NEW YORK, June 30 /PRNewswire-FirstCall/ -- Six Flags, Inc. announced today that one of its directors, Dwight C. Schar, has sold two million shares of common stock of the Company over the last week.
Mr. Schar stated, "I very much believe in the Company, the management team and the extraordinary progress they are making in the turnaround. I think Six Flags is well-positioned for the upcoming summer season. I still have a considerable holding in the Company and the recent dispositions simply reflect my personal tax planning strategy."
Under the Company's Insider Trading Policy, Mr. Schar is prohibited as of the close of business today from buying or selling Company shares until three days after the Company issues its second quarter earnings release. Mr. Schar filed a Form 144 with the Securities and Exchange Commission on June 26, 2008, June 27, 2008 and June 30, 2008. Mr. Schar filed a Form 4 today with the Securities and Exchange Commission.
Forward Looking Statements:
Statements in this press release that are not reported financial results or other historical information are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. They include, for example, statements about the terms of the exchange offer and the timeframe for its completion. Forward-looking statements may be identified by the use of forward-looking terminology such as the words "expect," "plans," "intend," "may," "will," and other terms with similar meaning indicating possible future events or potential impact on the business or other stakeholders of Six Flags and its subsidiaries. The reader is cautioned not to place undue reliance on these forward-looking statements, which are not guarantees of future performance. These statements are based on management's current assumptions, beliefs and expectations, all of which involve a number of business risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, but are not limited to, the condition of the U.S. credit markets generally and worsening industry conditions. Additional factors are detailed from time to time in Six Flags' filings with the Securities and Exchange Commission (SEC), including those factors contained in Six Flags' Annual Report on Form 10-K for the year ended December 31, 2007 under the caption "Risk Factors." All forward-looking statements in this news release are expressly qualified by information contained in Six Flags' filings with the SEC. Six Flags disclaims any obligation to update or revise any forward-looking information.
Media Contact: Sandra Daniels - (212) 652-9360
Investor Relations: William Schmitt - (203) 682-8200
