Jones Energy, Inc. Forgoes Convertible Preferred Stock Dividend
15 November 2018 - 8:30AM
Jones Energy, Inc. (NYSE: JONE) (“Jones Energy” or “the Company”)
is announcing that it will forgo payment of its previously declared
contingent dividend on its 8% Series A Perpetual Convertible
Preferred Stock (the “Preferred Stock”). The foregone dividend is
for the period beginning on the last payment date of August 15,
2018 through November 14, 2018, payable to holders of Preferred
Stock of record as of November 1, 2018. In order for the Company to
pay the dividend in full in shares of Class A common stock, the
average of the daily volume weighted average price per share of
Class A Common Stock for each day during the five consecutive day
trading period ending today, November 14, 2018 (the “Dividend
Valuation Price”), must be at or above $15.20 (the “Floor Price”)1.
The Dividend Valuation Price did not meet the Floor Price. The
right to receive this dividend will accrue for holders of Preferred
Stock. Future Preferred Stock dividend payments will be evaluated
on a quarterly basis.
About Jones Energy
Jones Energy, Inc. is an independent oil and natural gas company
engaged in the exploration and development oil and natural gas
properties in the Anadarko basin of Oklahoma and Texas. Additional
information about Jones Energy may be found on the Company’s
website at: www.jonesenergy.com.
Investor Contact:Page Portas, 512-493-4834Investor Relations
Associate
1 As defined in the Certificate of Designations for
the Preferred Stock and as adjusted in accordance with the
terms of the Certificate of Designations, including in connection
with the Company’s 1-for-20 reverse stock split that was effective
on September 7, 2018.