Past year: ▲ 15%(21.95 – 29.01 USD)
Each one in plain English, with the numbers worked through for a shareholder.
29 Jan 2003merger communication▲ GoodMajor
Dorchester Hugoton unitholders approved the three-way combination by an 81% vote, and Spinnaker and Republic's partners also approved it, clearing the path to close pending final paperwork from Republic's overriding-royalty-interest owners.
28 Jan 2003merger communication● Neutral
Counsel delivered a draft ERISA/tax opinion on the Republic-into-Dorchester-Minerals merger to the investment manager for Republic's overriding-royalty-interest owners, clearing a legal condition ahead of closing.
24 Jan 2003merger communication● Neutral
Dorchester Hugoton, Republic, Spinnaker and Dorchester Minerals jointly announced Supplement No. 2 to the proxy statement/prospectus and gave unitholders an anticipated closing date for the combination.
24 Jan 2003securities registration● Neutral
DORCHESTER MINERALS, L.P. filed the final prospectus for a registered offering.
22 Jan 2003merger communication● Neutral
A follow-up draft amendment letter to the Republic overriding-royalty-interest owners, one day after the prior version, still negotiating final terms of the combination documents.
21 Jan 2003merger communication● Neutral
Republic Royalty's general partners circulated a draft amendment letter to Republic's overriding-royalty-interest owners proposing changes to the combination documents as the merger neared closing.
27 Dec 2002merger communication● Neutral
Dorchester Minerals issued a joint press release with Hugoton, Republic and Spinnaker ahead of the December 30, 2002 special unitholder meeting called to vote on the three-way combination.
27 Dec 2002merger communication● Neutral
The same press release ahead of the December 30, 2002 special meeting, filed separately by Dorchester Hugoton as one of the three combining partnerships.
16 Dec 2002securities registration● Neutral
DORCHESTER MINERALS, L.P. filed the final prospectus for a registered offering.
30 Oct 2002business combination● Neutral
Amendment No. 4 set the endgame for the three-way combination: special meetings for all three partnerships on December 30, 2002, off record dates of October 23 for Dorchester Hugoton and October 29 for Spinnaker, with the proxy statement/prospectus dated for mailing on October 31.
21 Oct 2002business combination● NeutralMajor
Amendment No. 3 is where the swap for the two private partnerships was finally quantified: Republic's limited partners would receive 114,094.56 Dorchester Minerals common units for each 1% of the partnership they held, with Spinnaker's holders on the same footing, the limited partners of each taking units worth 96% of their partnership's enterprise value and the general partners the remaining 4%. Limited partners still have no appraisal rights beyond Dorchester Hugoton's dissenters.
23 Sept 2002business combination● Neutral
Amendment No. 2 brought the accounts up to mid-2002 and filled in detail behind the reserve numbers the exchange ratios depend on: how proved developed reserves were assigned to the Group III royalty properties (from royalty payments actually received, on production that has declined little), a note that Dorchester Hugoton's 2002 pipeline receipts were cut by an explosion on a line it does not own, and a clarification that Vaughn Petroleum's sharing percentage may be attributed to the manager of its general partner.
13 Aug 2002business combination● NeutralMajor
Amendment No. 1 turned the registration into a voting document, adding notices of special meetings for the limited partners of all three partnerships being combined under the December 13, 2001 agreement - Dorchester Hugoton, Republic Royalty and Spinnaker Royalty. Dorchester Hugoton's holders would take one Dorchester Minerals unit per depositary receipt, about 39.73% of the new partnership, and the risk factors concede that the exchange ratios rest on reserve estimates and that Dorchester Hugoton's fairness opinion predates the latest reserve reports.
15 May 2002business combination● NeutralMajor
Dorchester Hugoton, Republic Royalty and Spinnaker Royalty filed to combine into a new partnership, Dorchester Minerals, L.P., which would list on Nasdaq as DMLP; former Hugoton holders would get about 40% of the new units, Republic holders about 40%, and Spinnaker holders about 20%.
