Issue of Shares,Treasury Shares, & TVR (0992G)
June 25 2012 - 10:33AM
UK Regulatory
TIDMEXXI
RNS Number : 0992G
Energy XXI (Bermuda) Limited
25 June 2012
Energy XXI (Bermuda) Limited ("Energy XXI" or "the Company")
Issue of Shares, Treasury Shares, and Total Voting Rights
Energy XXI announces today that it expects to issue the
following numbers of its US $0.005 common stock ("Shares") by an
issue of new Shares and Shares out of treasury in July and August
as a result of the vesting of employee restricted stock units
(RSUs) and performance based units (PBUs).
July and August 2012 - 457,534 Shares (June and July 2012 RSU
and PBU vesting)
Included in the totals above are estimated Shares agreed to be
transferred or issued to directors of the Company under the vesting
of PBUs. In addition to these PBU Shares, the Company's Chairman
and Chief Executive Officer, John D. Schiller, Jr., also acquired
90 Shares for May 16, 2012 to June 15, 2012 purchases through
regular payroll deductions in the 401(k) Plan.
Follows is a summary of Mr. Schiller's estimated Share ownership
which assumes the PBU Shares are issued and includes the Shares
acquired in the 401(k) Plan to date:
Executive Director Shares Resultant Shareholding % of Issued Share
Acquired Capital
-------------------- ---------- ----------------------- ------------------
John D. Schiller,
Jr. 96,027 1,472,883 1.858%
-------------------- ---------- ----------------------- ------------------
Assuming the above Shares are issued, the Company will need to
issue 309,643 Shares out of treasury Shares and 147,891 new Shares.
The Company will then have a total of 79,268,245 Shares in issue.
The total number of voting rights in the Company will therefore be
79,268,245.
25 June 2012
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
Seymour Pierce
Nominated Adviser: Jonathan Wright
Corporate Broking: Richard Redmayne
Tel: +44 (0) 20 7107 8000
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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