it's out!! and i'm in
Thursday September 16, 8:31 am Eastern Time
Company Press Release
Peacock Financial Corporation's "Solutions Media" IPO in Process With Dividend Record Date Announcement Pending
Book Value of Peacock Could Increase 40(Cent)/Share
SAN JACINTO, Calif.--(BUSINESS WIRE)--Sept. 16, 1999-- Peacock Financial Corporation (OTC BB - PFCK) announced today that San Diego-based Solution Media, Inc. is moving closer to becoming a publicly traded corporation.
Peacock has confirmed with management of Solutions Media that an IPO (initial public offering) is in process, and based on the equity stake Peacock owns, Peacock's book value could increase by $ .40 per share.
Peacock Financial owns 800,000 shares, and 300,000 of these shares will be issued to existing Peacock shareholders on a 1:100 ratio. This will pattern the formula of Peacock's first dividend earlier this year, that of the San Diego Soccer Development Corp., owner of the San Diego FLASH professional soccer franchise. The record date for the Solutions Media stock distribution, which will be the second such dividend under Peacock's restructured business plan that began in late 1998, will be announced as soon as possible. By law, announcement of such a stock dividend will need a minimum of 20 days public notice.
Solutions Media is an Internet company currently developing its ''SpinRecords.Com'' unit. SpinRecords.Com is an online music E-commerce Website similar to MP3.Com (NASDAQ: MPPP - news) which recently went public. Recently, SpinRecords.Com has been in the news, announcing the signing of several new bands as well as the formation of a ''comprehensive strategic partnership'' with TuneTo.Com, an Internet radio company, to create a custom ''Spin Radio'' interface to stream music from the SpinRecords.Com artist using a high quality filtering technology.
Peacock Financial Corporation 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.
--------------------------------------------------------------------------------
Contact:
Company Contact:
Peacock Financial
Steven Peacock
Company Website: www.peacockfinancial.com
Related Websites: www.spinrecords.com,
www.solutionsmedia.com, www.sdflash.com.
or |
