Announcement • Jul 10
Gaslog Partners LP Approves and Declares Special Cash Distribution, Payable on July 12, 2023 GasLog Partners LP announced that at a special meeting of the common unitholders of the Partnership (the “common unitholders”) held on July 7, 2023. Pursuant to the terms of the Agreement and Plan of Merger, dated as of April 6, 2023 (the “Merger Agreement”), by and among the Partnership, GasLog GP LLC, the general partner of the Partnership (the “General Partner”), Parent and Saturn Merger Sub LLC, a direct wholly owned subsidiary of Parent, on July 7, 2023, the board of directors of the Partnership approved and declared a special cash distribution of $3.28 per common unit (with a corresponding amount distributed in respect of each General Partner Unit (as defined in the Merger Agreement)) (the “Special Distribution”). The Special Distribution will be paid on July 12, 2023 (the “Special Distribution Payment Date”) to the General Partner and all common unitholders of record as of July 10, 2023 (the “Special Distribution Record Date”), subject to the applicability of due-bill trading. Due to the size of the Special Distribution, as required by the rules of the New York Stock Exchange (the “NYSE”), during the period beginning July 7, 2023, one business day prior to the Special Distribution Record Date, through the Special Distribution Payment Date, the common units will be traded with “due bills”, representing an assignment of the right to receive the Special Distribution (such period of time, the “Due-bill Period”). Announcement • May 17
Tourlite Capital Management Sends a Letter and Presentation to Board of GasLog Partners LP On May 15, 2023, Tourlite Capital Management announced that it has sent a letter to board of GasLog Partners LP, stating that it has analyzed new proxy materials filed by the Company and an analysis performed by Evercore, disagree with several points that have a substantial impact on valuation and without a condition that requires a majority of the unaffiliated units, it allows the General Partner to exert significant power over minority shareholders. Further, Tourlite Capital stated that it considering the new materials, it estimates fair value of ~$12 per share, an ~39% premium to the current offer and urged the Company board of directors and the board’s Conflicts Committee to reconsider the current price offered for Company, which significantly underestimates the fair value of the assets. Further, Tourlite Capital stated that it plans to vote against the current bid and urges fellow shareholders to do the same. Reported Earnings • Mar 08
Full year 2022 earnings released: EPS: US$1.77 (vs US$0.47 loss in FY 2021) Full year 2022 results: EPS: US$1.77 (up from US$0.47 loss in FY 2021). Revenue: US$371.0m (up 14% from FY 2021). Net income: US$92.7m (up US$116.7m from FY 2021). Profit margin: 25% (up from net loss in FY 2021). Revenue is expected to fall by 7.5% p.a. on average during the next 3 years compared to a 6.4% decline forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. 
