PDC Energy Mails Letter to Shareholders
Urges Shareholders to Vote "FOR" All Three of Company’s Nominees on the WHITE Proxy Card
Highlights Proven Track Record of Operational Excellence;
Addresses Kimmeridge’s Inaccurate, Misleading, and Disingenuous Claims
Highlights of the letter include:
- PDC has a proven track record of operational excellence that Kimmeridge has consistently ignored or mischaracterized;
- Kimmeridge has purposefully downplayed that PDC is the best-in-class operator in the Core Wattenberg, which accounts for more than 75% of the Company’s production and proved reserves;
- PDC’s G&A level is consistent with its peer group, notwithstanding Kimmeridge’s assertions to the contrary;
- Kimmeridge has failed to present actionable ideas to create long-term, sustainable value for shareholders;
- Leading independent proxy advisory firm
Glass Lewisagrees that PDC shareholders should support the PDC slate of directors and reject Kimmeridge’s nominees; and
- PDC is successfully executing a winning strategy to capitalize on the Company’s high-quality assets to deliver superior returns for investors.
The Company’s letter to shareholders can be found at www.votewhiteforPDC.com/letters. Additional materials regarding the Board’s recommendation for the 2019 Annual Meeting can be found at www.votewhiteforPDC.com.
EVERY SHAREHOLDER’S VOTE IS EXTREMELY IMPORTANT,
NO MATTER HOW MANY SHARES ARE OWNED.
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.