Item 5.07 Submission of Matters to a Vote of Security Holders.
On August 16, 2022, the Board of Directors (the "Board") of Riley Exploration
Permian, Inc. (the "Company") acting by unanimous written consent (the "Board
Consent") approved the amendment and restatement of Company's bylaws (the
"Restated Bylaws") to change the Company's fiscal year period from October 1
through September 30 to a fiscal year period from January 1 through December 31
each year commencing with the 2022 fiscal year. The Restated Bylaws require the
adoption and approval of the holders of record of at least a majority of the
issued and outstanding shares of common stock of the Company. The Board Consent
set August 17, 2022 as the record date ("Record Date") for purposes of the
stockholder action to approve the Restated Bylaws.
On August 19, 2022, certain stockholders (the "Majority Stockholders") of the
Company took action by written consent in lieu of a meeting ("Written Consent")
to adopt and approve the Restated Bylaws, which includes the change of the
Company's fiscal year period described above. As of the Record Date, the
Majority Stockholders held 14,902,286, or approximately 75% of the Company's
issued and outstanding common stock.
On August 22, 2022, the Company filed a preliminary Information Statement on
Schedule 14C with the Securities and Exchange Commission ("Information
Statement") describing the action taken by written consent by the holders of a
majority of the issued and outstanding shares of common stock of the Company to
approve the Restated Bylaws. In accordance with Rule 14c-2 under the Securities
Exchange Act of 1934, as amended, the Restated Bylaws will become effective 20
calendar days after the date on which the definitive Information Statement is
sent or given to the Company's stockholders.
The above description is only a summary and is qualified in its entirety by
reference to the full text of the Third Amended and Restated Bylaws, a copy of
which is provided in Exhibit A to the Information Statement.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses