About ILX - News Releases
ILX Resorts Announces Dividend Reinvestment Plan
Phoenix, Arizona - March 5, 2003 - ILX Resorts Incorporated (AMEX:ILX) announced today that its board of directors has adopted a dividend reinvestment plan. ILX Resorts also announced that it has filed a registration statement with the Securities and Exchange Commission to register 300,000 shares of common stock that may be issued under the plan.
“The purpose of the dividend reinvestment plan is to provide shareholders with a simple, cost-effective, and convenient method of investing cash dividends paid on shares of the company's common stock in additional shares of common stock, “ said Joe Martori, Chairman and CEO of ILX Resorts. “We will be distributing information about the plan and enrollment forms to shareholders in the very near future.”
Shareholders may obtain a prospectus from Computershare Trust Company, Inc., the company's transfer agent and the agent for the dividend reinvestment plan. The plan is effective for dividends paid on the company's common stock beginning with the company's first cash dividend to be paid on April 10, 2003.
ILX Resorts acquires, develops, and operates premier timeshare resorts primarily in the western United States that provide its owners with extraordinary vacation experiences. ILX´s portfolio of world-class properties includes eight resorts in Arizona, one in Indiana, one in Colorado, one in San Carlos, Mexico and land in Puerto Peñasco ("Rocky Point"), Mexico and Sedona, Arizona, both of which are in the early planning stages. It also, through Premiere Vacation Club, has acquired, and continues to acquire, inventory at the Carriage House in Las Vegas and in addition has acquired inventory at the Scottsdale Camelback Resort in Scottsdale, Arizona. For more information, visit: www.ilxresorts.com.
For more information, contact Joseph P. Martori, Chairman or Margaret Eardley, Chief Financial Officer, at 602-957-2777.
This news release may include "forward-looking statements." Forward-looking statements are based on current expectations and assumptions and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and many of which are beyond the Company´s control. Actual results could differ materially from these forward-looking statements as a result of a number of factors, including but not limited to, economic conditions, the Company´s need for additional financing, intense competition in various aspects of its business, the risks of growth, its dependence on key personnel, and other risks detailed in ILX´s Securities and Exchange Commission reports. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements and no assurances can be given that such statements will be achieved. ILX Resorts Incorporated does not assume any duty to publicly update or revise the material contained herein.
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