GasLog Partners LP Announces Proxy Advisory Firms Institutional Shareholder Services Inc. and Glass, Lewis & Co. Recommend Common Unitholders Vote “FOR” Proposed Transaction
29 June 2023 - 6:30AM
GasLog Partners LP (“GasLog Partners” or the
“Partnership”) (NYSE: GLOP), an international owner,
operator and acquirer of liquefied natural gas (“LNG”) carriers,
today announced that proxy advisory firms Institutional
Shareholders Services Inc. and Glass, Lewis & Co. issued
reports on June 27, 2023, recommending that the Partnership’s
common unitholders vote “FOR” the previously
announced merger pursuant to which GasLog Ltd. (“GasLog”) will
acquire all of the outstanding common units of the Partnership not
beneficially owned by GasLog (the “Transaction”), such vote to be
held at the Partnership’s upcoming special meeting of common
unitholders (the “Special Meeting”) scheduled to take place on July
7, 2023, at 10:00 a.m. Eastern Time. If the merger is approved,
each common unit will be entitled to receive overall consideration
of $8.65 in cash, consisting in part of a special distribution by
the Partnership of $3.28 per common unit in cash that will be
distributed to the Partnership’s common unitholders in connection
with the closing of the Transaction and the remainder to be paid by
GasLog as merger consideration at the closing of the
Transaction.
The Special Meeting will be held virtually via webcast at
www.virtualshareholdermeeting.com/GLOP2023SM. The Partnership’s
Board of Directors (acting upon the recommendation of
the Conflicts Committee of the Board of Directors) recommends
that the Partnership’s common unitholders vote
“FOR” the Transaction.
Your vote is important. Please submit your proxy by
telephone or electronically through the Internet before 11:59 p.m.
Eastern Time on July 6, 2023 (or, in the event of an adjournment of
the Special Meeting, such later date and time as may be determined
by the Partnership’s Board of
Directors).
If you need assistance with voting procedures or have questions
regarding the Special Meeting, please contact D.F. King toll-free
at (866) 342-4883 (banks and brokers call collect at
(212) 269-5550).
Forward-Looking Statements
All statements in this press release that are not statements of
historical fact are “forward-looking statements” within the meaning
of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements that address
activities, events or developments, such as the closing of the
Transaction, that the Partnership expects, projects, believes or
anticipates will or may occur in the future, particularly in
relation to our operations, cash flows, financial position,
liquidity and cash available for dividends or distributions, plans,
strategies, business prospects and changes and trends in our
business and the markets in which we operate. We caution that these
forward-looking statements represent our estimates and assumptions
only as of the date of this press release, about factors that are
beyond our ability to control or predict, and are not intended to
give any assurance as to future results. Any of these factors or a
combination of these factors including the closing of this
Transaction could materially affect future results of operations
and the ultimate accuracy of the forward-looking statements. Other
factors that might cause future results and outcomes to differ
include, but are not limited to, the other risks and uncertainties
described in the Partnership’s Annual Report on Form 20-F filed
with the SEC on March 6, 2023, available
at http://www.sec.gov. Accordingly, you should not unduly rely
on any forward-looking statements.
We undertake no obligation to update or revise any
forward-looking statements contained in this press release, whether
as a result of new information, future events, a change in our
views or expectations or otherwise, except as required by
applicable law. New factors emerge from time to time, and it is not
possible for us to predict all of these factors. Further, we cannot
assess the impact of each such factor on our business or the extent
to which any factor, or combination of factors, may cause actual
results to be materially different from those contained in any
forward-looking statement.
Contacts:
GasLog PartnersRobert BrinbergRose &
CompanyPhone: +1 212-517-0810Email: gaslog@roseandco.com
About GasLog Partners
GasLog Partners is an owner, operator and acquirer of LNG
carriers. The Partnership’s fleet consists of eleven wholly-owned
LNG carriers as well as three vessels on bareboat charters, with an
average carrying capacity of approximately 159,000 cbm. GasLog
Partners is a publicly traded master limited partnership (NYSE:
GLOP) but has elected to be treated as a C corporation for U.S.
income tax purposes and therefore its investors receive an Internal
Revenue Service Form 1099 with respect to any distributions
declared and received. Visit GasLog Partners’ website
at http://www.gaslogmlp.com.
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