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): February 26, 2019
TransMontaigne Partners L.P.
(Exact name of registrant as specified in its charter)
Delaware |
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001-32505 |
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34-2037221 |
(State or other jurisdiction |
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Commission |
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(I.R.S. Employer |
1670 Broadway, Suite 3100, Denver, Colorado 80202
(Address of principal executive offices) (Zip Code)
(303) 626-8200
(Registrants telephone number, including area code)
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 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 5.07. Submission of Matters to a Vote of Security Holders.
On February 26, 2019, TransMontaigne Partners L.P., a Delaware limited partnership (TLP), held a special meeting of unitholders (the Special Meeting), to vote on the proposals identified in the definitive proxy statement dated January 25, 2019, which was first mailed to TLP unitholders on or about January 25, 2019.
As of the close of business on January 28, 2019, the record date for the Special Meeting, there were 16,229,123 TLP common units outstanding and entitled to vote at the Special Meeting. A quorum of 10,473,256 common units was represented in person or by proxy at the Special Meeting. A summary of the voting results for the following proposals, which are described in detail in the definitive proxy statement, is set forth below:
1. Proposal to approve the Agreement and Plan of Merger, dated as of November 25, 2018, by and among TLP, TransMontaigne GP L.L.C., the general partner of the Partnership (the General Partner), TLP Finance Holdings, LLC (Parent), TLP Merger Sub, LLC (Merger Sub), TLP Acquisition Holdings, LLC (TLP Holdings) and, solely for the purposes of Section 6.19 thereof, TLP Equity Holdings, LLC (Equity Holdings), and the transactions contemplated thereby, including the merger (the Merger Proposal). The Merger Proposal received the affirmative vote of approximately 97.2% of the outstanding common units represented at the Special Meeting in person or by proxy.
Votes For |
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Votes Against |
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Votes Abstained |
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Broker Non- |
10,179,188 |
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277,439 |
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16,629 |
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0 |
2. Proposal to approve the adjournment of the Special Meeting, if necessary or appropriate, to solicit additional proxies if there are not sufficient votes to approve the Merger Agreement and the Merger at the time of the Special Meeting (the Adjournment Proposal). The Adjournment Proposal received the affirmative vote of approximately 96.7% of the outstanding common units represented at the Special Meeting in person or by proxy.
Votes For |
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Votes Against |
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Votes Abstained |
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Broker Non- |
9,998,340 |
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314,916 |
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26,167 |
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133,833 |
No other business properly came before the Special Meeting.
Item 8.01. Other Events.
On February 26, 2019, TLP issued a press release announcing the results of the unitholder vote at the Special Meeting. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit |
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Description |
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99.1 |
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Press Release, dated February 26, 2019, issued by TransMontaigne Partners L.P. |
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.
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TRANSMONTAIGNE PARTNERS L.P. | |
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By: |
TransMontaigne GP L.L.C., its general partner |
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Date: February 26, 2019 |
By: |
/s/ Michael A. Hammell |
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Name: |
Michael A. Hammell |
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Title: |
Executive Vice President, General Counsel and Secretary |
TransMontaigne Partners L.P. Announces Unitholder Approval and Effective Date of Purchase of its Outstanding Common Units by an Affiliate of ArcLight Energy Partners
Denver, Colorado, February 26, 2019 TransMontaigne Partners L.P. (NYSE:TLP) (the Partnership, we, us, our) announced that at the special meeting of the Partnerships common unitholders held earlier today, February 26, 2019, the Partnerships unitholders voted to approve the previously announced merger of the Partnership and an indirect subsidiary of ArcLight Energy Partners Fund VI, L.P. (ArcLight), pursuant to the Agreement and Plan of Merger dated November 25, 2018 (the Merger Agreement), between the Partnership, TLP Finance Holdings, LLC (the Purchaser) and certain other related parties thereto, with the Partnership surviving as a wholly owned subsidiary of an affiliate of ArcLight Energy Partners (the Merger Proposal). Approximately 97.2% of the Partnerships common unitholders represented in person or by proxy at the special meeting voted in favor of the approval of the Merger Proposal, which represented approximately 62.7% of the Partnerships total outstanding common units as of January 28, 2019, the record date for the special meeting (the Record Date).
Pursuant to the Merger Agreement, the Purchaser acquired all of the outstanding common units of the Partnership not already held by the Purchasers direct parent, TLP Acquisition Holdings, LLC or its affiliates, including ArcLight, at a price of $41.00 per common unit.
The Partnership also announced today that all conditions required to complete the merger under the terms of the Merger Agreement have been satisfied and all necessary filings have been made for the transaction to take effect on February 26, 2019. The Partnerships common units will continue to trade on the NYSE on February 26, 2019 and will be suspended from trading on the NYSE effective as of the opening of trading on February 27, 2019. On February 27, 2019, the Partnership will direct the NYSE to file a Form 25 on the Partnerships behalf with the Securities and Exchange Commission to commence the process of delisting the common units of the Partnership from the NYSE and deregistering such common units under the Securities Exchange Act of 1934. Promptly after the effective time of the transaction, Computershare Trust Company, N.A., our paying agent, will mail or provide to each record holder of common units transmittal materials and instructions for the surrender of common units. Upon the return of the transmittal materials, including original unit certificates evidencing common units, if applicable, the paying agent will make payment to surrendering holders. If you hold your common units through custodial entity, such as a brokerage firm, commercial bank, trust company or other nominee, please contact them for instructions on how to receive your merger consideration.
The Partnership currently expects K-1s for the partial year beginning January 1, 2019 and ending as of the closing of the transaction to be available sometime in the first quarter of 2020. Please consult the publicly available proxy materials and your tax advisor with any questions relating to actual tax consequences relating to the transaction.
ABOUT TRANSMONTAIGNE PARTNERS L.P.
TransMontaigne Partners L.P. is a terminaling and transportation company based in Denver, Colorado with operations in the United States along the Gulf Coast, in the Midwest, in Houston and Brownsville, Texas, along the Mississippi and Ohio Rivers, in the Southeast and on the West Coast. We provide integrated terminaling, storage, transportation and related services for customers engaged in the distribution and marketing of light refined petroleum products, heavy refined petroleum products, crude oil, chemicals, fertilizers and other liquid products. Light refined products include gasolines, diesel fuels, heating oil and jet fuels, and heavy refined products include residual fuel oils and asphalt. We do not purchase or market products that we handle or transport. News and additional information about TransMontaigne Partners L.P. is available on our website: www.transmontaignepartners.com.
FORWARD-LOOKING STATEMENTS
This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Although the Partnership believes that the expectations reflected in such forward looking statements are based on reasonable
1670 Broadway Suite 3100 Denver, CO 80202 303-626-8200 (phone) 303-626-8228 (fax)
Mailing Address: P. O. Box 5660 Denver, CO 80217-5660
www.transmontaignepartners.com
assumptions, such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. The forward-looking statements contained herein include statements related to the effects of the merger and the final allocation of the merger consideration. Such forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Partnerships and ArcLights control. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements.
Important factors that could cause actual results to differ materially from the Partnerships expectations and may adversely affect the Partnerships business and results of operations are disclosed in Item 1A. Risk Factors in the Partnerships Annual Report on Form 10-K for the year ended December 31, 2017, filed with the Securities and Exchange Commission on March 15, 2018, as updated and supplemented by subsequent filings with the SEC. The forward looking statements speak only as of the date made, and, other than as may be required by law, the Partnership undertakes no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
CONTACT
TransMontaigne Partners L.P.
(303) 626-8200
Frederick W. Boutin, Chief Executive Officer
Robert T. Fuller, Chief Financial Officer