UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 or 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of _April, 2003
GRUPO IUSACELL, S.A. de C.V.
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(Translation of registrant's name into English)
Prol. Paseo de la Reforma 1236
Col. Santa Fe, Deleg. Cuajimalpa
05438, Mexico D.F.
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(Address of principal executive office)
Indicate by check mark whether the registrant files or will fill annual reports
under cover of Form 20-F or Form 40-F: Form 20-F __X__ Form 40-F ____
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g-3-2(b) under the Securities and Exchange Act of
1934. Yes __X__ No____
1
Documents Furnished By the Registrant
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1. Press Release of the Registrant dated April 22, 2003
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GRUPO IUSACELL, S.A. DE C.V.
Date: April 22, 2003 /s/ Russell A. Olson
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Name: Russell A. Olson
Title: Executive Vice President and Chief Financial
Officer
Iusacell Announces Annual Shareholders' Meeting Resolutions
MEXICO CITY--(BUSINESS WIRE)--April 22, 2003--Grupo Iusacell, S.A.
de C.V. (Iusacell or the Company) (BMV:CEL) (NYSE:CEL) announced the
resolutions approved at its Annual Meeting of Shareholders, which was
held yesterday at 12:00 p.m. CST at the Company's headquarters in
Mexico City, Mexico. The Shareholders approved all of the Board of
Directors' proposals and recommended slate of Directors.
Among other resolutions, the Shareholders approved the
implementation of a change in the ratio of common shares representing
one American Depositary Receipt (ADR) of 10 for 1. Such change will
set the number of common shares representing one ADR equal to 100.
This modification was proposed to satisfy one of the continued listing
standards of the New York Stock Exchange, which requires the 30-day
average trading price of securities to remain above US$1.00. The
Company will initiate all necessary steps to implement such change in
the ADR ratio immediately.
The Shareholders also elected new members of the Board of
Directors that is now comprised as follows:
Name Position
---- --------
Daniel C. Petri Chairman of the Board and Series A Director
Carlos Espinal Series A Director
Al Giammarino Series A Director
Lowell McAdam Series A Director
Javier Martinez del Campo Series A Director
Jose Luis Vergara Diez Series A Director
Tomas Isaksson Series A Director
Martin Enriquez Series V Director
Anthony Gilbert Series V Director
Alan Harper Series V Director
Ignacio Mas Series V Director
Ignacio Gomez Morin Series V Director
About Iusacell
Grupo Iusacell, S.A. de C.V. (Iusacell) (NYSE:CEL) (BMV:CEL) is a
wireless cellular and PCS service provider in seven of Mexico's nine
regions, including Mexico City, Guadalajara, Monterrey, Tijuana,
Acapulco, Puebla, Leon and Merida. The Company's service regions
encompass a total of approximately 92 million POPs, representing
approximately 90% of the country's total population. Iusacell is under
the management and operating control of subsidiaries of Verizon
Communications Inc. (NYSE:VZ).
For additional corporate information please visit the Company's
web site at http://www.iusacell.com.
This press release may contain statements about expected future
events and financial results that are forward-looking and subject to
risks and uncertainties. For those statements, the Company claims the
protection of the safe harbor for forward-looking statements contained
in the Private Securities Litigation Reform Act of 1995. Listed below
are some important factors which could affect future results and could
cause those results to differ materially from those expressed in the
forward-looking statements: materially adverse changes in the business
environment in Mexico, such as the change in value of the peso, the
imposition of exchange controls, inflation levels above those in the
U.S. and economic downturns; Iusacell's ability to develop new
technologies and hire and retain qualified personnel; the Company's
ability to obtain debt or equity financing necessary to pursue
business opportunities; and Iusacell's ability to adapt to rapid
technological change and significant competition.
CONTACT: Grupo Iusacell, S.A. de C.V., Mexico City
Investor Contacts:
Russell A. Olson, (5255) 5109-5751
russell.olson@iusacell.com.mx
or
Carlos J. Moctezuma, (5255) 5109-5780
carlos.moctezuma@iusacell.com.mx