Citadel Environmental Group Inc. Announces Change of Record Date for its Dividend Distribution.THOUSAND OAKS Thousand Oaks, residential city (1990 pop. 104,352), Ventura co., S Calif., in a farm area; inc. 1964. Avocados, citrus, vegetables, strawberries, and nursery products are grown. , Calif.--(BUSINESS WIRE)--June 23, 1998--Citadel Environmental Group Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CTEV CTEV Congenital Talipes Equino Varus ) Tuesday announced that the record date for its dividend-in-kind distribution to its common stock holders, which was announced in its May 22, 1998 news release, has been changed from July 1, 1998 to July 17, 1998. All other characteristics relating to the dividend remain the same as follows: The dividend will be in the form of one (1) share of a newly issued Performance Convertible Preferred Shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. (Preferred Shares) of Alliance Medical Corp. (Alliance) for each six (6) shares of Citadel common stock. The ex-dividend date Ex-dividend date The first day of trading when the buyer of a stock is no longer entitled to the most recently announced dividend payment ( i.e. the trade will settle the day after the record date, too late for the buyer to appear on the shareholder record and receive the dividend. will be after Alliance files its Registration Statement with the Securities and Exchange Commission and becomes effective. Prior to distribution to Citadel common shareholders, the Alliance Preferred Shares will be held temporarily, in escrow, with the transfer agent. The Performance Convertible Preferred shares will be registered in conjunction with the registration of Alliance's common stock and is expected to trade simultaneously with the Alliance's common stock. Citadel is a publicly traded holding company established to acquire controlling interests in progressively managed private businesses with opportunities of significant growth and market share.
CONTACT: Citadel Environmental Group Inc., Denver
Louis F. Coppage, 303/297-8686
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