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Stock impact report

Permianville Royalty Trust Unitholders Approve Proposal For Sponsor To Sell Properties In The Permian Basin [Yahoo! Finance]

Permianville Royalty Trust Units of Beneficial Interest (PVL) 
Last permianville royalty trust units of beneficial interest earnings: 11/8 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
The vote in favor of the sale of the Divestiture Properties constituted more than the required 50% of the Trust units outstanding as of the record date for the special meeting and, as a result, the proposal was approved by the Trust unitholders. The two proposals presented at the special meeting to amend the Amended and Restated Trust Agreement and the Conveyance of Net Profits Interest to raise certain threshold requirements for similar, future transactions received votes representing fewer than the required 75% of the Trust units outstanding as of the record date for the special meeting and, as a result, those proposals were not approved by the unitholders. Closing of the sale of the Divestiture Properties is expected to occur before August 31, 2023. Following the closing, the Sponsor will set a record date for the special distribution and within 45 days after the closing of the transaction, the Sponsor will distribute 80% of the net proceeds of the sale, less 80% of the expens Show less Read more
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