Riposte Capital urges SilverBow to take ‘decisive action’ to unlock value

Riposte Capital, one of the largest shareholders of SilverBow Resources, owning approximately 7.5% of the company’s outstanding common stock, sent the following letter to SilverBow’s Board of Directors. Riposte was compelled to publicly share the letter following the company’s repeated refusal to take simple and decisive actions to unlock shareholder value, including the removal of the industry’s only poison pill, which has been widely criticized by the investment community. Notably, the company unilaterally extended its poison pill immediately after its most recent annual meeting, affording shareholders no rationale for the action and no opportunity to vote on the matter.