On October 21, 2022, Simmons Bank, as trustee (the Trustee) of Hugoton Royalty Trust (the
Registrant), announced that it has entered into an amended agreement with Argent Trust Company, a Tennessee chartered trust company (Argent), pursuant to which the Trustee will be resigning as trustee of the Registrant and
will nominate Argent as successor trustee of the Registrant. The Trustees resignation as trustee, and Argents appointment as successor trustee, are subject to certain conditions set forth in the agreement, including approval by the
unitholders of the Registrant (or a court) of (i) Argents appointment as successor trustee and (ii) any amendments to the indenture of the Registrant necessary to permit Argent to serve as successor trustee.
Forward-looking Statements
Any statements in this Current Report on Form 8-K about plans for the Registrant, the
expected timing of the completion (if any) of the proposed resignation of the Trustee or appointment of a successor trustee, and other statements containing the words estimates, believes, anticipates,
plans, expects, will, may, intends and similar expressions, other than historical facts, constitute forward-looking statements within the meaning of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Factors or risks that could cause the Registrants actual results to differ materially from the results it anticipates include, but are not limited to the inability of the Trustee to resign or
Argent to assume duties as successor trustee due to the failure to obtain necessary unitholder or court approval or the failure to satisfy other conditions in the Trustees agreement with Argent.
Actual results may differ materially from those indicated by such forward-looking statements. In addition, the forward-looking
statements included in the materials represent the Trustees views as of the date hereof. The Trustee anticipates that subsequent events and developments may cause its views to change. However, while the Trustee may elect to update these
forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Trustees views as of any date subsequent to the date
hereof.
Additional Information and Where to Find It
In connection with the Trustees proposed resignation and nomination of Argent as successor trustee, the Registrant will
file with the SEC and furnish to the unitholders a proxy statement and other relevant documents. This Current Report on Form 8-K does not constitute a solicitation of any vote or approval. Unitholders are
urged to read the proxy statement when it becomes available and any other documents to be filed with the SEC in connection with the proposed transaction or incorporated by reference in the proxy statement because they will contain important
information about the proposed transaction.
Unitholders will be able to obtain a free copy of documents filed with the
SEC at the SECs website at http://www.sec.gov. In addition, unitholders may obtain a free copy of the Registrants filings with the SEC from the Registrants website at
http://www.hgt-hugoton.com/ or by directing a request to the Trustee by calling (855) 588-7839.
The Registrant, the Trustee and the Trustees directors, executive officers and certain other members of management and
employees of the Trustee may be deemed participants in the solicitation of proxies from unitholders of the Registrant in favor of the proposed transaction.