Gulfport Energy Corporation Announces Voting Results on Several Proposals
Voted on at 2013 Annual Meeting and Adjournment of 2013 Annual Meeting With
Respect to Charter Amendment Proposal to July 18, 2013
OKLAHOMA CITY, June 13, 2013 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation
(Nasdaq:GPOR) ("Gulfport") held its 2013 Annual Meeting of Stockholders today.
The proposals considered at the Annual Meeting are described in detail in
Gulfport's definitive proxy statement for the Annual Meeting as filed with the
Securities and Exchange Commission (the "SEC") on April 30, 2013, as
supplemented by additional definitive proxy soliciting materials filed with
the SEC on June 7, 2013 (together, the "Proxy"). As of April 23, 2013, the
record date, 77,375,107 shares of common stock were outstanding and entitled
to vote at the 2013 Annual Meeting, excluding 389,110 shares of Gulfport's
restricted common stock granted under its Amended and Restated 2005 Stock
Incentive Plan but not yet vested.
At today's Annual Meeting, Gulfport's stockholders voted and approved the
following proposals found in the Proxy: (i) Proposal 1 to elect the nominated
directors, (ii) Proposal 3 to approve Gulfport's 2013 Restated Stock Incentive
Plan, (iii) Proposal 4 to approve, on an advisory basis, the compensation paid
to Gulfport's named executive officers as reported in the Proxy and (iv)
Proposal 5 to ratify Grant Thornton LLP as Gulfport's independent auditors for
2013. Gulfport considered the recommendation from the proxy advisory firm
Institutional Shareholder Services ("ISS") and the preliminary stockholder
vote received by Gulfport on Proposal 2 found in the Proxy and determined to
revise Proposal 2 consistent with ISS' recommendation so that Proposal 2 will
now provide for an amendment to Gulfport's restated certificate of
incorporation to increase the total number of authorized shares of common
stock from 100 million to 200 million, rather than 250 million, as was
initially contemplated by Proposal 2.
Due to the foregoing, Gulfport's 2013 Annual Meeting was adjourned with
respect to Proposal 2 to solicit stockholders' votes on the revised Proposal
2. The 2013 Annual Meeting will reconvene on July 18, 2013 at 10 a.m. at
Gulfport's corporate offices located at 14313 N. May Avenue, Suite 100,
Oklahoma City, Oklahoma 73134 for the purpose of holding a stockholder vote on
the revised Proposal 2. The charter amendment to increase the authorized
shares of common stock requires the affirmative "FOR" vote of a majority of
the outstanding shares of Gulfport's common stock entitled to vote thereon.
Abstentions will have the same effect as negative votes in determining whether
this proposal was approved by the stockholders. Broker non-votes will not be
counted for voting purposes and will have no effect on the result of the vote
on this proposal.
During the period of the adjournment, Gulfport will mail notice of the revised
Proposal 2 and a new proxy card to Gulfport's stockholders of record as of
April 23, 2013 and will solicit proxies with respect to the revised Proposal
2. Stockholders are encouraged to vote on the revised Proposal 2. Stockholders
are also encouraged to read the Proxy and any additional definitive proxy
soliciting materials that Gulfport may file with the SEC in connection with
the revised Proposal 2. You may also contact Gulfport's proxy solicitor,
MacKenzie Partners, Inc., at (212) 929-5500 or toll-free at (800) 322-2885 if
you need assistance with voting.
This information is being provided to certain stockholders in addition to the
Proxy which you already received. Please read the complete Proxy, the
accompanying materials and any additional proxy soliciting materials that
Gulfport may file with the SEC carefully before you make a voting decision.
Gulfport Energy Corporation is an Oklahoma City-based independent oil and
natural gas exploration and production company with its principal producing
properties located along the Louisiana Gulf Coast and in the Utica Shale of
Eastern Ohio. Gulfport also has producing properties in the Niobrara Formation
of Northwestern Colorado. In addition, Gulfport holds a sizeable acreage
position in the Alberta Oil Sands in Canada through its interest in Grizzly
Oil Sands ULC, an 18.8% equity interest in Diamondback Energy Inc., a NASDAQ
Global Select Market listed company, and has an interest in an entity that
operates in Southeast Asia, including the Phu Horm gas field in Thailand.
Forward Looking Statements
Certain statements included in this press release are intended as
"forward-looking statements." These statements include assumptions,
expectations, predictions, intentions or beliefs about future events. Gulfport
cautions that actual future results may vary materially from those expressed
or implied in any forward-looking statements. Information concerning these and
other factors can be found in Gulfport's filings with the SEC, including its
Forms 10-K, 10-Q, 8-K, proxy statement and additional proxy soliciting
materials, which can be obtained free of charge on the SEC's web site at
Any forward-looking statements made in this press release speak only as of the
date of this release and, except as required by law, Gulfport undertakes no
obligation to update any forward-looking statement contained in this press
release, even if Gulfport's expectations or any related events, conditions or
circumstances change. Gulfport is not responsible for any changes made to this
release by wire or Internet services.
CONTACT: Investor & Media Contact:
Paul K. Heerwagen IV
Director, Investor Relations
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