DALLAS–(BUSINESS WIRE)–EXCO Resources, Inc. (NYSE:XCO) (“EXCO”) today announced that its 2015 Annual Meeting of Shareholders (the “Annual Meeting”) will reconvene at 4:45 p.m., central time, on August 18, 2015, at the corporate office of EXCO, 12377 Merit Drive, First Floor Conference Center, Dallas, Texas.
EXCO’s Board of Directors (the “Board”) continues to recommend that all EXCO shareholders approve each proposal presented at the Annual Meeting, and the Board remains committed to the transactions contemplated by the services and investment agreement entered into with a subsidiary of Bluescape Resources Company LLC. EXCO shareholders of record at the close of business on June 8, 2015 are entitled to vote at the Annual Meeting.
In the event Proposal 4 regarding an amendment to EXCO’s Restated Articles of Incorporation to include a waiver of the duty of directors to present corporate opportunities to EXCO is approved at the Annual Meeting, EXCO intends to promptly file the amendment with the Texas Secretary of State to effect the waiver. EXCO has entered into an agreement with an institutional holder whereby EXCO intends to limit the waiver in connection with Proposal 4 solely for the benefit of Mr. C. John Wilder. EXCO will submit a proposal to approve such additional amendment to its Restated Articles at its next annual or special meeting of shareholders.
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.
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: the continued listing of EXCO’s common shares on the NYSE, the trading price of EXCO’s common shares on the NYSE, 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.