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TPG-Axon, the beneficial owner of 6.7% of the outstanding shares of SandRidge Energy, Inc. (NYSE: SD), began mailing consent solicitation materials to SandRidge stockholders, including a letter urging stockholders to support TPG-Axon in its consent solicitation.
The letter outlines why TPG-Axon believes sweeping changes need to take place at the Company to maximize shareholder value. TPG-Axon urges SandRidge stockholders to vote the GREEN consent card in favor of its proposals to amend the Company’s bylaws and replace SandRidge’s entire Board of Directors with its slate of highly qualified director nominees.
TPG-Axon’s proxy solicitor, MacKenzie Partners, has mailed these consent solicitation materials to certain SandRidge stockholders who were stockholders of record as of December 13, 2012. TPG-Axon requests stockholders return their signed and dated GREEN consent cards by February 28, 2013, to ensure that their consent cards are received by SandRidge prior to March 15, 2013, the deadline for submitting consents. TPG-Axon also requests that stockholders refrain from returning the white consent card issued by SandRidge.
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