News Column

COMPRESSCO PARTNERS, L.P. FILES (8-K) Disclosing Other Events, Financial Statements and Exhibits

July 14, 2014

Item 8.01. Other Events.

On July 11, 2014, the Board of Directors of Compressco Partners GP Inc. (the "Board of Directors"), the general partner of Compressco Partners, L.P. (the "Partnership"), declared a cash distribution attributable to the quarter ended June 30, 2014 of $0.4525 per outstanding unit, which is an increase of $0.0075 per outstanding unit over the previous quarterly distribution of $0.445 per outstanding unit. The distribution will be payable on August 15, 2014 to the Partnership's unitholders of record as of the close of business on July 21, 2014.

Also on July 11, 2014, the Partnership issued a press release announcing that the Board of Directors had confirmed and approved that, upon payment of the second quarter distribution, the financial tests required for conversion of the Partnership's outstanding subordinated units into common units will have been met. Accordingly, the Partnership's 6,273,970 subordinated units will convert on a one-for-one basis into common units effective August 18, 2014, the first business day following the second quarter distribution. In addition, the Partnership announced that it plans to publicly release its financial results for the quarter ended June 30, 2014 on Thursday, August 7, 2014 and will hold a conference call at 10:30 a.m. Eastern Time on that day to discuss the financial results.

A copy of the press release announcing the cash distribution, conversion of the subordinated units, and schedule for the financial results release is attached hereto as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. Exhibit Number Description Press Release, dated July 11, 2014, issued by Compressco 99.1 Partners, L.P. 1


For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Edgar Glimpses

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters