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:6/26/2016)... (PRWEB) , ... June 26, 2016 , ... On June ... sponsor of the 2016 Cereal Festival and World’s Longest Breakfast Table in Battle Creek, ... of the city’s history as home to some of the world’s leading providers of ...
(Date:6/25/2016)... ... 25, 2016 , ... Experts from the American Institutes for ... Meeting June 26-28, 2016, at the Hynes Convention Center in Boston. , AIR ... care planning, healthcare costs and patient and family engagement. , AIR researchers will ...
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern Californian, Dr. ... his M.D from the David Geffen School of Medicine at UCLA. He trained in ... to complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he ...
(Date:6/24/2016)... ... 2016 , ... Those who have experienced traumatic events may suffer from a ... such as drug or alcohol abuse, as a coping mechanism. To avoid this pain ... following a traumatic event. , Trauma sufferers tend to feel a range of emotions, ...
(Date:6/24/2016)... ... June 24, 2016 , ... Dr. Amanda Cheng, an ... Cheng has extensive experience with all areas of orthodontics, including robotic Suresmile technology, ... , Micro-osteoperforation is a revolutionary adjunct to orthodontic treatment. It can be ...
Breaking Medicine News(10 mins):
(Date:6/26/2016)... , June 27, 2016  VMS Rehab Systems, Inc. ... will take whatever measures required to build a strong ... which is currently listed on the OTC Markets-pink current ... Chairman and CEO, "We are seeing an anomaly in ... understand, not only by the Company, but shareholders and ...
(Date:6/24/2016)... 24, 2016   Bay Area Lyme Foundation ... Dean Center for Tick Borne Illness , Harvard ... MIT Hacking Medicine, University of California, Berkeley, and ... the five finalists of Lyme Innovation , ... than 100 scientists, clinicians, researchers, entrepreneurs, and investors ...
(Date:6/24/2016)... and SAN CLEMENTE, Calif. , June 24, 2016 ... mobile pulmonary function testing company, is now able to perform sophisticated ... by ndd Medical Technologies , Inc. Patients ... hospital-based labs.  Thanks to ndd,s EasyOne PRO ® , ARL patients ... get any needed testing done in the comfort of her own ...
Breaking Medicine Technology: