-- Endeavour Stockholders Vote in Favor of ALL Proposals
HOUSTON, May 22, 2014 /PRNewswire/ -- Endeavour International Corporation (NYSE: END) (LSE: ENDV) today announced that, based on the preliminary vote count of its proxy solicitor, Morrow & Co., Endeavour's stockholders have elected all of the Board of Director's director nominees – John B. Connally III, James H. Browning and William D. Lancaster – at the Company's 2014 Annual Meeting of Stockholders.
Endeavour issued the following statement:
On behalf of Endeavour's entire Board and management team, we wish to thank our stockholders for their support throughout this process. We appreciate the feedback we have received from our stockholders, and we recognize that there is still work to be done to strengthen our balance sheet, improve execution and leverage our asset base to drive profitable growth. We look forward to benefitting from the significant experience and fresh perspectives of our new Board members James H. Browning and William D. Lancaster, as we continue to execute our strategic plan. The outcome of today's election affirms our belief that Endeavour has the right strategy and leadership team in place to achieve our objectives and deliver value for all stockholders.
The preliminary vote count also indicated that stockholders have voted in favor of all other proposals on the ballot, including the ratification of Ernst & Young LLP as Endeavour's auditors, adoption of the Company's 2014 Stock Incentive Plan, and the advisory vote on executive compensation.
IVS Associates, Inc., the independent inspector of elections, is tabulating the votes cast at the Annual Meeting. The Company will announce final results once IVS has certified as to its final tabulation report.
About Endeavour International Corporation
Endeavour International Corporation is an international oil and gas exploration and production company focused on the acquisition, exploration and development of energy reserves in the North Sea and United States. For more information, visit www.endeavourcorp.com.
This press release contains certain "forward-looking statements," as such term is defined in Section 21E of the Securities Exchange Act of 1934, as amended, relating to future events and the financial performance of Endeavour. Such statements are only predictions and involve risks and uncertainties, resulting in the possibility that the actual events or performance will differ materially from such predictions as a result of certain risk factors. As such, readers are cautioned not to place undue reliance on forward-looking statements, which speak only as to management's plans, assumptions and expectations as of the date hereof. Please refer to Endeavour's Annual Report on Form 10-K for the year ended December 31, 2013 filed with the SEC on March 17, 2014, Form 10-K/A filed on March 21, 2014 and other filings for a discussion of material risk factors. Endeavour disclaims any duty to update or alter any forward-looking statements, except as required by applicable law.
SOURCE Endeavour International Corporation