Black Stone Minerals, L.P. Completes Conversion of Subordinated Units into Common Units
Black Stone Minerals, L.P. (NYSE: BSM) (“Black Stone Minerals,” “BSM,”
or “the Partnership”) announces that the Partnership’s subordinated
units automatically converted into common units on a one-for-one basis
earlier today with the expiration of the Subordination Period (as
defined in Black Stone Minerals’ First Amended and Restated Agreement of
Limited Partnership, as amended). Accordingly, the Partnership issued
instructions today to American Stock Transfer & Trust Company (“AST”),
the Partnership’s transfer agent, to cancel outstanding subordinated
units and to issue an equal number of common units into common unit
accounts at AST. After AST has completed the issuance, unitholders
wishing to move their units to a brokerage account who have properly
executed a Non-Affiliate Representation Letter (the “NARL”) may instruct
their broker to move their common units out of AST. For unitholders with
units at AST who have not completed the NARL, a copy is available in the
“Investors” section of Black Stone Minerals’ website (www.blackstoneminerals.com)
under “Frequently Asked Questions – ‘Can I transfer my units to my
brokerage account?’”
About Black Stone Minerals, L.P.
Black Stone Minerals is one of the largest owners of oil and natural gas
mineral interests in the United States. The Partnership owns mineral
interests and royalty interests in 41 states in the continental United
States. The Partnership expects that its large, diversified asset base
and long-lived, non-cost-bearing mineral and royalty interests will
result in production and reserve growth, as well as increasing quarterly
distributions to its unitholders.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190524005391/en/
Copyright Business Wire 2019
Source: Business Wire
(May 24, 2019 - 4:30 PM EDT)
News by QuoteMedia
www.quotemedia.com