Navigation Links
Rural/Metro Issues Reminder to Stockholders on Transactions That May Impact IRS Section 382 Outcome
Date:7/8/2008

SCOTTSDALE, Ariz., July 8 /PRNewswire-FirstCall/ -- Rural/Metro Corporation (Nasdaq: RURL) issued another reminder today for current and potential holders of 5% or more of the Company's common stock in relation to its ongoing analysis of the impact of change-in-ownership rules under Section 382 of the U.S. Internal Revenue Code ("Section 382").

In general, Section 382 limits the use of a corporation's net operating losses and certain other tax benefits following a change in ownership of the corporation. Section 382 rules governing when a change in ownership occurs are complex and subject to interpretation; however, a change in ownership generally occurs when there has been a cumulative change in the stock ownership of the corporation held by 5% stockholders of more than 50 percentage points over an applicable three-year period.

To the extent the Company has not experienced a change in ownership, subsequent changes in the stock ownership of the Company could result in a change in ownership that would trigger the limitations of Section 382. If the Company were to experience a change in ownership under Section 382, the Company may be limited in its ability to fully utilize its net operating loss tax assets to offset future taxable income.

The Company recognizes that investment decisions are within the discretion of each investor; however, along with the other risk factors set forth in the Company's most recent Form 10-K and other public filings, the Company advises investors to consider the potential negative impact of Section 382 on the Company that can arise from any of the following trading transactions (either alone or in combination):

-- Any transfer of common stock by a 5% stockholder.

-- Any transfer of common stock to the extent that, as a result of the transfer (or any series of transfers of which such transfer is part), the percentage stock ownership of any person or group of persons that is not a 5% stockholder would exceed 4.9%.

For these purposes, a 5% stockholder is generally any person or group of persons that at any time during an applicable three-year period has owned 5% or more of the outstanding common stock of Rural/Metro Corporation. Under Section 382, stock ownership would be determined under complex attribution rules pursuant to the Tax Code and generally includes shares held directly, indirectly (through intervening entities) and constructively (by certain related parties and certain unrelated parties acting as a group).

About Rural/Metro

Rural/Metro Corporation provides emergency and non-emergency ambulance services and private fire protection services in 23 states and approximately 400 communities throughout the United States. For more information, visit the company's web site at http://www.ruralmetro.com.

SAFE HARBOR PROVISIONS FOR FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the Company's ability to accurately assess transactions in the Company's stock by its significant stockholders and the accuracy of the Company's assumptions surrounding its Section 382 analysis. Although Rural/Metro believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct.

Reference is made to a more complete discussion of forward-looking statements and applicable risks that may cause actual results to differ materially from those contemplated by such forward-looking statements ("Cautionary Statements") that include, among others, those identified under the captions "Forward-Looking Statements" and "Risk Factors" in the Company's annual report on Form 10-K for the fiscal year ended June 30, 2007, which is available free of charge on the website of the Securities and Exchange Commission (the "SEC") at http://www.sec.gov or on the Company's website at http://www.ruralmetro.com. All subsequent written and oral forward-looking statements (or statements that may be attributed to the Company) are expressly qualified by the Cautionary Statements. The Company's forward-looking statements are based on information available today, and it undertakes no obligation to update these statements, whether as a result of new information, future events or otherwise, except as required by the securities laws.
(RURL/F)

CONTACT: Liz Merritt, Rural/Metro Corporation

(480) 606-3337

Sharrifah Al-Salem, FD Ashton Partners

(415) 293-4414


'/>"/>
SOURCE Rural/Metro Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Rural/Metro Announces Results for Fiscal 2008 Second Quarter
2. Rural/Metro to Host Conference Call to Discuss Fiscal 2008 Second Quarter Results
3. Rural/Metro Announces Results for Fiscal 2008 First Quarter; Fiscal 2007 Fourth Quarter and Full Year
4. Rural/Metro to Host Conference Call to Discuss Results for First Quarter Fiscal 2008 and Fourth Quarter/Fiscal 2007 Year-End
5. Rural/Metro Enters Into Amendment and Waiver to Its Senior Credit Facility; Provides Restatement Details
6. Rural/Metro Board of Directors Meets With Accipiter Capital Management
7. Political borders, health-care issues complicate pandemic planning
8. Anthem Blue Cross and Blue Shield Issues Community Report for 2007
9. National Council on Disability to Hold Quarterly Board Meeting in Seattle to Learn Issues Affecting People with Disabilities in Pacific Northwest
10. Robbins & Myers Issues Corrected Conference Call Information
11. SectorWatch.biz Issues MarketStats on Medical Products and Device Companies INCC, CMED, WX, MR and AOB
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... City, Oklahoma (PRWEB) , ... June 25, 2016 ... ... helping both athletes and non-athletes recover from injury. Recently, he has implemented orthobiologic ... the Oklahoma City area —Johnson is one of the first doctors to perform ...
(Date:6/24/2016)... ... ... Those who have experienced traumatic events may suffer from a complex set of ... or alcohol abuse, as a coping mechanism. To avoid this pain and suffering, Serenity ... event. , Trauma sufferers tend to feel a range of emotions, from depression, guilt, ...
(Date:6/24/2016)... ... June 24, 2016 , ... Global law firm Greenberg Traurig, P.A. announced that ... chosen by their peers for this recognition are considered among the top 2 percent ... special honors as members of this year’s Legal Elite Hall of Fame: Miami ...
(Date:6/24/2016)... ... June 24, 2016 , ... People across the U.S. ... magazine’s Code Talker Award, an essay contest in which patients and their families pay ... be presented at the 2016 National Society of Genetic Counselors (NSGC) Annual Education Conference ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... the Frederick area economy by obtaining investment capital for emerging technology companies. ... years that have already resulted in more than a million dollars of capital ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... DUBLIN , June 24, 2016 ... addition of the "Structural Electronics 2015-2025: Applications, ... In-Mold Electronics, Smart ... Integrated Photovoltaics Structural electronics involves ... as load-bearing, protective structures, replacing dumb structures such ...
(Date:6/24/2016)... DUBLIN , June 24, 2016 ... "The World Market for Companion Diagnostic Tests" report to ... World Market for Companion Diagnostics The World ... diagnostic and personalized medicine diagnostics. Market analysis in the report ... Diagnostics Test Market (In Vitro Diagnostic Kits) by Region (N. ...
(Date:6/24/2016)... June 24, 2016  Arkis BioSciences, a leading ... and more durable cerebrospinal fluid treatments, today announced ... Series-A funding is led by Innova Memphis, followed ... other private investors.  Arkis, new financing will accelerate ... the market release of its in-licensed Endexo® technology. ...
Breaking Medicine Technology: