Beacon Appoints Christine Stroh Reddy as Executive Vice President, General Counsel & Corporate Secretary

Beacon Appoints Christine Stroh Reddy as Executive Vice President, General Counsel & Corporate Secretary

HERNDON, Va.–(BUSINESS WIRE)–Beacon (Nasdaq: BECN) (the “Company”) announced today the appointment of Christine Stroh Reddy as Executive Vice President, General Counsel and Corporate Secretary. Ms. Reddy will join Beacon later this month and assume her new responsibilities immediately as current General Counsel Ross D. Cooper transitions to his previously announced advisory role.

Prior to joining Beacon, Ms. Reddy served fifteen years as Vice President, Deputy General Counsel and Deputy Corporate Secretary at Fannie Mae (OTCMKTS: FNMA), a financial services company that is the leading source of mortgage financing in the United States, providing $1.4 trillion to support housing in 2020. At Fannie Mae, Ms. Reddy held roles of increasing responsibility and managed the corporate governance functions as well as legal services for corporate operations. She was an executive partner in driving key strategic priorities and innovation objectives, including for digital transformation and ESG. She serves as an advisor to a regulatory technology firm and held a board seat on a private technology company central to the electronic tracking and transfer of residential mortgages for more than five years. From 2000-2006, Ms. Reddy held roles of increasing responsibility at the Public Broadcasting Service, culminating as Corporate Secretary and Deputy General Counsel. Earlier in her career, she held various legal roles at Crowell & Moring, LLP, the National Association of Employer Organizations, the United Way of America and Patton Boggs, LLP. Ms. Reddy earned a Phi Beta Kappa bachelor’s degree from the University of Virginia and a law degree from the University of Virginia School of Law.

“I am extremely pleased to welcome Christine to the Beacon team,” said Julian Francis, President and CEO of Beacon. “Christine’s deep governance and legal expertise, combined with her background in housing finance and digital strategy, will strengthen Beacon as we continue to innovate for our customers and deliver improved growth and operational performance to drive shareholder value.”

Ms. Reddy added: “I am very excited to join Beacon at this juncture in its growth. The building industry is a vibrant and essential facet of our economy and Beacon’s central role in delivery of last mile logistics for building materials is impressive. I am eager to partner with Julian and the executive team and add my perspectives as we work together to deliver on the Company’s strategic initiatives.”

About Beacon

Founded in 1928, Beacon is a Fortune 500, publicly traded distributor of roofing materials and complementary building products in North America, operating over 400 branches throughout all 50 states in the U.S. and 6 provinces in Canada. Beacon serves an extensive base of over 90,000 customers, utilizing its vast branch network and diverse service offerings to provide high-quality products and support throughout the entire business lifecycle. Beacon offers its own private label brand, TRI-BUILT, and has a proprietary digital account management suite, Beacon PRO+, which allows customers to manage their businesses online. Beacon’s stock is traded on the Nasdaq Global Select Market under the ticker symbol BECN. To learn more about Beacon, please visit www.becn.com.

INVESTOR CONTACT

James Wilson

VP Finance & Treasurer

[email protected]

571-306-7501

MEDIA CONTACT

Jennifer Lewis

VP, Communications and Corporate Social Responsibility

[email protected]

571-752-1048

KEYWORDS: Virginia United States North America

INDUSTRY KEYWORDS: Professional Services Retail Human Resources Specialty Construction & Property Building Systems

MEDIA:

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STUDY: Global CTV Impressions Increase 60% Year-Over-Year, Becoming a Pivotal Channel for Omni-Channel Marketers

Innovid’s Global Omni-Channel Benchmarks Report uncovers how advertising trends shifted amid COVID-19 pandemic

Report highlights the surge in streaming and importance of keeping TV the centerpoint of omni-channel advertising strategies to seamlessly manage experiences across channels

NEW YORK, April 05, 2021 (GLOBE NEWSWIRE) — Innovid, the only independent omni-channel advertising and analytics platform built for television, today announced its Global Omni-Channel Benchmarks Report, which represents the most complete view of video advertising data available in the industry and includes display advertising data to give marketers an omni-channel view of the state of advertising. The report reveals that in 2020, connected TV (CTV) accounted for 40% of all video impressions, up from 31% the year before, highlighting the significant consumer shift from linear to CTV during the pandemic.

“As brands look to build deeper relationships with consumers, it’s important to consider the shift to CTV and the opportunity that arises when the largest screen in the home is now addressable,” said Jessica Hogue, GM Measurement & Analytics at Innovid. “Brands need integrated solutions designed with TV at the center to personalize, deliver, and measure ads across every screen and device.”

Some of the report’s key takeaways and findings include:

  • CTV Skyrockets, Mobile Climbs, and PC Hangs On

    • Global CTV impressions saw a 60% year-over-year increase. Outside of North America, LATAM was the leader in CTV impression share growth.
    • Mobile hangs on to its top position, with 43% of global video impressions and 68% of global display impressions while PC impressions continue to dip, resulting in just a 16% share of global video impressions and a 32% share of global display impressions.
  • Programmatic Energizes Omni-Channel Marketing

    • Across all video impressions, those served via programmatic publishers saw a 54% year-over-year increase.
    • Programmatic impressions served to CTV increased by over 200% year-over-year.
  • Advanced Creative Boosts Agility, Engagement, and Loyalty

    • In March, Innovid saw more advertisers swapping out creative across all formats. In H2, Innovid recorded a 100% growth in dynamic creative video impressions. Brands were clearly leaning on dynamic creative to stay nimble and swap out messaging as quickly as situations changed.
    • In terms of category, retail, auto, and CPG were the top verticals leveraging advanced creative last year.
    • Advanced creative video formats generated a 309% lift in engagement and an average of 34 additional seconds earned.
    • For display, dynamic creative generated a 37% lift in CTR over standard display — a number that jumps to 82% on mobile devices.

“The past year upended the way we engage with content, and brands have had to adjust their strategies accordingly,” added Hogue. “This report reveals that brands leaned on omni-channel solutions and advanced creative over the past year to navigate the pandemic. Programmatic also grew amid marketer demands for greater flexibility during this time. Even as the world starts to look more like pre-lockdown life, the consumer shift to streaming is here to stay. We anticipate brands will lean in to omni-channel strategies more after learning so much about their audience and the opportunities available with CTV.”

The study analyzed nearly 250 billion video and display advertising impressions served on Innovid’s platform, between January 1 and December 31, 2020. Researchers looked across mobile, desktop, CTV devices, and social platforms to compile the most complete picture of video and display advertising in terms of benchmarks and insights globally.

You can read the full Innovid Global Omni-Channel Benchmarks Report here and explore ongoing video insights on the Innovid iQ dashboard.

About Innovid

Innovid is the only independent omni-channel advertising and analytics platform built for television. We use data to enable the personalization, delivery, and measurement of ads across the widest breadth of digitally enabled channels in the market including TV, video, display, social, and OOH. Innovid serves a global client base of brands, agencies, and publishers through over twelve offices across the Americas, Europe, and Asia Pacific. 



Contact:

Adam Brett
516.320.0164
[email protected]

Quebec Media Personality Julie Snyder is Dreaming Big to End Women’s Cancers

Snyder and the MUHC Foundation are raising $500,000 in the No More Women Lost campaign.

MONTREAL, April 05, 2021 (GLOBE NEWSWIRE) — Media personality and business woman Julie Snyder knows how devastating a diagnosis of ovarian cancer can be. Snyder lost her mother to ovarian cancer in 2018. In 2020, almost 3,000 women were diagnosed with the disease and an estimated 1,950 died from it. More can be done to help save women’s lives. To ensure no more women, mothers, sisters, aunts, daughters or friends will be lost. How? With the DOvEE project.

The MUHC’s Director of Gynecologic Oncology, Dr. Lucy Gilbert founded the Detecting Ovarian and Endometrial Cancers Early (DOvEE) project. Ovarian and endometrial cancers are known as “silent killers” because they present no symptoms until they have spread to other parts of the body. By the time cancer is detected, women face grim survival rates.

In 2018, Dr. Gilbert developed the DOvEEgene test: a simple diagnostic test that detects ovarian and endometrial cancers in their early stages, ensuring a greater chance of survival. The DOvEEgene test works much like a pap smear does for cervical cancer.

Julie Snyder and the MUHC Foundation are dreaming big together to raise $500,000. This will fund the final stages of the DOvEE phase 3 clinical trial in Montreal. 2600 women will take part in the trial, helping to change the course of medicine for future generations. Women from 45 to 70 years old can register to participate in the trial, which is set to begin in May.

A Meaningful Collaboration

Watch Snyder’s show, Noovo’s La semaines des 4 Julie the week of April 5th as she goes on a mission to save the lives of women like her own mother. Snyder will showcase the impact of Dr. Gilbert’s work with survivor’s stories and information. Snyder will be encouraging Quebecers to invest in DOvEE by texting JULIE to 41010 to make a $25 donation.

The MUHC Foundation and Julie Snyder want all Quebecers to join together and ensure there will be No More Women Lost to ovarian and endometrial cancers. Together, we can make these cancers detectable and curable. The campaign continues until Mother’s Day on May 9th.

Visit:
www.dreambigwithjulie.ca
for more information.

Interviews available with:

Julie Snyder, Host, La semaine des 4 Julie
Dr. Lucy Gilbert (English only, but a DOvEE representative is available for French interviews)
Julie Quenneville, President, MUHC Foundation
Suzanne Darcy, Cancer Survivor
Louise Solomita, lost her mother to Ovarian Cancer

About the McGill University Health Centre Foundation:

The McGill University Health Centre (MUHC) Foundation raises funds to support excellence in patient care, research and teaching at the McGill University Health Centre, one of the top university hospitals in Canada. Our Dream Big Campaign to change the course of lives and medicine is raising millions of dollars to solve humanity’s deadliest puzzles: infectious diseases; end cancer as a life-threatening illness; fix broken hearts through innovative cardiac care; detect the silent killers—ovarian and endometrial cancers—early; create the best skilled health care teams in Canada; and much more. We are rallying our entire community to solve the world’s most complex health care challenges.

Media Contacts:

Tarah Schwartz
Director, Communications & Marketing
McGill University Health Centre Foundation
[email protected]

Kelly Albert
Communications Officer
McGill University Health Centre Foundation
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/47647146-5a9e-4fbc-ac65-83c3fa8d8a60



Airborne Training Services Launches New Website

Airborne Training Services Launches New Website

WILMINGTON, Ohio–(BUSINESS WIRE)–
Airborne Training Services, the airline pilot training subsidiary of Air Transport Services Group, Inc. (Nasdaq: ATSG), today announced the launch of its newly redesigned website at www.airbornets.com. The new site features a streamlined design with information about their class offerings and training equipment.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210405005329/en/

Airborne Training Services announced the launch of its newly redesigned website at www.airbornets.com. (Graphic: Business Wire)

Airborne Training Services announced the launch of its newly redesigned website at www.airbornets.com. (Graphic: Business Wire)

The new website provides visitors with an overview of the many offerings of the Airborne Training Services team, including Airline Transport Pilot Certification Training Program (ATP-CTP) training, door training, and access to FAA-certified Level C Boeing 767 and Boeing 757 full flight simulators. The company provides training under a Part 142 certificate from the U.S. Federal Aviation Administration.

Airborne Training Services’ new website is the first of six new sites ATSG will launch throughout 2021. Visitors are encouraged to sign up for ATSG’s email alerts at www.atsginc.com/investors/investor-resources/email-alerts.

About Airborne Training Services

Airborne Training Services is an FAA Part 142 training center that provides training to airline pilots on Boeing 767s. The company’s airline-developed training programs—including Airline Transport Pilot Certification Training Program courses—focus on safety, professionalism, and modern training techniques built on four decades of cargo airline training experience. The company’s training center is located within ATSG’s facilities at the Wilmington Air Park in Ohio, where it offers in-depth classroom instruction and flight training on an FAA-certified Level C Boeing 767 full flight simulator. Airborne Training Services is a wholly owned subsidiary of Air Transport Services Group, Inc. Learn more at www.airbornets.com.

About Air Transport Services Group, Inc.

ATSG is a leading provider of aircraft leasing and air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. ATSG, through its leasing and airline subsidiaries, is the world’s largest owner and operator of converted Boeing 767 freighter aircraft. Through its principal subsidiaries, including three airlines with separate and distinct U.S. FAA Part 121 Air Carrier certificates, ATSG provides aircraft leasing, air cargo lift, passenger ACMI and charter services, aircraft maintenance services and airport ground services. ATSG’s subsidiaries include Cargo Aircraft Management, Inc.; Airborne Global Solutions, Inc.; ABX Air, Inc.; Air Transport International, Inc.; Omni Air International, LLC; Airborne Maintenance and Engineering Services, Inc., including its subsidiary, Pemco World Air Services, Inc.; and LGSTX Services, Inc. For more information, please see www.atsginc.com.

Kym Parks

Marketing Manager

ATSG Inc.

937-366-3133

 

KEYWORDS: Ohio United States North America

INDUSTRY KEYWORDS: Education Training Air Transport

MEDIA:

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Airborne Training Services announced the launch of its newly redesigned website at www.airbornets.com. (Graphic: Business Wire)

Pax8 Canada Expands Microsoft Team and Adds More Dedicated Resources

Impressive Growth Results Lay Foundation for Future Success

DENVER, April 05, 2021 (GLOBE NEWSWIRE) — Pax8, the best place for IT professionals to buy cloud products, today announced investment plans into its Canadian Microsoft business, which grew a notable 73% since June of 2020. The company plans to expand in the market and add significant resources to its partners in the region, driving more Microsoft cloud sales enablement and support.

“As we continue to expand into new regions globally, we are excited to announce our plans to invest more into Pax8 Canada,” said Nick Heddy, Chief Revenue Officer at Pax8. “To drive continued success, we are expanding our presence, adding new leadership to the team, and increasing focus to drive success for our Canadian partners. The Pax8 Canada leadership team is highly regarded in the industry and comprises years of channel expertise and Microsoft knowledge. We are thrilled to see the growth and early successes in the region.”

Pax8 built an expansive team of technical experts focusing on the key cloud solutions to support the Microsoft business in Canada. It includes 16 Productivity Solutions Consultants, 13 Security Solutions Consultants, and eight Infrastructure Solutions Consultants. The company plans to hire three more Canadian employees in the next two months, adding to the existing in-country leadership team members. The leadership team includes:

Mariane Louvet, Director of Sales, Pax8 Canada: Mariane is a proven sales leader in the technology industry, with experience building successful channel programs for top cloud technology vendors. In her role at Pax8 Canada, Mariane is responsible for creating a world-class sales organization and driving channel engagement.

Diana Hakki, Microsoft Program Manager, Pax8 Canada: Diana brings years of Microsoft experience and insight to Pax8 Canada, including a deep knowledge of Modern Workplace sales enablement. In her role, Diana leads the strategy, development, and execution of programs designed to drive Microsoft sales.

“We are excited about Pax8’s commitment to the Canadian market and the investment to providing the team, education, and resources to enable the partner community to grow their Microsoft business,” said Andre Faria, Channel Manager at Microsoft Canada. “Pax8’s simplified approach and technology to easily bill and provision will help drive the adoption of cloud and prove to be hugely impactful on the region and industry. We look forward to strengthening our partnership with Pax8 Canada through strategic initiatives, innovative solutions, and their exceptional partner enablement programs, producing phenomenal results.”

“From the moment we began our partnership, Pax8 provided immediate value to our business,” said Jordan Chezy​, Executive Vice President at ANR Solutions. “Their support is best-in-class, and our dedicated channel account manager constantly listens to our needs to offer the right solutions. By attending their Mission Briefings and Bootcamps, we gained a deeper technical understanding of Microsoft’s products and learned effective ways to position the solutions and increase sales. Pax8 empowers us with the tools and resources to enable our clients and succeed in the modern channel. We are encouraged that they plan to expand in Canada and look forward to more success together.”

To learn more about Pax8 and how to sign up to become a partner, please visit www.pax8.com.

About Pax8

Pax8 is modernizing how partners buy, sell, and manage cloud. As a born-in-the-cloud company, Pax8 simplifies the buying journey, empowering its partners to achieve more with cloud technology. The company’s technology displaces legacy distribution by connecting the channel ecosystem to its award-winning transactional cloud marketplace. Through billing, provisioning, automation, industry-leading PSA integrations, and pre and post-sales support, and education, Pax8 is a proven disruptor in the market. Pax8 has ranked in the Inc. 5000 for three consecutive years — #68 in 2018, #60 in 2019, and #111 in 2020 — as one of the fastest-growing private companies in the US. If you want to be successful with cloud, you want to work with Pax8. Get started today at www.pax8.com.

Follow Pax8 on

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,

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Media contact:
John Trent
PR Manager at Pax8
[email protected] 



KHN and Guardian US Win Batten Medal for “Lost on the Frontline”

The Year-Long Investigative Project Chronicles the Lives of More than 3,600 Health Care Workers Who Died of COVID-19

San Francisco, CA, April 05, 2021 (GLOBE NEWSWIRE) — The News Leaders Association (NLA) awarded KFF’s Kaiser Health News (KHN) and Guardian US the 2021 Batten Medal for Coverage of the Coronavirus Pandemic for their year-long “Lost on the Frontline” investigation documenting the lives of more than 3,600 health care workers in the U.S. who died of COVID-19 after contracting the disease on the job.

The project honored their lives and asked, “Did so many have to die?” by investigating the circumstances of their exposure, examining the sometimes-unnecessary risks borne by those on the front lines of care.

The Batten Medal is one of the highest honors awarded by the NLA, recognizing coverage of the pandemic that reflects the previously unthinkable challenges that newsrooms had to overcome in the face of this once-in-a-generation crisis, named in memory of James K. Batten, a reporter, editor and ultimately Knight Ridder’s chief executive officer.

The project began in April 2020 after the death of Frank Gabrin, the first emergency room doctor known to have died of COVID-19. A reporter for the KHN/Guardian project obtained text messages about Gabrin’s deep concerns about shortages of personal protective equipment as he treated a crush of COVID-19 patients in New York City and northern New Jersey. Yet in the days after his death, the ER chiefs at his hospitals offered full-throated denials of any PPE problems.

From there, the project documented the lives and COVID-related deaths of health care workers, many of whom faced daily risks that employers charged with protecting them were often quick to dismiss or deny.

As part of the project, more than 70 reporters spent nearly a year filing public records requests, cross-connecting governmental and private data sources, scouring obituaries and online posts. Frequently, relatives spoke about their deceased family members with the team for the first time.

Ultimately, the team tracked more than 3,600 deaths in an interactive database and published hundreds of in-depth profiles of those lost on the frontlines, the nation’s most complete accounting of the pandemic’s toll on health care workers. The profiles not only feature doctors, nurses and other medical professions, but also others working at hospitals, nursing homes and other medical facilities, including aides, administrative employees, and cleaning and maintenance staff.

As the project evolved, the team of journalists published multiple investigative stories examining why workers died and assembled a clearer picture of who was hit hardest: Workers of color, younger staffers, and low-paid employees with extensive patient contact working in the shadows of American health care.

“The government wasn’t counting or investigating health care worker deaths, so journalists filled the void,” said Elisabeth Rosenthal, KHN’s editor-in-chief. “As a result, readers and families of the victims have a memorial to those lost. Equally important, we pursued accountability from all the institutions that failed to protect the safety of these workers, who were forced to put their lives on the line.” 

“These workers fought the hardest and the longest on behalf of others over the last year. ‘Lost on the Frontline’ was the most expansive piece of journalism the Guardian undertook in 2020 and hopefully it will serve as a historical record that marks their service and remembers their lives,” said John Mulholland, editor of Guardian US.

About KFF and KHN

KHN (Kaiser Health News) is a national newsroom that produces in-depth journalism about health issues. Together with Policy Analysis and Polling, KHN is one of the three major operating programs at KFF (Kaiser Family Foundation). KFF is an endowed nonprofit organization providing information on health issues to the nation.

About Guardian News & Media

Guardian US is renowned for its Pulitzer Prize-winning investigation into widespread secret surveillance by the National Security Agency, and for other award-winning work, including The Paradise Papers. Guardian US has bureaus in New York, Washington, New Orleans and Oakland, California, covering the climate crisis, politics, race and immigration, gender, national security and more.

Guardian News & Media (GNM), publisher of theguardian.com, is one of the largest English-speaking newspaper websites in the world. Since launching its U.S. and Australian digital editions in 2011 and 2013, respectively, traffic from outside of the U.K. now represents over two-thirds of The Guardian’s total digital audience.



Craig Palosky
KFF
(202) 347-5270
[email protected]

Energizer Holdings, Inc. To Webcast A Discussion Of Second Quarter Fiscal 2021 Results On May 10, 2021

PR Newswire

ST. LOUIS, April 5, 2021 /PRNewswire/ — Energizer Holdings, Inc. (NYSE: ENR) will report results for its Second Quarter Fiscal 2021 before the market opens on May 10, 2021.  Energizer also will discuss its results during an investor conference call that will be webcast on May 10, 2021, beginning at 10 a.m. ET. The call will be hosted by Chief Executive Officer Mark LaVigne, Chief Financial Officer Tim Gorman and John Drabik, Chief Accounting Officer.

All interested parties may access a live webcast of this conference call at www.energizerholdings.com, under the “Investors” and “Events and Presentations” tabs or by using the following link: 

https://www.webcaster4.com/Webcast/Page/1192/40264

For those unable to participate during the live webcast, a replay will be available on www.energizerholdings.com, under the “Investors,” “Events and Presentations,” and “Past Events” tabs. 

About Energizer:

Energizer Holdings Inc. (Energizer, NYSE: ENR), headquartered in St. Louis, is one of the world’s largest manufacturers and distributors of primary batteries, portable lights, and auto care appearance, performance, refrigerant and fragrance products. Its portfolio of globally recognized brands include Energizer®, Armor All®, Eveready®, Rayovac®, STP®, Varta®, A/C Pro®, Refresh Your Car!®, California Scents®, Driven®, Bahama & Co.®, LEXOL®, Eagle One®, Nu Finish®, Scratch Doctor® and Tuff Stuff®. As a global, branded consumer products company, Energizer’s mission is to lead the charge to deliver value to its customers and consumers better than anyone else. Visit www.energizerholdings.com for more details.

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SOURCE Energizer Holdings, Inc.

Oracle Statement Regarding Oracle v. Google

PR Newswire

AUSTIN, Texas, April 5, 2021 /PRNewswire/ — “The Google platform just got bigger and market power greater  the barriers to entry higher and the ability to compete lower.  They stole Java and spent a decade litigating as only a monopolist can.  This behavior is exactly why regulatory authorities around the world and in the United States are examining Google’s business practices.”

–       Dorian Daley, Executive Vice President and General Counsel, Oracle

About Oracle
Oracle offers suites of integrated applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at oracle.com.

Trademarks
Oracle and Java are registered trademarks of Oracle Corporation.

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SOURCE Oracle

LEAF GROUP ALERT: Bragar Eagel & Squire, P.C. Investigates Sale of LEAF and Encourages Investors to Contact the Firm

NEW YORK, April 05, 2021 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Leaf Group Ltd. (NYSE: LEAF) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Graham Holdings Company (NYSE: GHC).

Click here to learn more and participate in the action.

On April 5, 2021, Leaf Group announced that it had signed an agreement to be acquired by Graham Holdings for approximately $323 million. Pursuant to the merger agreement, Leaf Group stockholders will receive $8.50 in cash for each share of Leaf Group common stock owned. The deal is scheduled to close in June or July of 2021.

Bragar Eagel & Squire is concerned that Leaf Group’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Leaf Group’s stockholders.

If you own shares of Leaf Group and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at [email protected] or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:

Bragar Eagel & Squire, P.C.
Melissa Fortunato, Esq.
Alexandra Raymond, Esq.
[email protected]
www.bespc.com



Sabine Royalty Trust Announces Monthly Cash Distribution for April 2021 and 2021 Reserve Quantities

PR Newswire

DALLAS, April 5, 2021 /PRNewswire/ — Simmons Bank, as Trustee of the Sabine Royalty Trust (NYSE: SBR), today declared a cash distribution to the holders of its units of beneficial interest of $0.237940 per unit, payable on April 29, 2021, to unit holders of record on April 15, 2021.  Sabine’s cash distribution history, current and prior year financial reports and tax information booklets, a link to filings made with the Securities and Exchange Commission and more can be found on its website at http://www.sbr-sabine.com/.  Additionally, printed reports can be requested and are mailed free of charge.

During the month of March, the respective shelter-at-home/work-from-home orders across the spectrum of the industry has significantly affected the posting of revenues for the Trust, until the following month of April.  As adjustments are made accordingly, the functions of the Trust are still being performed, although on a delayed basis.  We will continue to strive to make the operations of the Trust and its providers, as fluid as possible.

The impact of the precipitous drop in energy pricing are not reflected in this month’s revenue, however it has been seen in the previous months.  With the assets of the Royalty Trust being almost true royalty interest ownership of established production streams, production should continue, however the over-supply of existing industry inventories will affect the ability to transport on down the production stream. As the result of these aforementioned factors, various producers/operators/purchasers may not be able to continue as they have been and could affect payment to the Trust.  We are taking steps to monitor those various entities as they have a direct relationship with the Trust.  The ownership of the Trust’s various royalty interests should not be diminished, as that will continue.

This distribution reflects primarily the oil production for January 2021 and the gas production for December 2020.  Preliminary production volumes are approximately 50,741 barrels of oil and 650,124 Mcf of gas.  Preliminary prices are approximately $49.56 per barrel of oil and $2.56 per Mcf of gas.

The table below compares this month’s production and prices to the previous month’s:

Net to Trust Sales

Volumes

Average Price

Oil
(bbls)

Gas
(Mcf)

Oil

(per bbl)

Gas

(per Mcf)

Current Month

50,741

650,124

$49.56

$2.56

Prior Month

51,259

719,512

$41.30

$2.44

Revenues are only distributed after they are received, verified and posted.  Most energy companies normally issue payment of royalties on or about the 25th of every month, and depending on mail delivery, a varying amount of royalties are not received until after the revenue posting on the last business day of the month.  The revenues received after that date will be posted within 30 days of receipt.

Due to the timing of the end of the month of March, approximately $966,000 of revenue received will be posted in the following month of April in addition to normal receipts during April.  Since the close of business in March and prior to this press release, there has been approximately $987,000 in revenue received.

Sabine Royalty Trust, as it does after the end of each year, had a year-end Reserve Report prepared in accordance with the Securities and Exchange Commission’s requirements.  This report provides an evaluation of the estimated asset value as of December 31 of each year, which can be used to estimate the remaining life of the Trust.

The estimated net proved reserves, as of January 1, 2021, attributable to the Trust from the properties appraised are approximately 6.3 million barrels of oil and 39.8 billion cubic feet of gas with a future net value of approximately $229,432,000 with a discounted value at 10% of $120,769,000.  With these estimated quantities of this year’s reserve estimate of 6.3 million barrels of oil and 39.8 billion cubic feet of gas remaining, it could be estimated that the Trust still has a life span of 9 to 12 years.  The report is an exhibit to the Trust’s Annual Report on Form 10-K that was filed on March 26, 2021 and is available to all unitholders at this time on the SEC website and Sabine’s website.

The 2020 Annual Report with Form 10-K and the January 1, 2021 Reserve Summary will be posted in the month of April on the Sabine website at http://www.sbr-sabine.com/. 

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SOURCE Sabine Royalty Trust