SandRidge Energy, Inc. (fka SDOCQ)

[Neil24]

About those Notices from SandRidge about Selling Shares...

I think some shareholders might have been confused about those notices they have been receiving. I did a little research because I was confused myself.

The notice places heavy restrictions on the sales of shares by any "Substantial Shareholder." If you look at the order on Docket entry #90, a "substantial shareholder" is defined as someone who owns at least 32,451,000 shares, which represents 4.5% of the company's total shares.

https://cases.primeclerk.com/sandridge/Home-DownloadPDF?id1=MzQwMjE3&id2=0

If you look at the motion at docket entry #15, the company requested these restrictions on these "substantial shareholders" in order to avoid a possible change in ownership in the company, which would threaten the projected tax credits the company is supposed to receive for net operating losses.

https://cases.primeclerk.com/sandridge/Home-DownloadPDF?id1=MzM3MjQ1&id2=0

So if you own less than 32 million shares, then there are no restrictions on what you do with them.