Each one in plain English, with the numbers worked through for a shareholder.
14 Feb 2019substantial holder notice● Neutral
Guggenheim Capital, LLC, Guggenheim Partners, LLC, GI Holdco II LLC, GI Holdco LLC, Guggenheim Partners Investment Management Holdings, LLC, Guggenheim Partners Investment Management, LLC reported a SANDRIDGE ENERGY INC shareholding of 2,427,745 shares (6.80% of votes) in a periodic institutional filing.
Blackstone / GSO Strategic Credit Fund, Blackstone / GSO Long-Short Credit Income Fund, GSO / Blackstone Debt Funds Management LLC, GSO Capital Partners LP, GSO Advisor Holdings L.L.C, Blackstone Holdings I L.P, Blackstone Holdings I/II GP Inc, The Blackstone Group L.P, Blackstone Group Management L.L.C, Stephen A. Schwarzman, Bennett J. Goodman, J. Albert Smith III reported a SANDRIDGE ENERGY INC shareholding of 172,996 shares (0.50% of votes) in a periodic institutional filing.
CVI Opportunities Fund I, LLLP, CVI Opportunities Fund II, LLLP, Susquehanna Advisors Group, Inc, Susquehanna Securities disclosed a new substantial SANDRIDGE ENERGY INC shareholding (5.10% of votes).
SandRidge reported third-quarter 2018 net income of $12 million ($0.33 per share) and operating cash flow of $53 million. Production was 34 MBoepd, up 6% on the second quarter, and 2018 production guidance was raised.
SandRidge reported a second quarter 2018 net loss of $34 million, or $0.97 per share, with operating cash flow of $26 million. Production was 3.0 MMBoe, and five new North Park wells beat pre-drill estimates.
SandRidge wrote to shareholders a day before its annual meeting, warning that Icahn was urging vote switches that could hand him control of the board. It urged votes for its five directors plus Read and Lipinski.
Ahead of its June 19 annual meeting, SandRidge told shareholders it had signed confidentiality agreements with 17 potential bidders, including Icahn, in its strategic review. Indications of interest were due June 25, and it urged votes for its board.
SandRidge sent shareholders a letter ahead of its June 19 annual meeting, urging them to back all five of its directors plus two Icahn nominees in the proxy contest with Carl Icahn. It also urged votes for the rights plan extension and the executive-pay advisory vote.
SandRidge announced that proxy adviser ISS recommended shareholders vote for four of its director nominees at the June 19, 2018 annual meeting, joining Glass Lewis. SandRidge disagreed with ISS's view on former Icahn employee Jonathan Christodoro.
SandRidge sent shareholders a letter criticizing Carl Icahn's energy track record and lack of a plan, and highlighted Glass Lewis's recommendation to back four of its nominees. It urged votes at the June 19, 2018 annual meeting.
SandRidge posted a revised investor presentation arguing for its board slate against Carl Icahn's nominees in the pending proxy contest. It also covered the strategic review and company valuation highlights.
SandRidge sent shareholders a letter updating them on its strategic alternatives review and urged them to back its five directors plus two Icahn nominees at the June 19, 2018 meeting. It also asked them to ratify the short-term rights plan through November 26, 2018.
SandRidge urged shareholders to vote on its WHITE proxy card for its board nominees ahead of the June 19, 2018 annual meeting, and against Icahn Capital's nominees. It also asked for ratification of the shareholder rights plan through November 26, 2018.
SandRidge reported a first-quarter 2018 net loss of $41 million ($1.18 per share), including a $32 million employee termination charge, and production of 3.2 MMBoe. It had no outstanding long-term debt after repaying its $36 million building note.
SandRidge said it would expand its board from five to seven directors and use a universal proxy card at the 2018 annual meeting. It backed its five current directors plus two independent Icahn Capital nominees, in a contest with Icahn Capital.
SandRidge announced that director John Genova retired, Michael Bennett became Chairman and Kenneth Beer joined the board as an independent director. The board recommended its nominees against Icahn's slate and asked shareholders to keep the rights plan until November 26, 2018.
SandRidge responded to Icahn Capital's intention to nominate directors at its 2018 annual meeting, saying it welcomed qualified candidates. It also said it was running a strategic alternatives review and that Icahn had rejected an offer to take part.
SandRidge reported a fourth-quarter 2017 net loss of $19 million, or $0.54 per share, and full-year 2017 net income of $47 million. Proved reserves ended 2017 at 178 MMBoe, and 2018 capital spending guidance was set at $180-190 million.
Guggenheim Capital, LLC, Guggenheim Partners, LLC, GI Holdco II LLC, GI Holdco LLC, Guggenheim Partners Investment Management Holdings, LLC, Guggenheim Partners Investment Management, LLC reported a SANDRIDGE ENERGY INC shareholding of 2,942,596 shares (8.25% of votes) in a periodic institutional filing.