RESTON, Va., Jan. 23 /PRNewswire-FirstCall/ -- PRA International , a leading clinical research organization, today affirmed that its officers have pre-established trading plans in place for selling company shares in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. Rule 10b5-1 allows a person to buy and sell securities under a prescribed plan established when the person is not in possession of material nonpublic information.
Officers covered under 10b5-1 plans include Pat Donnelly, David Dockhorn, Monika Pietrek, Jim Powers, Bruce Teplitzky, Matt Bond and Bucky Walsh. The plans are subject to certain criteria, such as share amounts, prices and dates of future trades.
Since the adoption of these plans in late October and early November 2005, management generally expects not to trade outside of the plans, although management may do so under certain circumstances in accordance with our established insider trading policy. From November 2005 to date, management sales of our common stock have occurred pursuant to these pre-established 10b5-1 trading plans, other than a sale on December 13, 2005 that occurred in compliance with the preclearance requirements of our trading policy, in which Matt Bond sold 10,000 shares of common stock, which represented approximately 17% of his total equity ownership including exercisable options, in connection with the purchase of a new home. Management also expects under certain circumstances to purchase shares outside of the plans by exercising stock options from time to time, such as the option exercise on October 20, 2005 in which Pat Donnelly purchased 56,736 shares of common stock.
About PRA International
PRA International is one of the world’s leading clinical development organizations, with over 2,400 employees working from offices in North America, Europe, South America, Africa, Australia and Asia. PRA, an ISO 9001:2000 registered company, delivers services to its clients through a unique approach called Project Assurance(R), which represents the company’s commitment to reliable service delivery, program-level therapeutic expertise, global access to knowledge, and involved senior management.
To learn more about PRA International, please visit http://www.prainternational.com.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements that are subject to risks and uncertainties relating to PRA International’s future financial and business performance, as well as any other predictive statements dependent upon future events or conditions, or that include words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “may,” “will,” “estimate” or similar expressions of futurity. You should not place undue reliance on any forward-looking statements, which represent the Company’s statements only as of the date of this news release and are not intended to give any assurance as to actual future events. Factors that might cause future events to differ include: changes in our policies applicable to our employees’ trading in our securities; changes in management’s intentions with respect to purchases or sales of our securities; amendments to or terminations of pre-established trading plans; personal financial circumstances of management; and decisions by members of management to exercise piggyback registration rights in the event that the company files a registration statement. Events relating to PRA International and the trading plans of its officers (including purchases or sales outside of such plans) could differ materially from those anticipated in these forward-looking statements. Although these statements are based upon assumptions the Company believes to be reasonable based upon available information, they are subject to the foregoing risks and uncertainties as well as those described more fully in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our annual report on Form 10-K. This document can be accessed in the SEC’s EDGAR database found at http://www.sec.gov. Please note that PRA International assumes no obligation to update any of the forward-looking statements in this release, except as required by applicable securities laws.
PRA International
CONTACT: Matt Bond, Senior Vice President and CFO of PRA International,+1-703-464-6300; or Kathy Waller, Analyst Contact of Financial RelationsBoard, +1-312-640-6696
Web site: http://www.prainternational.com/
