EXCO Announces Mailing of Definitive Proxy Materials for November 16, 2015 Special Meeting
EXCO Resources, Inc. (NYSE:XCO) (“EXCO”) today announced that it has
commenced mailing definitive proxy materials in connection with its
upcoming special meeting of shareholders, which will take place on
Monday, November 16, 2015 at 2:00 p.m., central time, at EXCO’s
corporate office located at 12377 Merit Drive, First Floor Conference
Center, Dallas, Texas. Shareholders of record as of September 30, 2015
are entitled to vote their common shares at the special meeting and may
begin submitting their proxies.
At the special meeting, EXCO will seek shareholder approval of two
amendments to EXCO’s Amended and Restated Certificate of Formation: (1)
an amendment to effect, at the discretion of EXCO’s Board of Directors
(the “Board”), a reverse share split at a ratio of up to 1-for-10 common
shares to be determined by the Board and a proportional reduction in the
total number of common shares authorized for issuance and (2) an
amendment to limit the benefits of EXCO’s waiver of the corporate
opportunities doctrine solely to C. John Wilder, Jr., Executive Chairman
of EXCO’s Board. Upon receipt of shareholder approval to limit the
benefits of EXCO’s waiver of the corporate opportunities doctrine solely
to Mr. Wilder, the remaining members of the Board will be obligated to
present corporate opportunities to EXCO to the extent required by Texas
law.
EXCO’s Board recommends that shareholders vote “FOR” the proposals to be
acted upon at the special meeting. Shareholders are encouraged to read
the definitive proxy materials in their entirety as they provide a
detailed discussion of the proposals.
Shareholders who have questions about the special meeting, or who need
assistance in submitting their proxies or voting their shares, should
contact EXCO’s proxy solicitor, D.F. King & Co., Inc., toll-free at
(866) 745-0270.
About EXCO
EXCO Resources, Inc. is an oil and natural gas exploration,
exploitation, development and production company headquartered in
Dallas, Texas with principal operations in Texas, North Louisiana and
Appalachia.
Additional information about EXCO Resources, Inc. may be obtained by
contacting Chris Peracchi, EXCO’s Vice President of Finance and Investor
Relations, and Treasurer, at EXCO’s headquarters, 12377 Merit Drive,
Suite 1700, Dallas, TX 75251, telephone number (214) 368-2084, or by
visiting EXCO’s website at www.excoresources.com.
EXCO’s SEC filings and press releases can be found under the Investor
Relations tab.
Forward-Looking Statements
This release may contain forward-looking statements relating to future
financial results, business expectations and business transactions.
Actual results may differ materially from those predicted as a result of
factors over which EXCO has no control. Such factors include, but are
not limited to: continued volatility in the oil and gas markets, the
estimates of reserves, commodity price changes, regulatory changes and
general economic conditions. These risk factors are included in EXCO’s
reports on file with the SEC. Except as required by applicable law, EXCO
undertakes no obligation to publicly update or revise any
forward-looking statements.
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