Professional Transportation Group Ltd., Inc. (Nasdaq: TRUC, TRUCW) today announced that it was sending a notice dated May 8, 2000 to the holders of the warrants issued at the time of the Company’s initial public offering, indicating the Company’s official intention to redeem the warrants in accordance with their terms. With the mailing of the formal notice of the Company’s notice of call, warrant holders may either choose to: (1) exercise their warrants and obtain shares of the Company’s common stock by paying to the Company $3.00 per share within 30 days of the date of the notice (no later than 5:00 p.m., Eastern time, on Tuesday, June 6, 2000); or (2) sell their warrants in the open market in accordance with applicable securities laws and regulations within the same 30-day period. If the warrant holder chooses to do nothing, the Company will redeem the warrants in accordance with their terms for $0.125 per warrant.
Professional Transportation Group Ltd., Inc., is headquartered in Marietta, Georgia. The Company provides ground transportation and logistics services for the airfreight and trucking industry in the continental United States through its subsidiary, Timely Transportation, Inc. PTG’s 280 plus trucks employ some of the most current transportation communication technologies, such as the satellite-based vehicle positioning and enhanced mobile data systems and is a technological leader in the freight industry. The resulting efficiencies ensure PTG customers “Almost as Fast as Air” Service. A partial customer list also includes US Airways, Airborne Express, UPS, Emery Worldwide, Nippon Air Cargo, and Air Express International.
For more information contact: Dennis A. Bakal, Chief Executive Officer of Professional Transportation Group Ltd., Inc., 678-264-0400; or Scott Liolios of Liolios Group, Inc., 949-574-3860.
(TRUC is a client of Internet Stock Market Resources, Inc.)
This release contains statements which constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company’s financing plans; (ii) trends affecting the Company’s financial condition or results of operations; (iii) the Company’s growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend,” and similar expressions and variation thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors discussed herein and those factors discussed in detail in the Company’s filings with the Securities and Exchange Commission, including the “Risk Factors” section of the Company’s filings made pursuant to the Securities Exchange Act of 1934, as amended, including, but not limited to, the Company’s Registration Statement on Form S-3 (Registration Number 333-70985), as declared effective by the Securities and Exchange Commission on February 5, 1999.