Energy XXI (Bermuda) Limited Director's Shareholding (5195T)
14 December 2012 - 6:00PM
UK Regulatory
TIDMEXXI
RNS Number : 5195T
Energy XXI (Bermuda) Limited
14 December 2012
Energy XXI (Bermuda) Limited ("Energy XXI" or "the Company")
Director's Shareholding
Energy XXI notifies that the Company Chairman and Chief
Executive Officer, John D. Schiller, Jr., has entered into an
agreement with the Energy XXI Services, LLC Employee Stock Purchase
Plan ("the Plan") to purchase US$0.005 common stock in the Company
("Shares"). The Plan covers the period 1 January 2013 through 30
June 2013 and following a regular deduction from salary, allows
employees to purchase new common stock at a 15 percent discount
from the lower of the common stock closing price on the first or
last day of the period. Mr. Schiller has entered into the plan up
to US $21,250 and can withdraw from the Plan at any time.
Mr. Schiller has also elected to purchase shares under the
Company 401(k) Plan during 2013. The 401(k) Plan allows for up to
50 percent of the participant's annual 401(k) contribution and
Company match to be used to purchase shares. Based on Mr.
Schiller's annual contribution limit of US $23,000 plus the Company
match, Mr. Schiller will purchase a total of US $23,000 of shares
based on the stock price when the payroll deductions are made.
14 December 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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