Meridian Resource Adjourns Special Meeting of Shareholders to a Date to be Announced
06 Aprile 2010 - 9:25PM
The Meridian Resource Corporation (NYSE:TMR) today announced that
it has adjourned its special meeting of shareholders to a date to
be announced. The location of the meeting has not been determined
at this time. The special meeting had been called to consider and
vote on a proposal to adopt the Agreement and Plan of Merger, dated
as of December 22, 2009, by and among Meridian, Alta Mesa Holdings,
LP and Alta Mesa Acquisition Sub, LLC. The Board of Directors of
Meridian Resource unanimously recommends that shareholders vote
"FOR" the proposed merger with Alta Mesa Holdings. The record date
for shareholders entitled to vote at the meeting remains February
8, 2010. Shareholders are encouraged to read Meridian's definitive
proxy materials in their entirety as they provide, among other
things, a detailed discussion of the process that led to the
proposed merger and the reasons behind the Board of Directors'
unanimous recommendation that shareholders vote FOR the proposal to
adopt the merger agreement. The adoption of the merger agreement
requires the affirmative vote of the holders of at least two-thirds
of the outstanding shares of common stock entitled to vote. A
failure to vote will have the same effect as a vote "AGAINST" the
adoption of the merger agreement. If the merger is not completed,
Meridian may be forced to seek protection under federal bankruptcy
laws.
Additional Information Regarding the Merger and Where to Find
It
The proposed merger is being submitted to Meridian's
shareholders for their consideration, and Meridian has filed a
proxy statement to solicit shareholder approval of the proposal to
adopt the merger agreement, as well as other relevant documents
concerning the proposed merger, with the SEC. Meridian's
shareholders are urged to read the proxy statement regarding the
proposed merger and any other relevant documents filed with the
SEC, as well as any amendments or supplements to those documents,
because they contain important information. You can obtain a free
copy of the proxy statement, as well as other filings with the SEC
containing information about Meridian, at the SEC's website at
www.sec.gov. Copies of the proxy statement can also be obtained,
without charge, by directing a request to The Meridian Resource
Corporation, Investor Relations, 1401 Enclave Parkway, Suite 300,
Houston, Texas 77077 or at Meridian's Investor Relations page on
its corporate website at www.tmrx.com.
If you have additional questions about the merger, need
assistance in submitting your proxy or voting your shares of common
stock, or need additional copies of the proxy statement or the
enclosed proxy card, you can also contact The Altman Group, Inc.,
our proxy solicitor, toll-free at (877) 864-5052 or call (201)
806-7300 or e-mail questions to TMRinfo@altmangroup.com.
Forward-Looking Statement
Statements identified by the words "expects," "plans," and
certain of the other foregoing statements may be deemed
"forward-looking statements." Although Meridian believes that the
expectations reflected in such forward-looking statements are
reasonable, these statements involve risks and uncertainties
regarding the transactions described that may cause actual future
activities and results to be materially different from those
suggested or described in this press release. Risks and
uncertainties regarding the transactions include the possibility
that the closing of the merger does not occur, either due to the
failure of closing conditions, including the approval of the
shareholders of Meridian, rights of the parties to terminate the
merger agreement, or other reasons, risks that the merger disrupts
current plans and operations and the potential difficulties in
employee retention as a result of the merger, the outcome of legal
proceedings that have been, or may be, initiated against Meridian
related to the merger and the amount of the costs, fees, expenses
and charges related to the merger. Other risks relating to Meridian
are described in Meridian's documents and reports, available from
the U.S. Securities and Exchange Commission, including the report
filed on Form 10-K, as amended, for the year ended December 31,
2008 and any updates to those factors set forth in our subsequent
Quarterly Reports on Form 10-Q, including risks associated with our
default under our credit facility and other lending
arrangements.
About Meridian
The Meridian Resource Corporation is an independent oil and
natural gas company that explores for, acquires and develops oil
and natural gas properties. Through its wholly owned subsidiaries,
Meridian holds interests primarily in the onshore oil and natural
gas regions of south Louisiana and Texas and offshore in the Gulf
of Mexico.
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CONTACT: The Meridian Resource Corporation
Lance L. Weaver
(281) 597-7125
lweaver@tmrx.com
www.tmrc.com
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