NGP Capital Resources Company Engages KBW to Explore Strategic Alternatives
Houston, Sept. 10, 2013 (GLOBE NEWSWIRE) -- NGP Capital Resources Company
(NASDAQ: NGPC) (the "Company") today announced that its Board of Directors has
engaged Keefe, Bruyette & Woods, a Stifel company ("KBW"), as financial
advisor to the Company in its evaluation of strategic alternatives to enhance
stockholder value. The Board of Directors, with the assistance of KBW, will
consider a range of options, which may include the sale or merger of the
Company, the acquisition of existing investment portfolios, or a combination,
joint venture or other strategic alliance with another company.
Steve Gardner, the Company's President and Chief Executive Officer said, "We
want to explore avenues for accelerating our progress. Periodically, we've
had discussions with other parties regarding strategic alternatives. The
Board of Directors has decided to formalize the process and hire KBW."
No decision has been made to enter into a transaction at this time, and there
can be no assurance the Company will enter into a transaction in the future.
The Company does not plan to disclose or comment on developments regarding the
strategic review process until it is complete or further disclosure is deemed
About NGP Capital Resources Company
NGP Capital Resources Company is a closed-end, non-diversified management
investment company that has elected to be regulated as a business development
company under the Investment Company Act of 1940. We principally invest in
private companies and from time to time, we may also invest in public
companies. We invest primarily in senior secured and mezzanine loans
according to our business plan and in some instances receive equity interests
in portfolio companies in connection with such investments. Our manager is
NGP Investment Advisor, LP, an affiliate of NGP Energy Capital Management
("NGP ECM"). Founded in 1988, NGP ECM is a premier investment franchise in
the natural resources industry, which together with its affiliates has managed
approximately $13 billion in cumulative committed capital since inception. NGP
ECM's investment platform includes Natural Gas Partners, NGP Global Adaptation
Partners, NGP Capital Resources Company and NGP Energy Technology Partners,
This press release may contain forward-looking statements. We may use words
such as "anticipates," "believes," "intends," "plans," "expects," "projects,"
"estimates," "will," "should," "may" and similar expressions to identify
forward-looking statements. These forward-looking statements are subject to
various risks and uncertainties. Certain factors could cause actual results
and conditions to differ materially from those projected, including the
uncertainties associated with the timing of transaction closings, changes in
interest rates, availability of transactions, the future operating results of
our portfolio companies, regulatory factors, changes in regional, national, or
international economic conditions and their impact on the industries in
which we invest, other changes in the conditions of the industries in which we
invest and other factors enumerated in our filings with the Securities and
Exchange Commission (the "SEC").
You should not place undue reliance on such forward-looking statements, which
speak only as of the date they are made. We undertake no obligation to update
our forward-looking statements made herein, unless required by law.
Persons considering an investment in NGP Capital Resources Company should
consider the investment objectives, risks, and charges and expenses of the
Company carefully before investing. Such information and other information
about us is available in our annual report on Form 10-K, in our quarterly
reports on Form 10-Q and in prospectuses we issue from time to time in
connection with our offering of securities. Such materials are filed with the
SEC and copies are available on the SEC's website, www.sec.gov, and in the
Investor Relations section of our website at www.ngpcrc.com. Prospective
investors should read such materials carefully before investing.
Please send investment proposals to:
NGP Capital Resources Company 713-752-0062
Steve Gardner (firstname.lastname@example.org),
Michael Brown (email@example.com), or
Hans Hubbard (firstname.lastname@example.org).
CONTACT: L. Scott Biar (email@example.com), 713-752-0062.
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