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Tuesday, May 08, 2012 12:57:56 AM
http://www.monumentresourcesinc.com/docs/Shareholder_Letter_March_2012.pdf
MONUMENT RESOURCES, INC.
2050 South Oneida Street, Suite 106
Denver, Colorado 80224
http://www.monumentresourcesinc.com
March 23, 2012
Dear Shareholders:
I would like to take this opportunity to inform you of our recent and planned activities pursuant to the sale of our Leavenworth County Kansas oil and gas properties and other assets.
First of all, I want to thank everyone who voted at the special shareholders meeting which was held on March 16, 2012. The proposals to sell the Kansas assets and conditionally dissolve the Company were both overwhelmingly approved. Also on March 16, 2012, we held the closing to sell the Kansas assets. The first payment was received and the final payment is due in early May 2012.
As noted in the proxy material, the board of directors plans to pay a cash distribution estimated at between $0.10 and $0.12 per share of common stock. We plan to pay the cash distributions as soon as practical after the final closing is completed. The payment will be made only to persons who were shareholders of record on February 15, 2012. Therefore, if you acquire shares after that date, you will not be entitled to the cash distribution absent a contract with the seller of the shares.
We are hopeful that a suitable business opportunity will be found to utilize the Company as a public vehicle as described in our March 1, 2012 proxy statement. Therefore, we ask all shareholders not to throw their stock certificates away or otherwise dispose of them until the “public shell” option is explored. As noted in the proxy material, if a suitable business opportunity is not found, then the board of directors will execute the plan to dissolve Monument as a Colorado corporation.
Additionally, enclosed you will find a W-8 or W-9 form which you should fill out and return to Computershare (our distribution agent) in the enclosed self-addressed envelope. If Computershare does not have this form, or its equivalent, in their files when they mail the cash distribution, they will be required to withhold 28% of the cash proceeds you were to receive.
I personally would like to thank the shareholders for your past loyalty and support through these recent difficult times in the natural gas industry. The sale of our Kansas assets was the only way we felt we could salvage any value for the shareholders and return some your investment.
We will keep you informed as to the next steps the Company takes and hopefully Monument Resources, Inc. will be around for the foreseeable future.
Best regards,
A.G. Foust
President
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