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.


Share this Story:


comments powered by Disqus

Franchise News Room »

News By Industry »

Featured Opportunities

Nestle Toll House Cafe by Chip
Nestlé Toll House Café by Chip is the only major, national dessert café that features top-quality branded cookies, baked goods, coffee, ice cream...
Liberty Tax Service
The fastest-growing income tax preparation franchise in North America.
Operated in studios across the globe, HYPOXI is proven not only to be an effective weight loss solution for men and women, but is also a popular...
Most Beautiful People
Own A Human Resources/Dating Agency's excellent franchising opportunity, you can become part of a growing business.
Caring Senior Service
Join a unique franchise with over 25 years of experience and the most comprehensive support and training system in our industry. There will never be...

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
Copyright © 2001 - 2017. All Rights Reserved.

In Loving Memory Of Timothy Gardner (1987-2014)