Key Developments For Finish Line Inc
Finish Line Inc (FINL.O) (Nasdaq)
Finish Line, Inc. Declares Quarterly Cash Dividend of $0.03
Finish Line, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.03 per share of outstanding Class A and Class B common stock. The quarterly cash dividend will be payable December 15, 2009 to shareholders of record as of November 27, 2009.
Finish Line, Inc. Establishes E-Commerce Division
Finish Line, Inc. announced that it has established a division to focus exclusively on its growing e-commerce channel. The new division unites the Finish Line e-commerce advertising, design and content team, which was based in the marketing department, with the technology and operations team that was formerly part of the information systems group.
Finish Line, Inc. Declares Quarterly Cash Dividend
Finish Line, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.03 per share of Class A and Class B common stock. The quarterly cash dividend will be payable on September 15, 2009, to shareholders of record as of August 28, 2009.
Finish Line, Inc. Closes Man Alive Transaction
Finish Line, Inc. announced that it has closed its transaction with Man Alive Acquisitions, LLC (MA), an entity controlled by Jimmy Khezrie, the owner and operator of Jimmy Jazz stores. Finish Line had previously announced plans to exit the Man Alive business on June 22, 2009.
Finish Line, Inc. To Exit Man Alive
Finish Line, Inc. announced a plan to exit its unprofitable Man Alive business. The Company has entered into a definitive agreement with Man Alive Acquisition, LLC (MA) an entity controlled by Jimmy Khezrie, the owner and operator of Jimmy Jazz stores, under which MA will assume certain assets and liabilities of Man Alive. The transaction has been approved by the Company's Board of Directors and is expected to close in early July. Under the terms of the definitive agreement, MA will assume certain assets and liabilities of Man Alive (as specified in the purchase agreement), including the 75 retail stores (under both the Man Alive and Decibel names), the leasehold interests and lease liabilities of Man Alive, as well as intellectual property, including the Man Alive and Decibel trademarks and trade names. The Company will pay approximately $7 million in cash with up to $5 million to be paid at closing and the remaining amount to be paid in 12 equal monthly installments with the first payment made on the first day of the first month following closing. Upon closing, all Man Alive field staff will be employed by MA.
