Ensco plc Shareholders Elect Two New Directors, Pass Share Repurchase Authorization and Board Declassification
LONDON--(BUSINESS WIRE)-- At today's annual general meeting, shareholders elected two new directors to the board of directors of Ensco plc (NYS: ESV) and passed special resolutions authorizing $2 billion in share repurchases and declassifying the board. The new board members are Roxanne J. Decyk, former Executive Vice President of Global Government Relations for Royal Dutch Shell plc, and Mary Francis CBE, Senior Independent Director of Centrica plc and a former senior civil servant in the British Treasury and Prime Minister's Office.
"I am very pleased to have both Ms. Decyk and Mrs. Francis join our board," said Dan Rabun, Chairman, President and CEO of Ensco plc. "They each bring a wealth of international experience and a strong background in energy."
Ms. Decyk and Mrs. Francis replace two retiring board members: Thomas (Tad) Kelly, who has been a member of the Ensco board of directors since 1987; and Rita Rodriguez, who joined the board in 2003.
"Tad and Rita have both made immeasurable contributions to Ensco's success over the past years," said Mr. Rabun. "Their counsel and insight will be missed."
Ms. Decyk retired as Executive Vice President of Global Government Relations for Royal Dutch Shell plc, where she also held senior-level positions in Corporate Affairs, Human Resources and Corporate Strategy. Ms. Decyk serves as a Director of Alliant Techsystems Inc. and Petrofac Limited.
Mrs. Francis is a former senior civil servant in the British Treasury and the Prime Minister's office and also served as Director General of the Association of British Insurers. She is currently Senior Independent Director of Centrica plc, an integrated energy company, and a director of Swiss Re Group.
Shareholders passed a special resolution authorizing the company to repurchase up to $2 billion of the company's issued Class A ordinary shares. This authorization replaces a previous share purchase agreement that expired with the conversion last year of Ensco's American Depository Shares to Class A ordinary shares. Shareholders also passed a special resolution to eliminate staggered three-year term classes for board members. The term of all directors will now be one year.
Ensco plc (NYS: ESV) brings energy to the world as a global provider of offshore drilling services to the petroleum industry. For more than 25 years, the company has focused on operating safely and exceeding customer expectations. Ensco is ranked #1 for total customer satisfaction with top honors in 10 of 16 categories in the most recent annual survey by EnergyPoint Research. Operating the world's newest ultra-deepwater fleet and largest fleet of active premium jackups, Ensco has a major presence in the most strategic offshore basins across six continents. Ensco plc is an English limited company (England No. 7023598) with its registered office and corporate headquarters located at 6 Chesterfield Gardens, London W1J 5BQ. To learn more, visit our website at www.enscoplc.com.
Statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "could," "may," "might," "should," "will" and similar words and specifically include statements regarding expected financial performance, day rates and backlog; and general market, business and industry conditions, trends and outlook. Such statements are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including downtime and other risks associated with offshore rig operations; and possible cancellation or suspension of drilling contracts as a result of mechanical difficulties, performance or other reasons. In addition to the factors described above, you should also carefully read and consider "Item 1A. Risk Factors" in Part I and "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II of our most recent annual report on Form 10-K, which is available on the SEC's website atwww.sec.govor on the Investor Relations section of our website atwww.enscoplc.com. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward looking statements, except as required by law.
Sean O'Neill, 713-430-4607
Investor Relations and Communications
Nick Georgas, 713-430-4490
Manager - Investor Relations
Alice Brink, 713-430-4658
Manager - Communications
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