Cap Rock Energy Corporation Announces David W. Pruitt's Rule 10b5-1 Trading Plan
April 15 2004 - 7:20PM
PR Newswire (US)
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
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