RCAU - Rocket City (RCAU) Announces Issuance of Stock Dividend
Apr 13, 2007 11:16:00 AM
Copyright Business Wire 2007
ORLANDO, Fla.--(BUSINESS WIRE)--
Rocket City Automotive Group (Pink Sheets:RCAU), board of directors announced today that RCAU will be paying a ten percent (10%) stock dividend on Monday, May 28, 2007 to all shareholders of record on April 20, 2007. All fractional shares will be rounded up upon the issuance of the dividend. The distribution of additional shares will be made through the transfer agent of Rocket City Automotive Group.
Jeff Roman, CEO of Rocket City Automotive Group (RCAU) offered the following comments:
"It is our belief that the payment of a stock dividend, at the present time, will improve liquidity and trading volume of the RCAU stock as our Company's unexpected growth continues to accelerate. We further believe that as our company's performance becomes more predictable and certain it will create additional shareholder value.
"This action should not be construed as setting a precedent for future stock dividends nor should it be construed as a one time action."
About CompleteAuto:
CompleteAuto offers proprietary software, personnel and design solutions to hundreds of automotive dealerships around the country. CompleteAuto is a wholly owned subsidiary of Rocket City Automotive Group, Inc. (Pink Sheets:RCAU) which was formed to acquire, manage supervise and operate corporations specializing in auction services, eCommerce, software development and retail automotive operations.
CompleteAuto and RocketCity believe there are enormous growth opportunities in the $1 trillion automotive retailing industry. The experienced management team will continue to execute strategic initiatives to maximize operations in this marketplace with their products and services. Visit them on the web at www.rocketcityauto.com to learn more.
Learn more about Complete Auto by visiting: www.completeauto.com
Disclaimer:
Cautionary Statement about Forward-Looking Statements
This press release contains "forward-looking statements," which are statements related to future, not past, events. In this context, the forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks" or "will." Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things: (a) general economic and business conditions, (b) the level of strategic partner incentives, (c) the future regulatory environment, (d) our cost of financing, (e) our ability to complete acquisitions and dispositions and the risks associated therewith, and (f) our ability to retain key personnel. These factors, as well as additional factors, could affect our forward-looking statements. We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook.
Source: Rocket City Automotive Group, Inc.
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Rocket City Automotive Group/CompleteAuto
Orlando
Investor Relations
Charlie Garcia
305-373-7555
invest@rocketcityauto
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