Jon E. Nix

May 26, 2011 15:38 ET

Jon E. Nix

KNOXVILLE, TENNESSEE--(Marketwire - May 26, 2011) - Today, Jon E. Nix (7304 Sherwood Drive, Knoxville, Tennessee) converted 5,000,000 of his non-voting common shares of Xinergy Ltd. (TSX:XRG) ("Xinergy") to voting common shares of Xinergy.

Mr. Nix now holds, directly and indirectly, and exercises control or direction over additional shares, that total, in the aggregate, 8,252,563 voting common shares, representing approximately 19.2% of the issued and outstanding voting common shares of Xinergy. In addition, Mr. Nix holds, directly 14,467,541 non-voting common shares of Xinergy representing 100% of the issued and outstanding non-voting common shares and he holds, directly 1,668,560 options to purchase voting common shares exercisable at US$0.60 per share, 500,000 options to purchase voting common shares exercisable at US$3.62 per share and 300,000 options to purchase voting common shares exercisable at US$2.39 per share, which, if the non-voting shares are converted to voting common shares and the options are exercised for voting common shares, would represent approximately an aggregate total of approximately 42.0% of the then-issued and outstanding voting common shares of Xinergy.

Mr. Nix had no specific purpose for deciding to convert the non-voting common shares to voting common shares other than the fact that the non-voting common shares are convertible at this time. Mr. Nix may, depending on market and other conditions, on an individual or joint basis, increase or decrease its beneficial ownership of voting common shares of Xinergy, whether in the open market, by privately negotiated agreements, or otherwise.

Contact Information

  • Jon E. Nix
    (865) 474-7000