Resolute Energy Corporation announced that it has appointed three new outside directors, determined to seek stockholder approval of a proposal to declassify its Board of Directors and reached a settlement with Monarch Alternative Capital LP. In addition, as part of its ongoing effort to enhance stockholder value, the expanded Resolute Board will promptly conduct an in-depth review, assisted by its financial advisers, Goldman Sachs & Co. LLC and Petrie Partners, LLC, of Resolute’s business plan, competitive positioning and any potential strategic alternatives that will enhance the Company’s goal of creating stockholder value. The newly appointed directors are Joseph Citarrella, Managing Principal of Monarch Alternative Capital LP; Wilkie Colyer, Principal of Goff Capital Inc.; and Robert Raymond, founding member and portfolio manager of RR Advisors, LLC d/b/a RCH Energy. Mr. Citarrella will serve in the director class that will stand again for election in 2019 and Messrs. Colyer and Raymond will serve in the director class that will stand again for election in 2020. As a result of these appointments, the Board will comprise 11 directors. The company’s directors are currently divided into three classes, with the members of each class serving staggered three-year terms. At its 2018 Annual Meeting, the company will seek stockholder approval to amend it’s certificate of incorporation to provide for the declassification of the Board. If approved by the company’s stockholders at the 2018 Annual Meeting, each director elected at the 2018 Annual Meeting and each director elected at each future annual meeting will be elected for a one-year term such that commencing with the 2020 Annual Meeting, all directors standing for election at such meeting will be elected for one-year terms.