0001104659-17-059225.txt : 20170927 0001104659-17-059225.hdr.sgml : 20170927 20170927173002 ACCESSION NUMBER: 0001104659-17-059225 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20170927 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20170927 DATE AS OF CHANGE: 20170927 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Enduro Royalty Trust CENTRAL INDEX KEY: 0001520048 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 456259461 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35333 FILM NUMBER: 171105066 BUSINESS ADDRESS: STREET 1: 919 CONGRESS AVENUE STREET 2: SUITE 500 CITY: AUSTIN STATE: TX ZIP: 78701 BUSINESS PHONE: (512) 236-6599 MAIL ADDRESS: STREET 1: 919 CONGRESS AVENUE STREET 2: SUITE 500 CITY: AUSTIN STATE: TX ZIP: 78701 8-K 1 a17-22436_28k.htm 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): September 27, 2017

 

Enduro Royalty Trust

(Exact name of registrant as specified in its charter)

 

Delaware

 

1-35333

 

45-6259461

(State or other jurisdiction of

 

(Commission

 

(IRS Employer

incorporation )

 

File Number)

 

Identification No.)

 

The Bank of New York Mellon Trust Company, N.A., Trustee

 

 

Global Corporate Trust

 

 

919 Congress Avenue

 

 

Austin, Texas

 

78701

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (512) 236-6555

 

Not Applicable

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company o

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

 

 

 



 

Item 7.01 Regulation FD Disclosure.

 

On September 27, 2017, Enduro Royalty Trust issued a press release providing an update to unitholders regarding the special cash distribution to be paid to unitholders on October 20, 2017.  A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.

 

Pursuant to General Instruction B.2 of Form 8-K and Securities and Exchange Commission Release No. 33-8176, the press release attached as Exhibit 99.1 is not “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, but is instead furnished for purposes of that instruction.

 

Item 9.01 Financial Statements and Exhibits.

 

(d)                                 Exhibits.

 

Exhibit  99.1                           Enduro Royalty Trust Press Release dated September 27, 2017.

 

EXHIBIT INDEX

 

Exhibit

 

Description

 

 

 

99.1

 

Enduro Royalty Trust Press Release dated September 27, 2017.

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

Enduro Royalty Trust

 

By:

The Bank of New York Mellon Trust Company, N.A., as

 

 

Trustee

 

 

 

 

Date: September 27, 2017

By:

/s/ Sarah Newell

 

 

Sarah Newell

 

 

Vice President

 

3


EX-99.1 2 a17-22436_2ex99d1.htm EX-99.1

Exhibit 99.1

 

 

Enduro Royalty Trust Provides Update on $1.150005 per Unit Special Distribution

 

AUSTIN, Texas—(BUSINESS WIRE)—September 27, 2017

 

Enduro Royalty Trust (NYSE: NDRO) (the “Trust”) is informing current and prospective holders of its units of beneficial interest (each a “Trust Unitholder”) of the New York Stock Exchange (“NYSE”) rule impacting which Trust Unitholders are entitled to receive the special cash distribution of $1.150005 per unit that was announced on September 25, 2017 (the “Special Distribution”).

 

As previously announced, the Special Distribution will be paid on October 20, 2017 (the “Payment Date”) to Trust Unitholders of record as of the close of business on October 5, 2017 (the “Record Date”). In accordance with NYSE regulations, because the amount of the Special Distribution represents a distribution greater than 25% of the unit price as of the declaration date, it will be subject to “due bill” trading procedures. Accordingly, Trust Unitholders shall trade on a “due bill” basis from the Record Date until the close of trading on the Payment Date (the “Due Bill Period”). This means that Trust Unitholders who sell units during the Due Bill Period shall also sell their entitlement to the Special Distribution to the respective purchasers of such units. As a result, only Trust Unitholders that hold Trust units as of the close of business on October 20, 2017 will receive the Special Distribution. The units will commence trading on an ex-distribution basis on October 23, 2017 (i.e. the next trading day after the Payment Date).

 

Due bills obligate sellers to deliver the distribution to the buyer. The “due bill” obligations are settled customarily between the brokers representing the buyers and sellers of the units. The Trust has no obligations for either the amount of the “due bill” or the processing of the “due bill.”

 

About Enduro Royalty Trust

 

Enduro Royalty Trust is a Delaware statutory trust formed by Enduro Resource Partners to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain of Enduro Resource Partners’ properties in the states of Texas, Louisiana and New Mexico. As described in the Trust’s filings with the Securities and Exchange Commission, the amount of the periodic distributions is expected to fluctuate, depending on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, the amount and timing of capital expenditures, and the Trust’s administrative expenses, among other factors. Future distributions are expected to be made on a monthly basis. For additional information on the Trust, please visit www.enduroroyaltytrust.com.

 

Forward-Looking Statements and Cautionary Statements

 

This press release contains statements that are “forward-looking statements” within the meaning of 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. These forward-looking statements include the amount and date of any anticipated distribution

 

1



 

to unitholders and expected expenses, including capital expenditures. The anticipated distribution is based, in large part, on the amount of cash received or expected to be received by the Trust from Enduro Resource Partners with respect to the relevant period. The amount of such cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will be significantly and negatively affected by prevailing low commodity prices, which have declined significantly, could decline further and could remain low for an extended period of time. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither Enduro Resource Partners nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in units issued by Enduro Royalty Trust is subject to the risks described in the Trust’s filings with the SEC, including the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2016, filed with the SEC on March 15, 2017. The Trust’s quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov.

 

Contact

 

Enduro Royalty Trust

The Bank of New York Mellon Trust Company, N.A., as Trustee

Sarah Newell, 1 512-236-6555

 

2


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