Magnum Hunter stockholders approved an agreement and plan of merger that provides for the acquisition of Magnum Hunter by Cimarex. Cimarex stockholders approved the issuance of common stock to Magnum Hunter stockholders in connection with the deal.
Approximately 99 percent of Magnum Hunter shares and Cimarex shares voted were in favor of the transaction. Cimarex stockholders also approved all other resolutions contained in the joint proxy statement/prospectus.
The merger is expected to close on June 7, 2005, at which time Magnum Hunter stockholders will receive 0.415 shares of Cimarex common stock in exchange for each share of Magnum Hunter common stock. Cimarex will issue approximately 39.5 million common shares to Magnum Hunter stockholders and will then have approximately 81.3 million shares outstanding.
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