DALLAS, Jan. 27, 2017 /PRNewswire/ -- RSP Permian, Inc.
("RSP" or the "Company") (NYSE: RSPP) announced that it has
established a record date of January 19,
2017 and a meeting date of February
24, 2017 for a special meeting of its stockholders to be
held at 8:00 a.m., local time, at
3141 Hood Street, Suite 700, Dallas,
Texas 75219. At the special meeting, RSP stockholders will
vote on a proposal to approve the issuance of 16,019,638 shares of
RSP common stock to Silver Hill Energy Partners II, LLC (the "SHEP
II Seller"), as partial consideration for RSP's acquisition of
Silver Hill E&P II, LLC ("SHEP II"), pursuant to and subject to
adjustments provided in the Membership Interest Purchase and Sale
Agreement dated as of October 13,
2016, by and among the Company, RSP Permian, L.L.C., a
wholly owned subsidiary of the Company, the SHEP II Seller and SHEP
II.
RSP also announced that it has filed a definitive proxy
statement with the Securities and Exchange Commission (the "SEC")
on January 26, 2017 for the special
meeting. Except for the RSP shares held by Silver Hill Energy
Partners Holdings, LLC, holders of record of RSP shares as of the
close of business on January 19, 2017
will be entitled to receive notice of the special meeting and to
vote at the special meeting. RSP commenced mailing the definitive
proxy statement and other related proxy materials on January 26, 2017 to RSP stockholders.
Subject to satisfaction of the closing conditions, the parties
currently expect to close the transaction on March 1, 2017. Upon closing of the transaction,
SHEP II will become an indirect wholly owned subsidiary of RSP.
About RSP Permian, Inc.
RSP is an independent oil and natural gas company focused on the
acquisition, exploration, development and production of
unconventional oil and associated liquids-rich natural gas reserves
in the Permian Basin of West
Texas. The vast majority of RSP's acreage is located on
large, contiguous acreage blocks in the core of the Midland and
Delaware Basins, sub-basins of the Permian Basin. The
Company's common stock is traded on the NYSE under the ticker
symbol "RSPP." For more information, visit
www.rsppermian.com.
Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of the federal securities laws. All statements, other than
historical facts, that address activities that RSP assumes, plans,
expects, believes, intends or anticipates (and other similar
expressions) will, should or may occur in the future are
forward-looking statements. Forward-looking statements are based on
management's current beliefs, based on currently available
information, as to the outcome and timing of future events. These
forward-looking statements involve certain risks and uncertainties
that could cause the results to differ materially from those
expected by the management of RSP. Information concerning these
risks and other factors can be found in RSP's filings with the SEC,
including its Annual Report on Form 10-K for 2015, which can be
obtained free of charge on the SEC's web site located at
http://www.sec.gov. RSP undertakes no obligation to update or
revise any forward-looking statement.
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SOURCE RSP Permian, Inc.