Peacock's iNetPartners Stock Dividend Issuance Now in Process
14 July 2000
Company Requests All Entitled ``OBO'' Shareholders to Notify Their Brokerage
SAN JACINTO, CALIF. - Peacock Financial Corporation, today reported that they have begun mailing certificates to entitled Peacock shareholders pertaining to the previously announced iNetPartners, Inc. stock dividend. Shareholders deemed eligible are holders of record June 30, 2000.There are three classifications of shareholders:
1) Shares held in physical certificate form by shareholder.
2) Street name (shares held with brokerage firm) in Non-Objecting
(NOBO) status.
3) Street name (shares held with brokerage firm)
in Objecting (OBO) status.
Shareholders under No. 1 and No. 2 are known to the Company, and to the Company's transfer agent, and need to do nothing. These individuals' dividend certificates are in process and will be mailed to their address of record, along with a letter from the Company.
Shareholders under No. 3, classified as "Objecting" or OBO status, an account category usually checked off when a client opens a new brokerage account that indicates they object to having the brokerage firm release their name and address to outside sources, need to take the following action: Contact your brokerage and request that a certified statement be issued to the Company, declaring the exact number of shares of Peacock Financial Corp. held on June 30, 2000, including any purchases on June 30, 2000, that would have settled by July 6, 2000. This will insure the dividend gets paid to you.
As a reminder, in that iNetPartners, Inc. is not public as of yet and the shares being distributed are not yet registered, they are not "DTC" or electronically transferable, thus the necessity for this procedure.
Steve Peacock, president and CEO of Peacock Financial Corp., stated, "Mailing of the iNetPartners certificates began this week, with our transfer agent reporting a record shareholder base of nearly 6,000 shareholders. We are extremely delighted to learn that there are so many individual investors in the Company, but also ask for patience while this stock distribution gets completed. The OBO (objecting) shareholder accounts should make contact with their broker immediately, so as to insure their receiving this iNetPartners dividend, due to a possible oversubscription."
Due to this possibility, the Company's position will be to issue up to the allotted number of shares, based on the prescribed 1:100 ratio, on a first come basis, with no obligation for the Company to provide additional shares due to an oversubscription.
iNetPartners, Inc. is currently a privately held corporation, but intends to be brought public in the near future.
Peacock Financial Corporation owns 51% of iNetPartners. iNetPartners, Inc. was established in 1999 to build Internet-enabled B-to-B and C-to-B applications in automotive commerce. iNetPartners successfully launched its first Internet application, iNet4Cars.com, on May l, 2000. iNet4Cars.com has announced that they are accelerating plans to expand nationally, to nine additional, major U.S. markets.