SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date or Report (Date of earliest event reported)
September 24, 1998
EEX CORPORATION
(Exact name of Registrant as specified in its charter)
Texas 1-12905 75-2421863
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
2500 CityWest Boulevard, Suite 1400, Houston, Texas 77042
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including Area Code (713)243-3100
ITEM 5. Other Events
Set forth below in its entirety is a News Release issued by
EEX Corporation on September 24, 1998:
EEX SHAREHOLDERS TO VOTE ON ONE-FOR-THREE REVERSE SPLIT
HOUSTON, TEXAS (September 24, 1998) -- The Board of
Directors of EEX Corporation (NYSE: EEX) has scheduled a
special meeting of shareholders for December 8, 1998 to vote
on a one-for-three reverse split of the Company's issued and
outstanding common stock. EEX presently has approximately
127 million shares outstanding.
"Following the reverse split, our stock price,
currently in the $5.00 range, and shares outstanding will be
more aligned with our peers in the independent exploration
and production sector. The effect of the reverse split
should make our common shares more attractively priced to
the financial community," said Tom Hamilton, Chairman and
President, Chief Executive Officer. "Not only will a
reverse split lower trading costs for the investing public,
it will reduce administrative costs for the Company,"
Hamilton added.
The record date for determining holders of EEX common
shares entitled to vote at the special meeting will be
October 19, 1998. Under the proposed reverse split,
shareholders will receive cash in lieu of any fractional
shares.
EEX Corporation is an oil and natural gas exploration
and production company with activities currently focused in
Texas, the Gulf of Mexico and Indonesia.
This report includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934.
Although EEX believes that its expectations are based on
reasonable assumptions, it can give no assurance that its
goals will be achieved. Important factors that could cause
actual results to differ materially from those in the
forward-looking statements include political developments in
foreign countries, federal and state regulatory
developments, the timing and extent of changes in commodity
prices, the timing and extent of success in discovering,
developing and producing or acquiring oil and gas reserves,
and conditions of the capital and equity markets during the
periods covered by the forward-looking statements. EEX's
periodic reports filed with the Securities and Exchange
Commission include a discussion of important factors that
could cause actual results to differ materially from those
indicated in forward-looking statements.
For additional information, call 1-888-EEX-NEWS, or
visit our Website at http://www.eex.com
SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned thereunto duly
authorized.
EEX Corporation
By: /s/ T. E. Coats
-------------------
T. E. Coats
Vice President and
Controller
Date: September 29, 1998