UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM 8-K



 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report: May 29, 2020

(Date of earliest event reported)

 


 

 

Enservco Corporation

(Exact name of registrant as specified in its charter)

 


 

Delaware

 

001-36335

 

84-0811316

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(IRS Employer Identification No.)

 

999 18th St., Suite 1925N

Denver, Colorado 80202

(Address of principal executive offices) (Zip Code)

 

(303) 333-3678

(Registrant’s telephone number, including area code)

 

(Former name or former address, if changed since last report)

 


 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company  

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $.005 par value per share

ENSV

NYSE

 

 

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Item 5.02  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On May 29, 2020, Ian E. Dickinson notified Enservco Corporation (the “Company”) of his resignation as President, Chief Executive Officer, a member of the Company’s Board of Directors (the “Board”), as well as all positions held with the Company’s subsidiaries as of such date (the “Separation Date”) along with his withdrawal to stand for nomination to the Company’s Board at the upcoming annual meeting of shareholders to be held June 26, 2020. Mr. Dickinson’s resignation was not the result of any disagreement with the Company, its Board, or management, or any matter relating to the Company’s operations, policies or practices.

 

The Company also entered into an Executive Severance Agreement with Mr. Dickinson effective May 29, 2020 (the “Severance Agreement”), which provides for certain modified severance compensation and benefits to Mr. Dickinson in lieu of and in settlement of the compensation and benefits to be paid to Mr. Dickinson upon termination of his employment. Pursuant to the terms of the Severance Agreement, (i) Mr. Dickinson’s vested options representing 1,200,000 shares of the Company’s common stock will remain exercisable for 180 days following the Separation Date, (ii) all unvested shares under Mr. Dickinson’s restricted stock award agreements shall vest in full on the Separation Date less applicable withholding tax, (iii) Mr. Dickinson was awarded 100,000 shares of restricted stock under the Company’s incentive plan that vested 100% on the Separation Date less applicable withholding taxes, (iv) Mr. Dickinson will be paid the sum of $100,000 less applicable employment tax withholdings as a severance payment, and (v) the Company will provide Mr. Dickinson with the same or similar health care benefits as provided to Mr. Dickinson as of the Separate Date to be provided for twelve months following the Separation Date. The Severance Agreement contains other standard provisions contained in agreements of this nature including restrictive covenants concerning confidentiality, non-competition, non-solicitation and non-disparagement, and a general release of claims Mr. Dickinson may have against the Company, its directors, officers and associated persons.

 

The foregoing description of the Severance Agreement does not purport to be complete and is qualified in its entirety by reference to such agreement, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.

 

In addition, effective May 29, 2020, the Board of Directors of the Company appointed Richard A. Murphy, a member of the Company’s Board, as the Company’s Executive Chairman to serve as the principal executive officer of the Company.

 

Murphy, age 50, has been a member of the Board since January 19, 2016. Mr. Murphy currently serves as the managing member of Cross River Capital Management, LLC the general partner of Cross River Partners, L.P., the largest shareholder of the Company. Mr. Murphy founded Cross River Partners, L.P. in April of 2002. Cross River Partners, L.P. invests in small-cap companies with market capitalizations up to $1.5 billion at the time of initial investment. Mr. Murphy’s primary responsibility as managing member is investment research, analysis of investment opportunities, and coordinating final investment decisions for Cross River Partners, L.P. Prior to founding Cross River Partners, L.P., Mr. Murphy was an analyst and asset portfolio manager with SunAmerica Asset Management, LLC from 1998 to 2002. Mr. Murphy also worked as an associate investment banker at ING Barings in its food and agricultural division in 1998 and he worked at Chase Manhattan Bank from 1992 to 1996. He served on the Advisory Board of CMS Bankcorp, Inc. and currently sits on the Applied Investment Management Board for the University of Notre Dame. Mr. Murphy is chairman of the audit committee for MRI Heritage Brands, Inc., a private restaurant company. Mr. Murphy received his MBA from the University of Notre Dame-Mendoza College of Business in 1998 and a Bachelor’s Degree in political science from Gettysburg College in 1992.

          

 

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Item 7.01.        Regulation FD Disclosure.

 

On June 2, 2020, the Company issued a press release announcing certain of the matters described in Item 5.02 of this Current Report on Form 8-K. A copy of the press release is included as Exhibit 99.2 to this Form 8-K.

 

The information set forth in this Item 7.01, including Exhibit 99.1, is being furnished pursuant to Item 7.01 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and it shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or under the Exchange Act, except as expressly provided by such specific reference in such a filing.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.

 

Description

 

 

 

10.1

 

Executive Severance Agreement effective May 29, 2020, by and between Ian E. Dickinson and the Company. Filed herewith.

     

99.1

 

Press Release dated June 2, 2020.

 

 

 

 

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SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

                                                      ENSERVCO CORPORATION

     

Date:  June 2, 2020

By:

/s/ Richard A. Murphy

   

 

   

Executive Chairman

 

 

 

 

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EXHIBIT INDEX

 

 

Exhibit No.

 

Description

 

 

 

10.1

 

Executive Severance Agreement effective May 29, 2020, by and between Ian E. Dickinson and the Company. Filed herewith.
     

99.1

 

Press Release dated June 2, 2020.

 

 

 
 

Exhibit 10.1

 

EXECUTIVE SEVERANCE

AGREEMENT

 

 

             This Executive Severance Agreement (“Agreement”) is entered into as of May 29, 2020, by and between Enservco Corporation (the “Company”) and Ian E. Dickinson (the “Executive”), who are collectively referred to herein as the “Parties” and each as a “Party.”

 

            WHEREAS, Executive is employed as President and Chief Executive Officer of the Company pursuant to an Employment Agreement by and between the Parties entered into effective May 9, 2017 (“Employment Agreement”), which provides for certain benefits and compensation to be paid to the Executive upon termination of his employment;

 

            WHEREAS, the Executive has informed the Company of his intention to resign as a Board member of the Company and all positions he holds with the Company and its affiliates effective May 29, 2020 (the “Resignation Date”);

 

            WHEREAS, the Parties desire to resolve all potential claims of the Executive under the Employment Agreement, that certain Stock Option Agreement by and between the Parties entered into effective June 26, 2017 (the “Stock Option Agreement”), and those certain Restricted Stock Award Agreements by and between the Parties entered into effective June 14, 2018 and June 14, 2019 (the “Restricted Stock Award Agreements”); and

 

NOW THEREFORE, in consideration of the terms and promises made in this Agreement, and other good and valuable consideration, the sufficiency of which is hereby acknowledged, the Parties agree as follows:

 

1.         Resignation of Executive.  Executive’s resignation (the “Resignation”) will occur as follows: Executive shall resign his position as President and Chief Executive Officer and a member of the Board of Directors of the Company and all positions he holds with the Company on the Resignation Date and withdraw from nomination to election to the Board in connection with the Company’s annual meeting of stockholders to be held on June 26, 2020. The Parties agree that the Resignation is voluntary.

 

2.         Acknowledgments.  The Parties acknowledge and agree that for purposes of all plans, agreements, policies, and arrangements of the Company and its affiliates in which the Executive participated or to which the Executive was a party (including, without limitation, the Employment Agreement), the Resignation shall be treated as a resignation other than due to an Effective Termination Without Cause (as defined in the Employment Agreement) pursuant to Subsection 5b of the Employment Agreement, as modified by this Agreement.

 

3.         Executive’s Compensation.  Notwithstanding any provision of the Employment Agreement, the Company agrees to pay and provide to Executive the following amounts and benefits as a result of the Resignation:

 

(a)        Accrued Salary and Benefits.  The Company shall pay Executive his base salary through the Resignation Date in accordance with the Company’s normal schedule for payroll payments. In addition, on the Resignation Date, the Executive shall be paid any remaining balance of the accrued and unpaid benefits, including unused vacation days, paid time off and expense reimbursements which are then due and payable under the Employment Agreement. This payment shall be paid regardless of the Executive’s right to revoke this Agreement under Section 12 below.

 

(b)       Stock Options.  Executive holds certain vested and unvested stock options to purchase shares of the Company’s common stock pursuant to the Company’s 2016 Stock Incentive Plan (the “2016 Plan”) as described in the Stock Option Agreement. Pursuant to the terms of the Stock Option Agreement, (i) the Vested Options  (which the Parties agree constitute one million two hundred thousand (1,200,000) options) shall remain exercisable until 5:00 p.m. Mountain Time the date that is 180 days following the Resignation Date (and if exercised after 90 days following the Resignation Date such options will not be considered Incentive Stock Options) and, if unexercised on such date, shall be forfeited by the Executive; and (ii) Executive shall forfeit on the Resignation Date all Unvested Options.

 

(c)        Restricted Stock Awards.  Executive holds certain unvested shares of restricted stock pursuant to the 2016 Plan as described in the Restricted Stock Award Agreements. As part of this Agreement, all unvested shares under the Restricted Stock Agreement shall vest in full on the Resignation Date, less applicable withholding taxes as determined by the Company. Also, Executive shall be awarded 100,000 shares of restricted stock under the 2016 Plan that will vest 100% on the Resignation Date less applicable withholding taxes as determined by the Company.

 

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(d)       Severance Payment. Within three (3) business days after June 1, 2020, Executive shall be paid the sum of $100,000 less applicable withholding taxes as determined by the Company. If the Company fails to make this payment, this Agreement shall be void ab initio.

 

(e)        Health Care Benefits. The Company will provide Executive with the same or similar health care benefits (including life, dental, and vision, if any) as provided to Executive as of the Resignation Date, such health care benefits to be provided for a period of twelve (12) months from the Resignation Date.

 

(f)        Indemnification. Executive shall be entitled to indemnification under the Company’s Certificate of Incorporation and bylaws existing as of the date hereof for officers and directors of the Company and the Company shall use reasonable efforts to seek coverage for Executive under the Company’s applicable insurance policies in the event any such foregoing indemnification shall arise.

 

            4.         Section 409A.  It is intended that this Agreement shall comply with the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the Treasury Regulations relating thereto, or an exemption to Section 409A of the Code. Any payments that qualify for the “short-term deferral” exception shall be paid under such exception. For purposes of Section 409A of the Code, each payment under this Agreement shall be treated as a separate payment for purposes of the exclusion for certain short-term deferral amounts. In no event may the Executive, directly or indirectly, designate the calendar year of any payment under this Agreement. Notwithstanding anything to the contrary in this Agreement, all reimbursements provided under this Agreement shall be made or provided in accordance with the requirements of Section 409A of the Code, including, where applicable, the requirement that (a) any reimbursement is for expenses incurred during the Executive’s lifetime (or during a shorter period of time specified in this Agreement); (b) the amount of expenses eligible for reimbursement in any other calendar year; (c) the reimbursement of an eligible expense will be made no later than the last day of the calendar year following the year in which the expense is incurred; and (d) the right to reimbursement is not subject to liquidation or exchange for another benefit.

 

            5.         Restrictive Covenants.

 

(a)        Confidential Information. During Executive’s employment and for a period of two years following the Resignation Date, Executive will not, without the prior written consent of the Board of Directors of the Company, use, divulge, disclose or make accessible to any other person, firm, partnership, corporation or other entity any Confidential Information pertaining to the business of the Company or any of its affiliates, except (a) while employed by the Company, in the business of and for the benefit of the Company, or (b) as required by law. “Confidential Information” includes without limitation non-public information concerning the financial data, business plans, product development (or other proprietary product data), customer lists, marketing, acquisition and divestiture plans and other non-public, proprietary and confidential information of the Company. Executive or his legal representatives, heirs or designated beneficiaries must return all Confidential Information within five (5) days of the Resignation Date. Executive acknowledges that this Section 5(a) survives the termination of Executive’s employment and is enforceable by the Company at any time as long as it remains in effect.

 

(b)       Non-Competition.  For a period of one year following the Resignation Date, and in lieu of any similar provision in his Employment Agreement, Executive agrees that, without the prior written consent of the Board of Directors of the Company, he will not: (i) engage in or have any direct interest in, as an employee, officer, director, agent, subcontractor, consultant, security holder, partner, creditor or otherwise, any business in direct competition with the Company regarding hot oiling and fluid heating other than as a 2% or less equity stakeholder; (ii) cause or attempt to cause any person who is, or was at any time during the six months immediately preceding the Resignation Date, an employee of the Company to leave the employment of the Company; or (iii) solicit, divert or take away, or attempt to take away, the business or patronage of any client, customer or account, or prospective client, customer or account, of the Company. For purposes of this Section 5(b), a business will be deemed to be in competition with the Company if it is in the business of providing services to oil and/or gas production companies similar to those provided by the Company as of the Resignation Date. Executive acknowledges that this Section 5(b) survives the termination of Executive’s employment, and is enforceable by the Company at any time as long as it remains in effect.

 

(i)          Executive and the Company agree that this covenant not to compete is a reasonable covenant under the circumstances with respect to both scope and duration, and further agree that if, in the opinion of any court of competent jurisdiction, such restraint is not reasonable in any respect, such court will have the right, power and authority to excise or modify such provision or provisions of this covenant as to the court will appear not reasonable and to enforce the remainder of the covenant as so amended.

 

(ii)       Executive agrees that any breach of the covenants contained in this Section 5(b) would irreparably injure the Company. Accordingly, Executive agrees that the Company may, in addition to pursuing any other remedies it may have in law and equity, obtain an injunction, without the posting of a bond or other security, against Executive from any court having jurisdiction over the matter restraining any further violation of this Agreement by Executive and cease making any payments otherwise required by this Agreement.

 

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(c)        Intellectual Property. Executive acknowledges and agrees that all intellectual property created, acquired, adapted, modified or improved, in whole or in part, by or through the efforts of Executive during the course of his employment by the Company, including without limitation all copyrights, patents, trademarks, service marks, trade secrets, know-how or other work product in any way related to the Company’s operations and activities, are works for hire and are owned exclusively by the Company, and Executive hereby disclaims any right or interest in or to any such intellectual property.

 

(d)       Company Property. On or before the Resignation Date, Executive agrees to return to the Company any and all records, files, notes, memoranda, reports, work product and similar items, and any manuals, drawings, sketches, plans, tape recordings, computer programs, disks, cassettes and other physical representations of any information, relating to the Company, or any of its affiliates, whether or not constituting Confidential Information. Executive also agrees to return to the Company any other property belonging to the Company no later than five (5) days after the Resignation Date. Executive acknowledges and agrees that retaining any copies of Confidential Information or other property belonging to the Company will be deemed to be the misappropriation of the property of the Company.

 

6.         Non-Disparagement.  The Executive and the Company (including the Board of Directors and persons speaking with the authority of the Company whether or not speaking on behalf of the Company) agree to represent the other Party in a positive light and not to disparage or in any way communicate to any person or entity any negative information or opinion concerning the Executive or the Company, its subsidiaries and affiliates, or any of their partners, members, family members, shareholders, officers, directors, executives or agents, or any of them. This provision shall not prohibit either Party from making any statements or taking any actions required by law, or reporting any actions or inactions either Party believes to be unlawful. This provision shall not be interpreted to require or encourage either Party to make any representations.

 

7.         General Release.  Executive agrees that, in consideration of the benefits to be conferred upon Executive pursuant to this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, he will, and hereby does, forever and irrevocably release and discharge Company, its officers, directors, executives, independent contractors, agents, affiliates, parents, subsidiaries, divisions, predecessors, executive benefit plans, purchasers, assigns, representatives, successors and successors in interest from any and all claims, actions, agreements causes of action, damages of any kind, demands, debts, defenses, grievances, obligations, contracts, complaints, promises, judgments, expenses, costs, attorneys’ fees, compensation, and liabilities, known or unknown, whatsoever which he now has, has had, or may have, whether the same be at law, in equity, or mixed, in any way arising from or relating to any act, occurrence, or transaction on or before the date of this Agreement, including without limitation his employment and separation of employment from Company. Executive expressly acknowledges that this general release includes, but is not limited to, claims under any state, local or federal wage and hour law or wage payment or collection law, and claims of discrimination, retaliation or harassment based on age, race, color, sex, religion, handicap, disability, national origin, ancestry, citizenship, marital status, sexual orientation, genetic information or any other protected basis, or any other claim of employment discrimination, retaliation or harassment under the Family and Medical Leave Act (29 U.S.C. §§ 2601 et seq.), the Americans With Disabilities Act (42 U.S.C. §§ 12101 et seq.), the Rehabilitation Act of 1973 (29 U.S.C. §§ 701 et seq.), the Age Discrimination In Employment Act (including the Older Workers Benefit Protection Act) (29 U.S.C. §§ 626 et seq.), Title VII of the Civil Rights Acts of 1964 and 1991 as amended (42 U.S.C. §§ 2000e et seq.), the Executive Retirement Income Security Act (29 U.S.C. §§ 1001 et seq.), the Consolidated Omnibus Budget Reconciliation Act of 1985 (29 U.S.C. §§ 1161 et seq.), the Genetic Information Nondiscrimination Act of 2008 (42 U.S.C. §§ 2000ff et seq.), the Fair Labor Standards Act (29 U.S.C. §§ 201 et seq.), the Colorado Anti-Discrimination Act (C.R.S. § 24-34-402 et seq.), or any other federal, state, or local law, regulation or ordinance prohibiting employment discrimination or governing employment. The Parties agree that this general release does not release (i) any claims arising out of any alleged breach of this Agreement, (ii) any rights or claims the Executive may have for indemnification under the Certificate of Incorporation of the Company, the bylaws of the Company or Delaware law or any insurance policy applicable to Executive, (iii) non-waivable employee benefits, including vested retirement benefits, or (iv) any claims arising out of any alleged breach of the Stock Option Agreement with respect to the Vested Options held by the Executive as described in Section 3(b), which such agreement the Executive and Company agree remain in full force and effect.

 

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            8.         Binding Effect. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective personal representatives, heirs, executors, administrators, successors, and assigns.

 

            9.         Governing Law. The Parties agree that this Agreement and the rights and obligations hereunder shall be governed by, and construed in accordance with, the laws of the
State of Colorado regardless of any principles of conflicts of laws or choice of laws of any jurisdiction, except as to any matter which is governed by federal law.

 

10.       Venue and Attorneys’ Fees. The Parties agree that any claimed violation of this Agreement must be submitted for determination in the state courts in the City and County of Denver, Colorado. In any litigation or arbitration of any dispute between the Parties, the prevailing Party, as determined by the finder of fact, shall be entitled to recover reasonable attorney fees and the other costs of the proceeding.

 

            11.       Severability; Interpretation of Agreement. If it is determined by a court of competent jurisdiction that any provisions of this Agreement are invalid or unenforceable, for any reason, the remaining provisions will remain in full force and effect provided such interpretation maintains the agreement of the parties represented by this Agreement substantially in effect. The language of all parts of this Agreement shall in all cases be construed as a whole, according to its fair meaning, and not strictly for or against either of the Parties.

 

            12.       Time to Consider Agreement; Revocation. Executive understands that he has twenty-one (21) days from the date of his receipt of this Agreement to consider his decision to sign it with the release of claims under the Age Discrimination in Employment Act, as amended, and that he may unilaterally waive this period at his election. Executive’s signature on this Agreement constitutes an express waiver of the twenty-one (21) day period. The Parties agree that any revisions or modifications to this Agreement, whether material or immaterial, will not and did not restart this time period. Executive acknowledges that he may revoke this Agreement for up to and including seven (7) days after his execution of this Agreement.

 

            13.       Full and Complete Agreement. The Parties agree and understand that no promises, covenants, representations, understandings or warranties have been made other than those expressly contained herein, and that this Agreement constitutes the entire agreement between the Parties. The Parties agree that this Agreement shall not be modified except in writing signed by each of the Parties hereto.

 

            14.       Agreement Freely Entered. Each Party represents to the other Party that it carefully read this Agreement, that it understands all of the terms hereof, that it had a reasonable amount of time to consider its decision to sign this Agreement, that it has been advised in writing and has had the opportunity to discuss all the terms of this Agreement with an attorney of its choice, that in executing this Agreement it does not rely and has not relied upon any representation or statement made by any other Party nor the agents, representatives or attorneys of such Party with regard to the subject matter, basis, or effect of the Agreement, and that it enters into this Agreement voluntarily, of its own free will, without any duress and with knowledge of its meaning and effect. In entering into this Agreement on behalf of the Company, the signatory on behalf of the Company represents to Executive that he does so with all authority necessary to do so.

 

            15.       Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original instrument, but all such counterparts together shall constitute but one agreement. Any Party’s delivery of an executed counterpart signature page by facsimile, DocuSign or email is as effective as executing and delivering this agreement in the presence of the other Party. No Party shall be bound hereof until such time as both Parties have executed counterparts of this Agreement.

 

[signature page follows]

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             IN WITNESS WHEREOF, the Parties have duly executed this Agreement as of May 29, 2020.

 

 

THE COMPANY:

ENSERVCO CORPORATION

 /s/ Richard Murphy                                              

 

By: Richard Murphy

Title: Chairman of the Board

 

 

EXECUTIVE:

IAN E. DICKINSON

/s/ Ian E. Dickinson                                      

Ian E. Dickinson

 

 

 

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Exhibit 99.1

  

 

Enservco Announces Departure of CEO Ian E. Dickinson and Appointment of Richard A. Murphy as Executive Chairman

 

DENVER, CO – June 2, 2020 – Enservco Corporation (NYSE American: ENSV), a diversified provider of specialized well-site services to the domestic onshore conventional and unconventional oil and gas industries, today announced that President and Chief Executive Officer Ian E. Dickinson has resigned from the Company effective May 29, 2020. 

 

Richard A. Murphy has been appointed as Executive Chairman of the Company and will serve as a principal executive officer of the Company for the foreseeable future. Mr. Murphy was appointed to the Board of Directors in January of 2016.

 

Mr. Murphy, age 50, has been a member of the Company’s Board since January 19, 2016. Mr. Murphy currently serves as the managing member of Cross River Capital Management, LLC, the general partner of Cross River Partners, L.P., the largest shareholder of the Company. Mr. Murphy founded Cross River Partners, L.P. in April of 2002. Cross River Partners, L.P. invests in small-cap companies with market capitalizations up to $1.5 billion at the time of initial investment. Mr. Murphy’s primary responsibility as managing member is investment research, analysis of investment opportunities, and coordinating final investment decisions for Cross River Partners, L.P. Prior to founding Cross River Partners, L.P., Mr. Murphy was an analyst and asset portfolio manager with SunAmerica Asset Management, LLC from 1998 to 2002. Mr. Murphy also worked as an associate investment banker at ING Barings in its food and agricultural division in 1998 and he worked at Chase Manhattan Bank from 1992 to 1996. He served on the Advisory Board of CMS Bankcorp, Inc. and currently sits on the Applied Investment Management Board for the University of Notre Dame. Mr. Murphy is chairman of the audit committee for MRI Heritage Brands, Inc., a private restaurant company. Mr. Murphy received his MBA from the University of Notre Dame-Mendoza College of Business in 1998 and a Bachelor’s Degree in political science from Gettysburg College in 1992.

 

About Enservco

 

Through its various operating subsidiaries, Enservco provides a wide range of oilfield services, including hot oiling, acidizing, frac water heating and related services.  The Company has a broad geographic footprint covering seven major domestic oil and gas basins. Additional information is available at www.enservco.com

 

Cautionary Note Regarding Forward-Looking Statements

 

This release contains information that is "forward-looking" in that it describes events and conditions Enservco reasonably expects to occur in the future. Expectations for the future of Enservco are dependent upon a number of factors, and there can be no assurance that Enservco will achieve any results as contemplated herein. Certain statements contained in this release using the terms "may," "expects to," and other terms denoting future possibilities, are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks, which are beyond Enservco's ability to predict, or control and which may cause actual results to differ materially from the projections or estimates contained herein. Among these risks are those set forth in Enservco’s annual report on Form 10-K for the year ended December 31, 2019, and subsequently filed documents with the SEC. It is important that each person reviewing this release understand the significant risks involving Enservco.  Enservco disclaims any obligation to update any forward-looking statement made herein.

 

Contact:

 

Jay Pfeiffer

 

Pfeiffer High Investor Relations, Inc.

 

Phone: 303-880-9000

 

Email: jay@pfeifferhigh.com