Hiland Sets Record and Special Meeting Dates for Unaffiliated Unitholders to Vote on Merger Proposals
September 10 2009 - 8:00AM
PR Newswire (US)
ENID, Okla., Sept. 10 /PRNewswire-FirstCall/ -- Hiland Partners, LP
(NASDAQ:HLND) and Hiland Holdings GP, LP (NASDAQ:HPGP)
(collectively, the "Hiland companies") announced today that
separate unitholder special meetings will be held on October 20,
2009 for unitholders of record of each partnership at the close of
business on September 9, 2009 to vote on the previously announced
mergers among each Hiland company with affiliates of Harold Hamm.
The Hiland Partners, LP special meeting will be held at 9:00 a.m.
and the Hiland Holdings GP, LP special meeting will be held at
10:30 a.m. Each of the special meetings will take place at 302 N.
Independence, Ball Room, Second Floor, Enid, Oklahoma 73701.
Approval of each merger requires the affirmative vote of the
majority of the outstanding common units held by each Hiland
company's respective public unitholders. The obligations of Mr.
Hamm and his affiliates to complete either Hiland company merger
are conditioned upon, among other things, the concurrent completion
of the other Hiland company merger. Mr. Hamm and his affiliates may
waive the condition requiring the concurrent completion of both
Hiland company mergers under limited circumstances, but is under no
obligation to do so. About the Hiland Companies Hiland Partners, LP
is a publicly traded midstream energy partnership engaged in
purchasing, gathering, compressing, dehydrating, treating,
processing and marketing of natural gas, and fractionating, or
separating, and marketing of natural gas liquids, or NGLs. Hiland
Partners, LP also provides air compression and water injection
services for use in oil and gas secondary recovery operations.
Hiland Partners, LP's operations are primarily located in the
Mid-Continent and Rocky Mountain regions of the United States.
Hiland Partners, LP's midstream assets consist of fifteen natural
gas gathering systems with approximately 2,147 miles of gathering
pipelines, six natural gas processing plants, seven natural gas
treating facilities and three NGL fractionation facilities. Hiland
Partners, LP's compression assets consist of two air compression
facilities and a water injection plant. Hiland Holdings GP, LP owns
the two percent general partner interest, 2,321,471 common units
and 3,060,000 subordinated units in Hiland Partners, LP, and the
incentive distribution rights of Hiland Partners, LP. Important
Additional Information Regarding the Mergers has been Filed with
the SEC In connection with the proposed mergers, the Hiland
companies have filed a joint proxy statement and each of Hiland
Partners and Hiland Holdings may file other documents with the SEC.
INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE DEFINITIVE
JOINT PROXY STATEMENT WHEN IT BECOMES AVAILABLE BECAUSE IT WILL
CONTAIN IMPORTANT INFORMATION ABOUT THE HILAND COMPANIES AND THE
MERGERS. Investors and security holders may obtain copies of the
definitive joint proxy statement and other documents that Hiland
Partners or Hiland Holdings file with the SEC (when they are
available) free of charge at the SEC's web site at
http://www.sec.gov/. The definitive joint proxy statement and other
relevant documents may also be obtained (when available) free of
charge on the Hiland companies' web site at
http://www.hilandpartners.com/ or by directing a request to either
(i) Hiland Partners, LP, 205 West Maple, Suite 1100, Enid, Oklahoma
73701, Attention: Investor Relations (for documents filed by Hiland
Partners, LP), or (ii) Hiland Holdings GP, LP, 205 West Maple,
Suite 1100, Enid, Oklahoma 73701, Attention: Investor Relations
(for documents filed by Hiland Holdings GP, LP). Hiland Partners
and its directors, executive officers and other members of its
management and employees (including Mr. Hamm) may be deemed
participants in the solicitation of proxies from the unitholders of
Hiland Partners and Hiland Holdings and its directors, executive
officers and other members of its management and employees
(including Mr. Hamm) may be deemed participants in the solicitation
of proxies from the unitholders of Hiland Holdings in connection
with the proposed transactions. Information regarding the special
interests of persons who may be deemed to be such participants in
the proposed transactions will be included in the joint proxy
statement described above. Additional information regarding the
directors and executive officers of Hiland Partners and Hiland
Holdings is also included in each Hiland company's Annual Report on
Form 10-K for the year ended December 31, 2008, which were filed
with the SEC on March 9, 2009, and subsequent statements of changes
in beneficial ownership on file with the SEC. These documents are
available free of charge at the SEC's web site at
http://www.sec.gov/ and from Investor Relations at Hiland Partners
or Hiland Holdings, as applicable, as described above. DATASOURCE:
Hiland Partners, LP; Hiland Holdings GP, LP CONTACT: Derek Gipson,
Director - Business Development and Investor Relations of Hiland
Partners, LP, +1-580-242-6040 Web Site:
http://www.hilandpartners.com/
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