|Energy Xxi (DI)
||COM SHS USD0.005 (DI)
||EPS - Basic
||Market Cap (m)
|Oil & Gas Producers
Energy Xxi (DI) Share Discussion Threads
Showing 1 to 9 of 25 messages
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|Have a look at NASDAQ (http://finance.yahoo.com/q?s=EXXI) - plenty of liquidity and a narrow spread.|
Another illiquid & hugely speculative small energy share with an incredibly wide spread top today's % risers - the spread so wide it's a 35-40% instant loss / penalty on your hard earned capital just for being brave enough to invest....
Ahem.. So.. where do I sign. ?
On the watchlist for if I'm feeling lucky..
pure heads or tails punt and all at the mercy of the MM's at these odds.|
|well wish i found them last week!|
|I think you should do more research - they are de-listing from AIM in a couple of months.|
|Just found it Paul and it looks interesting. Steady income from proven reserves, manageable debt and also ISA compatable. Any thoughts?|
|Is Anyone out there watching this company??|
Energy 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.|
|Energy XXI Announces New AIM Trading Symbol
and 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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