Wednesday June 16, 9:01 am Eastern Time
Company Press Release
Peacock Financial Sets July 1 as Payable Date for San Diego Soccer
Development Corp. Dividend
SAN JACINTO, Calif.--(BUSINESS WIRE)--June 16, 1999--Peacock Financial Corp. (OTC BB:PFCK - news) Wednesday announced that it has established July 1, 1999, as the payable date for distribution of shares of the San Diego Soccer Development Corp. (SDSDC).
Shareholders of record on April 23, 1999, will be issued one common share of SDSDC for each 100 shares of Peacock Financial common shares owned.
Later in July, Peacock Financial plans to take the SDSDC corporation public through Peacock's ''spin off'' process, with an SB1 filing with the Securities and Exchange Commission. The IPO is anticipated to net SDSDC $8.5 million, with use of proceeds allocating a minimum of $1 million for merchandising the A-League Team products. Participating brokerages are being identified, with the lead underwriter expected to be announced shortly.
Yan Skwara, president of the SDSDC, which owns the Flash professional soccer franchise, stated: ''We are grateful to Peacock Financial in assisting SDSDC in its objective of going public.
''We look forward shortly to becoming the first publicly owned soccer sports team in America, and only the fifth publicly traded professional sports franchise, the others being the Cleveland Indians (Nasdaq:CLEV - news), the Boston Celtics (NYSE:BOS - news), the Orlando Predators (Nasdaq:PRED - news) and the Florida Panthers (NYSE:PAW - news).''
According to Peacock Financial President Steven R. Peacock: ''The game of soccer in this country is just beginning to take hold as a serious sport and will explode in popularity with the youth of our country. The growth of soccer, as a sport and as a business, is going to reward those who are positioned early. We are highly confident in the ability of Yan Skwara and his talented management team, and we believe the future of soccer will be a huge opportunity for investors.''
Peacock Financial is a fully reporting investment holding company registered with the SEC as a Business Development Company under the Investment Act of 1940. Current holdings include investments in real estate and in investment banking, specializing in professional sports and the Internet.
Note to Editors: Management available for interviews.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein that are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products; delays in testing and evaluation of products; and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.
Contact:
Peacock Financial Corp., San Jacinto
Steven Peacock, 909/487-8911
or
The Flash, San Diego
Yan Skwara, 619/581-2120
or
Stock Enterprises, Las Vegas
James Stock, 702/614-0003 (investor relations) |
