SandRidge Mississippian Trust I Provides Update on Legal Proceedings Against the Trust
The Trust units will be removed from trading and cancelled following the payment of the final distribution. The Trust will remain in existence until the filing of a certificate of cancellation with the Secretary of State of the
The Trust owned royalty interests in oil and natural gas properties and was entitled to receive proceeds from the sale of production attributable to the royalty interests up to June 1, 2021. As described in the Trust’s filings with the Securities and Exchange Commission (“SEC”), the amount of the quarterly distributions fluctuated from quarter to quarter, depending on the proceeds received by the Trust as a result of actual production volumes, oil, natural gas and natural gas liquids prices, and the amount and timing of the Trust’s administrative expenses, among other factors. All Trust unitholders share distributions on a pro rata basis.
This press release contains statements that are forward-looking statements. All statements contained in this press release, other than statements of historical facts, are forward-looking statements. These forward-looking statements include expectations regarding the final resolution of the Securities Litigation, the future announcement of a final distribution to Trust unitholders, and the timing of the winding up of the Trust, including the cancellation of the Trust units. Statements made in this press release are qualified by the cautionary statements made above. The Trustee does not intend, and does not assume any obligation, to update any of the statements included in this press release. An investment in common units issued by the Trust is subject to the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2020, and all of its other filings with the SEC.
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SandRidge Mississippian Trust I
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell
1(512) 236-6555
Source: SandRidge Mississippian Trust I