ACGY Acergy S.A. - Ads Representing One Common Share (MM)

NEW YORK, Feb. 17 /PRNewswire/ -- Robotti & Company, LLC ("Robotti") sent a letter to the Board of Directors of Acergy S.A. ("Acergy") (NASDAQ:ACGY) (Oslo: ACY) on February 16, 2009 relating to Acergy. While Robotti praised Acergy's 2008 accomplishments and execution, Robotti detailed multiple corporate governance concerns, including recent stock and option compensation plans proposed by Acergy, past unauthorized stock option issuances, and valuation and other issues relating to the failed merger with Subsea 7 Inc. (Oslo: SUB). In addition, Robotti urged Acergy to take action so that it could opportunistically repurchase its own securities and adopt minimum shareholding requirements by the Board given the Board's current lack of stock ownership. A copy of the letter can be accessed at the following address: http://robottico.homestead.com/files/ACERGY/Acergy_Letter_-_February_16_20 09.pdf About Robotti & Company, LLC Robotti & Company Incorporated is the parent company and predecessor to Robotti & Company, LLC a broker dealer that specializes in undervalued securities identified by our proprietary research. Through our registered adviser affiliate, Robotti & Company Advisors, LLC we offer personalized investment management targeted to the individual client's long-term equity investment needs. Robotti & Company has been in the securities business since 1983. Contact information Meaghan Pratt 212-986-4800 Robotti & Company, LLC 110 East 42nd Street Suite 1100 New York, New York 10017 http://www.robotti.com/ DATASOURCE: Robotti & Company, LLC CONTACT: Meaghan Pratt of Robotti & Company, LLC, +1-212-986-4800 Web Site: http://www.robotti.com/

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