Horizon Offshore Announces New Trading Symbol
Horizon Offshore, Inc. announced the effectiveness of its previously announced one-for-twenty-five (1-for-25) reverse stock split. Shares will begin trading on a split-adjusted basis with the opening of the Over-the-Counter Bulletin Board (OTCBB) market on April 13, 2006. Horizon's new common stock trading symbol is HRZO.OB, replacing its former symbol, HOFF.OB, used for the pre-split common shares. Horizon stockholders will receive instructions from its transfer agent, Mellon Investor Services LLC, about the procedure for exchanging shares of pre-split common stock into shares of post-split common stock.
Horizon will not issue any fractional shares of its new common stock as a result of the reverse stock split. Instead, any fractional shares will be rounded up to the next highest whole number of shares. Further details of the Company's reverse stock split are discussed in the Company's definitive information statement filed with the Securities and Exchange Commission on March 21, 2006.
About Horizon Offshore, Inc.
Horizon and its subsidiaries provide marine construction
services for the offshore oil and gas and other energy related
industries. The Company's fleet is used to perform a wide
range of marine construction activities, including installation
and repair of marine pipelines to transport oil and gas
and other sub sea production systems, and the installation
and abandonment of production platforms.
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