SandRidge Energy To Expand Board To Allow Two Icahn Capital Nominees

(RTTNews) - SandRidge Energy Inc. (SD) said that its board will increase the number of directors from five to seven, effective immediately prior to the 2018 Annual Meeting of Shareholders.

SandRidge recommended shareholders support its current directors - Sylvia Barnes, Kenneth Beer, Michael Bennett, William Griffin and David Kornder - at the upcoming Annual Meeting.

In addition, the SandRidge Board encourages shareholders to support two independent nominees put forth by Icahn Capital. SandRidge also noted that its Board evaluated all of the Icahn Capital nominees and offered to appoint John J. "Jack" Lipinski and Randolph C. Read as directors in connection with a settlement proposal that Icahn Capital refused.

SandRidge also said it will use a "universal proxy card" at the upcoming annual meeting. The use of a universal proxy card provides shareholders with flexibility and clarity regarding their votes in a contested election and enables shareholders to cast votes for any director nominee on a single card, regardless of who nominated them, without attending the shareholder meeting in person.