Mission Advisors urges Texas Pacific Land shareholders to vote for Donald Cook
Mission Advisors, the second largest shareholder of Texas Pacific Land Trust, issued an open letter to TPL shareholders in connection with the company's upcoming 2019 Special Meeting of Shareholders, scheduled for May 22, 2019. The letter read, in part, "We urge you to elect Four-Star General Donald G. Cook, as Trustee to lead Texas Pacific Land Trust. Complete, sign and return the BLUE proxy card, or by voting online by following the instructions at www.TrustTPL.com. We must avoid the rogue activist nominee, Eric Oliver, of dissidents Horizon Kinetics/Softvest/ART-GFT et al. Mr. Oliver is naive and reckless. His incompetent recommendations and schemes will undermine the value of everyone's TPL holdings. Our investment is at grave risk. Texas Pacific Land Trust has been very good to its shareholders. TPL's Investor Presentation, April 2019 speaks for itself. We are the second largest shareholder, and an energy investor for over 40 years. As an investment, TPL is unparalleled. It continues to give us remarkable and valuable reasons to believe the future of TPL is bright indeed. Since its formation in 1888, and throughout the years under the leadership of Mr. Maurice Meyer, TPL continues to be a jewel in our portfolios, in the State of Texas and the energy business. We must elect Four-Star General Donald G. Cook as trustee to lead TPL... The dissident group, spearheaded by Horizon Kinetic/Softvest/ART-GFT Family Partners, seeks to force its way into the seat on the board, vacated by the death of Mr. Meyer. Their rogue nominee, Eric Oliver, has demonstrated to me with his offbeat suggestions and his pressuring of the trustees that he is not qualified for the position. Nonetheless he is presently on a self-promoting marketing campaign, attempting to convince us, the shareholders, to choose him as trustee. Eric Oliver is a big mistake. As a long term holder of TPL shares, and the second largest shareholder (behind the activist group), I support Texas Pacific Land Trust's management. I am an experienced MLP investor as well and know TPL was right to rebuff all of Mr. Oliver's naive recommendations concerning MLPs. We all want TPL to continue doing what they have been doing and to do so well into the future. This dissident consortium wants to interrupt the momentum. They want to change the proven, steady momentum that has made us outstanding returns. To what aim? Changing a long-proven successful business like TPL, without any clear reason - because there are none - is reckless. Worse yet, the dissidents and its nominee suggest they want to "fix" TPL and thereby add to its success. In our view, the dissident's complaints are lacking perspective and reason. TPL is doing just fine...So, I ask again that shareholders read the investor presentation, call management or even me, if you like, to discuss any of the material at your disposal. It is in my best interest to capture all of the upside that shareholders are sure to experience if the past excellent management and strategy continues into the future. I want all shareholders to have the best returns possible. Eric Oliver is wrong for TPL. Support Texas Pacific Land Trust. Vote with Management. Vote for Four-Star General Donald G. Cook."