SemGroup, L.P. announced today that June 20, 2006, at
5:00 p.m. EDT is the new expiration date for the tender offer and
consent solicitation connected with its TransMontaigne Inc. merger.
The previously announced deadline was May 18, 2006, at 5:00 p.m. EDT.
SemGroup's cash tender offer is for the $200 million aggregate
principal amount of TransMontaigne's 9-1/8% Senior Subordinated Notes
due 2010 (the "Notes"). The offer was announced April 3, 2006. Except
for the extended expiration date, all provisions of the tender offer
and consent solicitation remain unchanged.
SemGroup also said that 99.89 percent of the Notes have been
tendered as of May 18, 2006, at 5:00 p.m. EDT.
As a result of the new expiration date, the total consideration
will be calculated using the Reference Security yield on June 7, 2006,
at 2:00 p.m. EDT.
The offer is subject to the satisfaction or waiver of certain
conditions, including the consummation of the Merger. The terms of the
offer are described in the Offer to Purchase and Consent Solicitation
Statement dated April 3, 2006. Copies may be obtained from Global
Bondholder Services, the information agent for the offer, at
866-389-1500 (U.S. toll free) and 212-430-3774 (collect).
SemGroup, L.P. has engaged Banc of America Securities LLC to act
as the exclusive dealer manager and solicitation agent in connection
with the offer. Questions regarding the offer may be directed to Banc
of America Securities LLC, High Yield Special Products, at
888-292-0070 (U.S. toll free) and 704-388-4813 (collect).
This announcement is not an offer to purchase, a solicitation of
an offer to purchase or a solicitation of consent with respect to any
securities. The offer is being made solely by the Offer to Purchase
and Consent Solicitation Statement dated April 3, 2006.
SemGroup, L.P. is a midstream service company providing the energy
industry means to move products from the wellhead to the wholesale
marketplace. It is ranked No. 9 on Forbes magazine's list of America's
Largest Private Companies. For additional information, visit
www.semgrouplp.com.
