HOUSTON, May 16, 2014 /PRNewswire/ -- Endeavour
International Corporation (NYSE: END) (LSE: ENDV) today announced
that Institutional Shareholder Services ("ISS"), the nation's
leading proxy advisory firm, has recommended that Endeavour
stockholders vote "FOR" all three of Endeavour's
highly-qualified and experienced director nominees on the
WHITE proxy card at the Company's 2014 Annual Meeting of
Stockholders to be held on May 22,
2014.
In its May 15, 2014 report, ISS
stated1:
"Though the company's underperformance is concerning, the
dissident has not made a compelling case that further change to the
composition of the board is necessary at this time. As such,
shareholder support for the management slate of nominees is
warranted."
"Poor performance alone, after all, is not itself a compelling
case that change is needed on a board. In this case the board
appears to have taken a number of steps to address its
underperformance."
Commenting on the ISS report, Endeavour issued the following
statement:
We are pleased that ISS supports the election of ALL of
Endeavour's highly qualified and experienced director nominees and
concluded that no change to Endeavour's Board of Directors is
warranted.
ISS' recommendation reinforces our belief that Endeavour has the
right Board, the right strategy and right team in place to drive
growth and value creation for all stockholders in this challenging
phase for the Company. We strongly urge all Endeavour stockholders
to follow the recommendation of ISS and vote "FOR" our
director nominees on the WHITE proxy card today.
Endeavour stockholders are reminded that their vote is extremely
important, and that they have an opportunity to protect their
investment in Endeavour by voting FOR Endeavour's three
director nominees using the WHITE proxy card today.
If you have any questions or require any
assistance with voting your shares, or if you need additional
copies of the proxy materials, please contact:
MORROW & CO., LLC
470 West Avenue
Stamford, CT 06902
Stockholders May Call
Toll-Free: (855) 223-1287
Banks &
Brokers May Call Collect: (203) 658-9400
Email:
endeavourinfo@morrowco.com
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.
Forward-looking Statements
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.
Important Additional Information
Endeavour, its
directors, director nominees and certain of its executive officers
are participants in the solicitation of proxies from Endeavour's
stockholders in connection with Endeavour's 2014 Annual Meeting of
Stockholders. Endeavour has filed its definitive proxy
statement and form of WHITE proxy card with the U.S. Securities and
Exchange Commission (the "SEC") with respect to the 2014 Annual
Meeting of the Stockholders. ENDEAVOUR STOCKHOLDERS ARE
STRONGLY ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT
(INCLUDING ANY AMENDMENTS AND SUPPLEMENTS), THE ACCOMPANYING WHITE
PROXY CARD AND ALL OTHER MATERIALS FILED BY ENDEAVOUR WITH THE SEC
AS THEY CONTAIN IMPORTANT INFORMATION.
Information regarding the names of Endeavour's directors,
director nominees and executive officers and their respective
interests in Endeavour, by security holdings or otherwise, is set
forth in Endeavour's definitive proxy statement and other materials
filed with the SEC. Additional information can also be found
in Endeavour's Annual Report on Form 10-K for the year ended
December 31, 2013 filed with the SEC on March 17, 2014 and Form 10-K/A filed on
March 21, 2014.
These documents, including the definitive proxy statement (and
any amendments or supplements thereto) and other documents filed by
Endeavour with the SEC, are available for no charge at the SEC's
website at www.sec.gov and at Endeavour's investor relations
website at www.endeavourcorp.com/2014AnnualMeeting.htm.
Endeavour - Investor Relations, Darcey
Matthews, 713-307-8711
1 Permission to use quotations neither sought nor
obtained
SOURCE Endeavour International Corporation