Western Sizzlin Corporation to Repurchase Shares Under Previously Announced Buyback Program

Determines not to proceed with Jack in the Box Exchange Offer

ROANOKE, Va., Nov. 19 // PRNewswire-FirstCall // -- Western Sizzlin Corporation (NASDAQ: WEST) today announced that it intends to make repurchases of its common stock under its previously announced stock repurchase program. The program authorizes Western to repurchase up to 500,000 shares of its common stock, with the timing, price and volume of purchases to be determined by management based on market conditions, relevant securities laws and other factors. Any stock repurchases may be made from time to time on the open market or in privately negotiated transactions.

Western also has determined not to proceed with an exchange offer for up to 680,500 shares of Jack in the Box Inc. (NYSE: JBX) at this time and has accordingly filed a request with the SEC for withdrawal of the related registration statement.

About Western Sizzlin Corporation

Western Sizzlin Corporation is a holding company owning subsidiaries engaged in a number of diverse business activities. Western's primary business activities are conducted through Western Sizzlin Franchise Corporation and Western Sizzlin Stores, Inc., which franchise and operate 116 restaurants in 19 states. Financial decisions are centralized at the holding company level, and management of operating businesses is decentralized at the business unit level. Western's primary objective centers on achieving above-average returns on capital in pursuit of maximizing the eventual net worth of its stockholders.

Forward Looking Statements

This news release may include "forward-looking statements" within the meaning of the federal securities laws. These statements concerning anticipated future results are based on current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ markedly from those projected or discussed here. Western Sizzlin Corporation cautions readers not to place undue reliance upon any such forward-looking statements, for actual results may differ materially from expectations. Further information on the types of factors that could affect the Company can be found in the Company's filings with the SEC.



comments powered by Disqus

Franchise News Room »

News By Industry »

Featured Opportunities

Dental Fix
Dental Fix franchise owners repair dental handpieces (drills) and equipment on-site. We are revolutionizing the dental service industry by delivering...
Jiffy Lube
Jiffy LubeĀ® pioneered the fast-lube category more than 35 years ago, changing the way millions of drivers care for their vehicles. Today, Jiffy Lube...
Colors On Parade
Mobile Vehicle Repair. We repair Paint Scratches, Dents, Dings & Interior non-collision damage. Our clients are Auto Dealers, Fleets and...
Massage Envy
Massage Envy clinics are designed to provide a compelling image, an inviting and functional environment and the highest degree of operational...
Beverly Hills Rejuvenation Center
Beverly Hills Rejuvenation Center (BHRC) provides the highest quality medical spa services to our clients in a comfortable and supportive...
Share This Page

Subscribe to Franchising.com Express

A Franchise Update Media Production
Franchise Update Media
P.O. Box 20547
San Jose, CA 95160
PH. (408) 402-5681
In Loving Memory Of Timothy Gardner (1987-2014)

Copyright © 2001 - 2018.
All Rights Reserved.