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Baines Creek Announces Intent to Withhold Votes at Legacy Reserves Annual Meeting to Send Strong Statement of Discontent with the Status Quo

Disappointed by the Board's Apparent Disregard for Stockholder Democracy

Concerned by the Status Quo of Continued Value Destruction

AUSTIN, May 31, 2019 /PRNewswire/ -- Baines Creek Capital, LLC, an Austin-based investment firm, and its affiliated investment funds (collectively "Baines Creek"), which beneficially own approximately 23% of the common stock of Legacy Reserves, Inc. (the "Company") (LGCY), delivered an open letter to stockholders today announcing its intent to refrain from voting its shares to reach a quorum at the Company's 2019 Annual Meeting of Stockholders scheduled to be held on June 6, 2019.

The full text of Baines Creek's letter to stockholders follows:



https://mma.prnewswire.com/media/895906/Baines_Creek_LGCY_Letter.pdf

About Baines Creek Capital

Baines Creek Capital, LLC is an Austin-based investment firm that follows an opportunistic investment strategy using a fundamental, value-oriented approach.


Investor Contact
Norman Furley
(512) 680-9575
nfurley@bainescreek.com
https://www.bainescreek.com/

WARNING REGARDING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS. FORWARD LOOKING STATEMENTS CAN BE IDENTIFIED BY USE OF WORDS SUCH AS "OUTLOOK", "BELIEVE", "INTEND", "EXPECT", "POTENTIAL", "WILL", "MAY", "SHOULD", "ESTIMATE", "ANTICIPATE", AND DERIVATIVES OR NEGATIVES OF SUCH WORDS OR SIMILAR WORDS. FORWARD LOOKING STATEMENTS IN THIS PRESS RELEASE ARE BASED UPON PRESENT BELIEFS OR EXPECTATIONS. HOWEVER, FORWARD LOOKING STATEMENTS AND THEIR IMPLICATIONS ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR AS A RESULT OF VARIOUS RISKS, REASONS AND UNCERTAINTIES. EXCEPT AS REQUIRED BY LAW, BAINES CREEK CAPITAL, LLC AND ITS AFFILIATES AND RELATED PERSONS UNDERTAKE NO OBLIGATION TO UPDATE ANY FORWARD LOOKING STATEMENT, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE DEVELOPMENTS OR OTHERWISE.

Source
Baines Creek Capital, LLC

Cision

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