Each one in plain English, with the numbers worked through for a shareholder.
2 May 2014capital raising announcement● Neutral
On April 30, 2014, certain employees exchanged JEH LLC units and Class B shares for 16,233 Class A shares under the 2013 exchange agreement, and the company immediately bought those shares back for cash at the April 28 NYSE closing price. This was under a board-authorized plan to repurchase up to $1 million of Class A shares from employees so they can pay tax withholding. The filing says no proceeds go to Jonny Jones or any director or executive officer other than the electing employees.
Jones Energy, Inc. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
JEH LLC and Jones Energy Finance Corp. sold $500 million of 6.75% senior unsecured notes due April 1, 2022 to initial purchasers led by Citigroup, guaranteed by Jones Energy, Inc. and JEH LLC's material subsidiaries. Part of the proceeds repaid all of the second lien term loan from 2009, which was then terminated. The company agreed to try to register an exchange offer for the notes within 360 days.
Macquarie Group Limited, Macquarie Bank Limited, Delaware Management Holdings Inc, Delaware Management Business Trust disclosed a new substantial Jones Energy, Inc. shareholding (6.27% of votes).
Citadel Advisors LLC, Citadel Advisors Holdings II LP, Citadel GP LLC, Kenneth Griffin reported a Jones Energy, Inc. shareholding of 8.80% of votes in a periodic institutional filing.
Macquarie Group Limited, Macquarie Bank Limited, Delaware Management Holdings Inc, Delaware Management Business Trust disclosed a new substantial Jones Energy, Inc. shareholding (6.27% of votes).
Macquarie Group Limited, Macquarie Bank Limited, Delaware Management Holdings Inc, Delaware Management Business Trust disclosed a new substantial Jones Energy, Inc. shareholding (6.27% of votes).
Macquarie Group Limited, Macquarie Bank Limited, Delaware Management Holdings Inc, Delaware Management Business Trust disclosed a new substantial Jones Energy, Inc. shareholding (6.27% of votes).
Stowers Institute for Medical Research, American Century Companies, Inc, American Century Investment Management, Inc disclosed a new substantial Jones Energy, Inc. shareholding (6.20% of votes).
SCHRODER INVESTMENT MANAGEMENT NORTH AMERICA INC/ DE reported a Jones Energy, Inc. shareholding of 1,077,800 shares (8.60% of votes) in a periodic institutional filing.
19 Dec 2013asset acquisition disposition▲ GoodMajor
JEH closed the Sabine acquisition on December 18, 2013 at a contract price of $195 million, subject to post-closing adjustments, which resolves the deal announced in November. At the same time, the borrowing base on its credit agreement with Wells Fargo as administrative agent was raised from $500 million to $575 million. Sabine financial statements and pro forma information are still to be filed later.
MCP II Jones Intermediate LLC, MCP II Co-Investment Jones Intermediate LLC, MCP II Executive Fund Jones Intermediate LLC, Metalmark Capital Partners II, L.P, Metalmark Capital Partners II Co-Investment, L.P, Metalmark Capital Partners II Executive Fund, L.P, Metalmark Capital Partners II GP, L.P, Metalmark Capital Holdings LLC, Metalmark Capital II LLC, Citigroup Alternative Investments LLC, Citigroup Investments Inc, Citigroup Inc reported a Jones Energy, Inc. shareholding of 12,856,825 shares (36.00% of votes) in a periodic institutional filing.
Jones Energy's operating subsidiary agreed on Nov 22, 2013 to buy oil and gas properties in Texas and Oklahoma from Sabine Mid-Continent LLC for a base price of $195 million (subject to adjustments), to be paid mainly by borrowing on its existing revolving credit facility, with closing expected around Dec 18, 2013. The press release describes about 26,000 net acres, 92 producing wells at about 3,400 Boe/d and 14.3 MMBoe of proved reserves, and plans to go from 10 to 12 rigs in 2014. The same filing confirms the Southridge development agreement expired Oct 31, 2013: Southridge rejected JEH's buyout proposal on Nov 22, 2013, JEH lost about 3,310 net Woodford acres (about 15.5 MMBoe of proved undeveloped reserves, about 18% of proved reserves at Dec 31, 2012), and the company expects a noncash charge of about $14.4 million in Q4 2013.
Jon Rex Jones, Jr, Jones Energy Drilling Fund, LP, Jones Energy Equity Partners, LP, Jones Energy Equity Partners II, LP, Jones Energy Team disclosed a new substantial Jones Energy, Inc. shareholding (55.00% of votes).
MCP II Jones Intermediate LLC, MCP II Co-Investment Jones Intermediate LLC, MCP II Executive Fund Jones Intermediate LLC, Metalmark Capital Partners II, L.P, Metalmark Capital Partners II Co-Investment, L.P, Metalmark Capital Partners II Executive Fund, L.P, Metalmark Capital Partners II GP, L.P, Metalmark Capital Holdings LLC, Citigroup Alternative Investments LLC, Citigroup Investments Inc, Citigroup Inc disclosed a new substantial Jones Energy, Inc. shareholding (36.00% of votes).
