ENSCO ANNOUNCES SPECIAL MEETING OF STOCKHOLDERS
ENSCO ANNOUNCES SPECIAL MEETING OF STOCKHOLDERS DALLAS, Feb. 10 /PRNewswire/ -- Energy Service Company, Inc.
(AMEX: ESV) (ENSCO) announced today that a special meeting of stockholders is to be held on Tuesday, March 10, 1992. The purpose of the meeting is to consider and vote on a proposal to approve the previously announced acquisition by ENSCO Engineering Company of an aggregate 8.4 percent limited partnership interest in NGP No. I, L.P., a Delaware limited partnership. The special meeting of stockholders will be held at 9:00 a.m. at the Fairmont Hotel in Dallas. Stockholders of record as of Jan. 17, 1992 will be eligible to vote on the proposal.
NGP No. I, L.P. is the owner of 58.6 percent of the outstanding stock of Penrod Holding Corporation. The acquisition of an aggregate 8.4 percent limited partnership interest in NGP No. I, L.P., together with recently completed acquisitions of interests in certain trusts established by R.D. Smith & Co., holding interests in Penrod Holding Corporation and having The Summit Trust Company as their trustee, will increase ENSCO's beneficial interest in Penrod Holding Corporation to 36.3 percent. The interest in NGP No. I, L.P. will be acquired from Rainwater, Inc. and PMJ Investment Corp. for an aggregate 6,378,026 shares of ENSCO common stock. Rainwater, Inc. is owned by Richard E. Rainwater, who beneficially owns approximately 15.2 percent of ENSCO's outstanding common stock and is ENSCO's largest shareholder. Rainwater's beneficial ownership of ENSCO's outstanding common stock will increase to approximately 18.7 percent as a result of the transaction. ENSCO, headquartered in Dallas, is engaged in providing contract drilling and related services to the international petroleum industry. -0- 2/10/92 /CONTACT: G. Allen Brooks of ENSCO, 214-922-1500/ (ESV) CO: Energy Service Company, Inc. ST: Texas IN: OIL SU: SM -- NY084 -- 8469 02/10/92 16:44 EST
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|Date:||Feb 10, 1992|
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