IS EXTREMELY IMPORTANT, NO MATTER HOW MANY SHARES THEY OWN.
Shareholders who have questions or require any assistance voting their shares should contact PDC Energy’s proxy solicitor:
Stockholders may call toll-free: (800) 322-2885
Banks and Brokers may call collect: (212) 929-5500
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 ("Securities Act"), Section 21E of the Securities Exchange Act of 1934 ("Exchange Act") and
Further, we urge you to carefully review and consider the cautionary statements and disclosures, specifically those under the heading "Risk Factors," made in our Annual Report on Form 10-K for the year ended
PDC has filed a definitive proxy statement and WHITE proxy card with the
CERTAIN INFORMATION REGARDING PARTICIPANTS
PDC, its directors and certain of its executive officers may be deemed to be participants in connection with the solicitation of proxies from PDC’s shareholders in connection with the matters to be considered at the 2019 Annual Meeting. Information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, is set forth in the proxy statement and other materials to be filed with the
Senior Director Investor Relations
Source: PDC Energy, Inc.