Energy XXI (Bermuda) Limited Exchange of Convertible Perpetual Preferred Stock (6994P)
October 03 2013 - 11:40AM
UK Regulatory
TIDMEXXI
RNS Number : 6994P
Energy XXI (Bermuda) Limited
03 October 2013
Energy XXI (Bermuda) Limited ("Energy XXI" or "the Company")
Exchange of 5.625% Convertible Perpetual Preferred Stock
Energy XXI announces the closing of exchange agreements (the
"Exchange Agreements") with a holder of the Company's 5.625%
Convertible Perpetual Preferred Stock, par value $0.001 per share
(the "Preferred Stock"), to issue shares (the "Exchange
Securities") of the Company's common stock, par value $0.005 per
share (the "Common Stock"), in exchange for 149 total shares of
Preferred Stock.
Pursuant to the Exchange Agreements, the Company has issued a
number of shares of Common Stock equal to the sum, rounded up to
the next whole number, of the number of shares of such Preferred
Stock multiplied by 10.0147.
Accordingly, 1,493 new shares of Common Stock have been issued
for the above conversion.
After such issuance, the Company has a total of 75,801,748
common shares in issue, excluding 3,853,563 treasury shares, and
813,039 shares of 5.625% Preferred Stock outstanding.
Application has been made for the 1,493 new shares of Common
Stock to be admitted to trading on AIM and admission is expected to
occur on or around 10 October 2013.
3 October 2013
Enquiries of the Company
Energy XXI
Stewart Lawrence
Vice President, Investor Relations and Communications
713-351-3006
slawrence@energyxxi.com
Greg Smith
Director, Investor Relations
713-351-3149
gsmith@energyxxi.com
Cantor Fitzgerald
Nominated Adviser: David Porter, Rick Thompson
Corporate Broking: Richard Redmayne
Tel: +44 (0) 20 7894 7000
Pelham Bell Pottinger
James Henderson
jhenderson@pelhambellpottinger.co.uk
Mark Antelme
mantelme@pelhambellpottinger.co.uk
+44 (0) 20 7861 3232
This information is provided by RNS
The company news service from the London Stock Exchange
END
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