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8-K - FORM 8-K - LL&E ROYALTY TRUST | h84373e8vk.htm |
LL&E ROYALTY TRUST LL&E ROYALTY TRUST ANNOUNCES VOTE AT SPECIAL MEETING OF UNITHOLDERS
The Bank of New York Mellon Trust Company, N.A. Trustee |
NEWS RELEASE |
FOR IMMEDIATE RELEASE
AUSTIN, Texas, August 24, 2011LL&E Royalty Trust (Pink Sheets:LRTR.pk News) (the Trust)
announced today that the Special Meeting of Trust Unitholders convened on August 12, 2011 and
temporarily adjourned until August 24, 2011 was reconvened today, and that the vote was taken as
described below.
The Special Meeting was called at the request of a unitholder holding more than 10% of the
Trust units (the Proponent) to vote on a proposal made by the Proponent to remove The Bank of
New York Mellon Trust Company, N.A. as Trustee and to appoint Premier Bank & Trust, National
Association (Premier), as successor trustee. The meeting was convened on August 12, 2011 as
scheduled, but was temporarily adjourned as a result of the decision of Premier not to accept an
appointment as successor trustee of the Trust. The adjournment was intended to give Premier
additional time in which to review the situation and to reconsider its decision.
At the Special Meeting, the removal of The Bank of New York Mellon Trust Company, N.A. as
Trustee and appointment of Premier was approved by the Trusts unitholders. However, as of the
time of the Special Meeting, the Trustee had not received any communication from Premier indicating
that it had reconsidered its willingness to serve as successor trustee. Consequently, neither the
removal nor the appointment of Premier will occur unless Premier accepts its appointment by written
notice of acceptance delivered to the Trustee by noon Eastern Time on August 26, 2011.
If Premier does not accept its appointment as described above, the Trustee intends to consult
with the Proponent and other unitholders about any suggestions any of them may want to make.
The exact results of the vote will be reported on Form 8-K within the applicable time period.
This press release contains statements that are forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. All statements contained in this press release, other than
statements of historical facts, are forward-looking statements for purposes of these provisions.
An investment in Units issued by LL&E Royalty Trust is subject to the risks described in the
Trusts Annual Report on Form 10-K for the year ended December 31, 2010, and all of its other
filings with the Securities and Exchange Commission. The Trusts annual, quarterly and other filed
reports are available over the Internet at the SECs web site at http://www.sec.gov.
Contact:
LL&E Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Mike Ulrich, 800-852-1422
www.businesswire.com/cnn/lrt.htm
The Bank of New York Mellon Trust Company, N.A., as Trustee
Mike Ulrich, 800-852-1422
www.businesswire.com/cnn/lrt.htm