$ATLS .358 Email Received Back.
$ATLS Dropped Hard Yesterday and I Think the Bloomberg Article Hit It Hard.
My Question was about the ceo pay.
Here is the Response.
Hi Chris,
Thank you for your email. Unfortunately, the Bloomberg article you are citing is fraught with inaccuracies and deceptive journalism. The truth is, the payments made to the Cohens were for the growing of Atlas Pipeline and its parent until their ultimate sale to Targa last year for $7.7 BILLION dollars. The founding Cohens built APL from a $50 million dollar IPO in 1999 over 15 years to ultimately sell for $7.7bn in March of 2015. Investors were richly rewarded for that growth and ultimate sale. The compensation had nothing to do with the two current Atlas companies trading, ARP or ATLS. Neither company had anything to do with the merger last year, aside from a new ATLS being spun out . ARP was not involved, and the ATLS entity that is trading now was a new company born/spun-out after the merger. While the share price performance of ARP and ATLS has been undoubtedly disappointing, they have nothing to do with the compensation cited in the Bloomberg article which was part of past success of a pipeline company leading to an ultimate sale, rewarding those shareholders.
Thank you,
Investor Relations
