BROOKINGS, S.D., Dec. 8 /PRNewswire-FirstCall/ -- VeraSun Energy Corporation , the nation's second-largest ethanol producer, today announced that Donald L. Endres, chairman and chief executive officer, established a pre-arranged trading plan to sell a portion of his company stock over a designated period of time in accordance with Rule 10b5-1 of the Securities and Exchange Commission. The plan allows for the sale of up to 15 percent of Endres' holdings over the two-year period beginning January 17, 2007, at a minimum per-share price that is above the current stock price.
"This plan allows me to complete some family estate planning and to diversify a portion of my investment," said Endres, who would continue to hold a large interest in the company even if the sales were completed. "I remain very positive about the long-term prospects for this business."
Rule 10b5-1 permits insiders to implement a written plan to sell stock when they are not in possession of material non-public information and continue to sell shares on a regular basis even if they receive such information subsequently. Such plans establish predetermined trading parameters that do not permit the person adopting the plan to exercise any subsequent influence over how, when or whether to effect trades. Using these plans, insiders can gradually diversify their investment portfolios, spread stock trades out over an extended period of time to reduce market impact, and avoid concerns about transactions occurring at a time when they might possess inside information.
About VeraSun Energy Corporation
VeraSun Energy Corporation is the second-largest ethanol producer in the U.S. based on production. The company has two operating production facilities located in Aurora, S.D., and Fort Dodge, Ia., and is constructing facilities in Charles City and Hartley, Ia., and Welcome, Minn. Upon completion of the new facilities, VeraSun will have production capacity of approximately 560 million gallons of ethanol per year.
The company markets VeraSun E85, a blend of 85 percent ethanol and 15 percent gasoline for Flexible Fuel Vehicles (FFVs), directly to fuel retailers under the brand VE85(TM). VeraSun's branded E85 is now available at more than 80 retail locations. For more information, please visit the VeraSun websites at http://www.verasun.com/ or http://www.ve85.com/ .
