Ensco International Incorporated announced today at a Special Meeting of Stockholders that an overwhelming majority of Ensco's outstanding shares were voted in favor of the previously announced plan to change the Company's corporate structure. The plan is designed to enhance Ensco's worldwide business operations.
Effective tomorrow, December 23, 2009, Ensco's parent company legal domicile will change from Delaware to the U.K., the new parent company name will be Ensco International plc, and Ensco's ordinary shares will begin trading as American Depository Shares on the New York Stock Exchange under the trading symbol "ESV", the current trading symbol for Ensco's common stock. In first quarter 2010, the Company will relocate several of our executive officers to a new global headquarters in London. Ensco will continue to conduct the same business operations.
Chairman, President and Chief Executive Officer Dan Rabun stated, "We greatly appreciate the overwhelming endorsement of our stockholders to pursue the benefits of our plan which we expect will result in enhanced management oversight of our worldwide fleet, greater access to more of our customers and potential tax efficiencies." Mr. Rabun added, "We expect a smooth transition and we will work vigorously to realize the anticipated benefits for our customers, employees and stockholders."
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