HOUSTON, May 3, 2017 /PRNewswire/ -- Harvest Natural
Resources, Inc. (Harvest or the Company) (NYSE:HNR) today announced
that, in accordance with its previously articulated plan, it
expects that the payment of a cash dividend (characterized for U.S.
federal tax purposes as a liquidating distribution) of $5.75 per share to the stockholders of record on
April 24, 2017 will be completed on
May 4, 2017, and trading in Harvest's
stock on the New York Stock Exchange will be terminated after the
close of business on May 4. Since the record date of
April 24, the stock has been trading
on a due bill (rather than an ex dividend) basis and will continue
to do so until the close of business on May
4.
As soon as possible after the close of business on May 4, Harvest will effect its
stockholder-approved dissolution by filing its certificate of
dissolution with the Delaware
Secretary of State. At that time, Harvest will cease to be an
operating company and will continue to exist, as required by
Delaware law, only for the purpose
of winding up its affairs.
After dissolution, Harvest's stock will no longer be traded, and
Harvest will close its stock transfer books.
Stockholders of record at the close of business on May 4 will be entitled to receive any
post-dissolution liquidating distributions that Harvest may pay
from time to time during its winding up procedure.
About Harvest Natural Resources and the Dissolution
Harvest Natural Resources, Inc. is currently headquartered in
Houston. For more information about Harvest, go to
www.harvestnr.com. For more information about Harvest's
dissolution, see Harvest's definitive proxy statement filed with
the Securities and Exchange Commission on January 24, 2017, which can be found on the
Commission's EDGAR filing system, www.sec.gov.
CONTACT:
Stephen C. Haynes
Vice President, Chief Financial Officer
(281) 899-5716
Forward Looking Statements
This press release may contain projections and other
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. This information may include expected use of
proceeds, possible transactions, future plans and business
strategy. All statements other than statements of historical
fact may constitute forward-looking statements. Although
Harvest believes that the expectations reflected in these
forward-looking statements are reasonable, it can give no assurance
that these expectations will be correct. Actual results may
differ materially from Harvest's expectations due to uncertainties
and risks outside of Harvest's control. These risks and
uncertainties include, among others, those risks and uncertainties
described in Harvest's Annual Report on Form 10-K for 2016.
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SOURCE Harvest Natural Resources, Inc.