Cap Rock Energy (AMEX:RKE)
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Cap Rock Energy Corporation Announces David W. Pruitt's Rule
10b5-1 Trading Plan
MIDLAND, Texas, April 15 /PRNewswire-FirstCall/ -- Cap Rock Energy today
announced that David W. Pruitt, Co-Chairman/President/CEO entered into a Rule
10b5-1 Trading Plan on April 13, 2004, relating to the sale of approximately
17,500 shares during the period commencing July 2, 2004, and ending December
31, 2004. Pursuant to the plan UBS Financial Services, Inc., an independent
brokerage firm, will sell the shares at various times and prices during the
period. The purpose of the sale is to pay the income taxes on restricted
shares vesting on July 1, 2004. Following this sale, Mr. Pruitt will continue
to hold 108,588 shares of Cap Rock Energy common stock.
SEC Rule 10b5-1 allows insiders to implement a written plan to sell stock when
they are not in possession of material non-public information and continue to
sell shares on a regular basis even if they later receive such information.
Cap Rock Energy provides electric distribution services to over 35,000 meters
in 28 counties in Texas. Its corporate office is located in Midland, Texas,
with service divisions in Stanton, Colorado City, Brady and Celeste, Texas.
The Company also provides management services to the Farmersville Municipal
Electric System. The Company's predecessor, Cap Rock Electric Cooperative,
Inc., was incorporated as an electric cooperative in the State of Texas in
1939. Cap Rock Energy Corporation is the first electric cooperative to convert
to a publicly held corporation and the first electric utility to become a
public company in over 60 years.
All statements, other than statements of historical fact included in this news
release are forward looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. Any such forward looking statements
involve risks and uncertainties and actual results, performance or achievements
of Cap Rock Energy may be different from those expressed or implied in the
forward looking statements.
DATASOURCE: Cap Rock Energy Corporation
CONTACT: Ronnie Lyon of Cap Rock Energy Corporation, +1-903-813-0377, or