#USA #Dallas #Permian Basin #Royalty Trust #SoftVest

Permian Basin Royalty Trust Special Meeting Announcement

The Permian Basin Royalty Trust (PBT), under the management of Argent Trust Company, is gearing up for a significant event in its corporate calendar. On October 23, 2026, the Trustee announced a special meeting for unit holders scheduled on November 23, 2026. This meeting aims to address specific proposals put forth by a group of unitholders, including SoftVest Advisors, LLC, who together control over 15% of the trust's outstanding units.

Meeting Details

The crucial record date for eligible unit holders to participate in this special meeting is set for October 13, 2026. This date will determine who can vote during this significant gathering, which has the potential to amend the Trust's operational and management practices.

Proposed Amendments

During the special meeting, unit holders will deliberate on the following proposals:
1. Business Combination Approval: A vote on a proposal to approve the amendment of the Trust's indenture linked to a business combination as outlined in the Combination Agreement. The full details are available in the proxy statement, which is included in the Form S-4 submitted to the Securities and Exchange Commission.
2. Omnibus Incentive Plan: Additionally, unitholders will vote on adopting an Incentive Plan for PBT Land and Minerals, Inc. This plan is expected to enhance compensation structures that align the interests of the management with the objectives of unitholders.
3. Adjournment Proposal: Should it become necessary, a proposal will also be on the agenda to authorize the adjournment of the meeting. This would allow for further solicitation of proxies to secure broader support for the aforementioned proposals.

Important Clarifications

It is essential for unit holders to understand that neither the Trust nor the Trustee is directly a party to the Combination Agreement. They are not soliciting proxies for any votes in connection with these proposals and only provide this information for the unitholders' awareness. As emphasized in the press release, unit holders are encouraged to read the comprehensive documents laid out in the Form S-4 registration statement to fully grasp the implications of the planned proposals.

Invitation for Participation

To ensure that all unitholders are informed and ready to participate in the decision-making process, the Trustee plans to mail out notices regarding the special meeting starting on October 23, 2026. These notices will provide additional details on how unit holders can engage in the voting process, ensuring that every voice can be counted.

Looking Ahead

This special meeting represents a pivotal moment for the Permian Basin Royalty Trust as it navigates changes proposed by influential stakeholder groups. The decisions made during this gathering could significantly affect the trust's future operations and overall strategic direction.

To summarize, unit holders are urged to mark their calendars for both the record date and the special meeting itself. In the coming weeks, we will see how the dynamics between the Trust and its stakeholders unfold during this critical period. For further information, please reference the materials filed with the Securities and Exchange Commission, where essential details will be continuously updated.

For inquiries, unitholders can reach out to Nancy Willis, Director of Royalty Trust Services at Argent Trust Company, at 1.855.588.7839.