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Share Name | Share Symbol | Market | Stock Type |
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Energy Xxi (DI) | EXXI | London | Ordinary Share |
Open Price | Low Price | High Price | Close Price | Previous Close |
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4.00 |
Top Posts |
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Posted at 01/6/2007 00:15 by steelwatch RNS Number:4924XEnergy XXI (Bermuda) Limited 31 May 2007 Energy XXI Announces U.S. Stock Listing HOUSTON - May 31, 2007 - Energy XXI (Bermuda) Limited today announced its unrestricted common shares (cusip G10082 108) (ISIN BMG100821088) have been approved for trading on U.S. over-the-counter bulletin boards under the ticker symbol EXXIF.OB, effective immediately. The company continues to expect these shares to become eligible to trade on the NASDAQ system under the symbol EXXI in the near future. Also, as announced yesterday, these same unrestricted shares will be admitted to trading on AIM, a market operated by the London Stock Exchange, under the ticker symbol EXXI, effective from June 6, 2007. Unlike its restricted shares, which trade only on AIM and may only be purchased by certain types of investors, the unrestricted shares may be purchased by any interested party. The unrestricted shares trading on AIM under the symbol EXXI will be admitted to the CREST electronic settlement system by means of a depositary interest facility. Likewise, the unrestricted shares trading in the U.S. markets are expected to be admitted to the DTC electronic settlement system before or concurrent with the NASDAQ listing, thereby facilitating electronic trading without the need to deliver physical certificates. "Our U.S. and U.K. listings of unrestricted common stock will create shares that are freely tradable on both sides of the Atlantic, involving identical stock certificates," Energy XXI Chairman and CEO John Schiller said. "Notably, these actions do not change the company's share count. Shares of unrestricted stock are created when the holders of restricted stock sell those shares in SEC Form S-1 or Rule 144 transactions. Upon execution of such trades, the restricted stock is retired and is replaced by unrestricted stock. By lifting the current restrictions and allowing the shares to trade either in U.S. or U.K. markets, investors can take advantage of a longer trading day and choose the market that offers the best execution and pricing for their shares, which should markedly improve trading liquidity, and therefore pricing transparency." Energy XXI shareholders who include their shares as selling shareholders in the company's Form S-1, including shares underlying outstanding warrants and unit purchase options, will be able to trade those and deliver unrestricted shares to purchasers whenever the S-1 is effective. In addition, holders of the restricted shares, regardless of their inclusion in the company's Form S-1, may be able to sell their shares pursuant to Rule 144 and deliver to the purchaser stock that is no longer restricted. Complete descriptions of settlement procedures for shareholders interested in selling or exchanging their shares are included in the investor section of the Energy XXI website, www.energyxxi.com, and are available from Collins Stewart Europe Limited and Jefferies International, Energy XXI joint listing brokers in the United Kingdom, and from Jefferies & Company, BMO Capital Markets, Collins Stewart and Natexis Bleichroeder, Energy XXI market makers in the United States. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. |
Posted at 30/5/2007 08:30 by steelwatch Energy XXI Announces New AIM Trading Symboland Depositary Interest HOUSTON - May 30, 2007 - Energy XXI (Bermuda) Limited today announced it has completed the process to have its unrestricted common shares admitted to trading on AIM, a market operated by the London Stock Exchange, under the ticker symbol EXXI, effective from June 6, 2007. Unlike its restricted shares (currently AIM: EGY), which may only be purchased by certain types of investors, the unrestricted shares (AIM: EXXI) may be purchased by any interested party. The unrestricted shares will be admitted to the CREST electronic settlement system by means of a depositary interest facility. Participation in CREST will enable the EXXI unrestricted common shares (cusip G10082108) (ISIN BMG100821088) to be traded and settled wholly electronically, without the need for share certificates. Settlement through CREST will commence on June 6, 2007, in accordance with Operational Bulletin No. 1311 issued by CREST on 29 May 2007. A letter is being sent to affected shareholders explaining the impact of this development. Unlike transfers of certificated common shares, transfers of the depositary interests will be subject to stamp duty reserve tax at the rate of 0.5%. Concurrent with the addition of the new EXXI symbol, the company's original restricted common shares and warrants will begin trading under new symbols, and will remain ineligible for CREST settlement. The restricted common shares, which currently trade under the symbol EGY, will be traded under the ticker symbol EXXS. Energy XXI warrants, which currently trade under the symbol EGYW, will be traded under the ticker symbol EXXW. EXXS and EXXW continue to be restricted and only certain purchasers are qualified to acquire these securities. The table below summarizes these changes. Old ticker New ticker CUSIP ISIN Restricted Shares EGY EXXS G100091013 BMG100091013 Restricted Warrants EGYW EXXW G100091195 BMG100091195 Unrestricted Shares - EXXI G10082108 BMG100821088 |
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