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SOURCE TexCom, Inc.
HOUSTON, June 27, 2014 /PRNewswire/ --
I would like to provide this letter as an update related to yesterday's TexCom Shareholder Meeting and related proceedings. First, I would like to thank all of those who attended the meeting and for their participation. The meeting convened at the appointed time and location and a presentation was made by management and the board providing an update on the Company's activities and future plans. This presentation has been posted to the TexCom website and may be viewed in its entirety.
The meeting proceeded with a request for any proxies that had not been submitted prior to the meeting or filed online. The opportunity was also provided for anyone who had not received a ballot to receive a ballot at that time and cast their vote. After the collection of the ballots above, the inspector determined that the tallying and certification of the votes was likely to take a considerable amount of time and it was determined it would not be practical to keep the meeting in session while these activities were completed. Therefore, based upon the time required to process these votes and the fact that there are still a number of shares that have not been voted, the meeting was adjourned until 10:00 AM, July 25, 2014. The meeting will be reconvened at the offices of TexCom, Inc., 3600 South Gessner Road, Suite 200, Houston, Texas 77063 at that time. Shareholders may still vote their shares via either mail-in ballot or using the Issuer Direct online system, per the instructions in the original mailing. We encourage the Shareholders to vote on our Issuer Direct online system to ease the burden of processing of additional hand delivered proxies at the meeting.
There was also a request for the release of the fairness opinions that had been obtained by the company relative to the proposed acquisitions of two salt water disposal well operations, known as Peak and Bennett. Those opinions are posted on our website, www.texcomresources.com.
We look forward to the conclusion of the Shareholder Meeting at the appointed time and moving forward with the actions approved by the Shareholders.
Stephen J. Barth Chairman
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