Eateries, Inc. Board Votes to De-Register Stock
November 07 2003 - 9:26AM
PR Newswire (US)
Eateries, Inc. Board Votes to De-Register Stock OKLAHOMA CITY, Nov.
7 /PRNewswire-FirstCall/ -- Eateries, Inc.'s (BULLETIN BOARD: EATS)
Chairman & CEO Vincent F. Orza, Jr. announced today a decision
by the Company's Board of Directors to take the Company private by
terminating its registration under the Securities Exchange Act of
1934. The decision to go private was based on the progressively
higher costs and lack of associated benefits small public companies
face in light of the recent changes imposed under the new Sarbanes
Oxley regulations. The Board of Directors elected to defer filing
the de-registration form with the SEC until December 8, 2003, in
order to allow shareholders additional time to utilize the existing
public market should they wish to buy or sell shares prior to the
Company going private. The filing of the de-registration form with
the SEC will immediately suspend Eateries' obligation to file most
SEC reports. Eateries, Inc. will cease to be a public company 90
days after the filing of the de-registration form with the SEC.
From time to time, the Company may publish forward-looking
statements relating to certain matters including anticipated
financial performance, business prospects, the future opening of
Company-owned and franchised restaurants, anticipated capital
expenditures, and other matters. All statements other than
statements of historical fact contained in this press release or in
any other report of the Company are forward-looking statements. The
Private Securities Litigation Reform Act of 1995 provides a safe
harbor for forward-looking statements. In order to comply with the
terms of that safe harbor, the Company notes that a variety of
factors, individually or in the aggregate, could cause the
Company's actual results and experience to differ materially from
the anticipated results or other expectations expressed in the
Company's forward-looking statements including, without limitation,
consumer spending trends and habits; competition in the casual
dining restaurant segment; weather conditions in the Company's
operating regions; laws and government regulations; general
business and economic conditions; availability of capital; success
of operating initiatives and marketing and promotional efforts; and
changes in accounting policies. In addition, the Company disclaims
any intent or obligation to update those forward-looking
statements. DATASOURCE: Eateries, Inc. CONTACT: Vincent F. Orza,
Jr. of Eateries, Inc., +1-405-705-5000 Web site:
http://www.eats-inc.com/
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