Key Developments For Nathans Famous Inc
Nathans Famous Inc (NATH.O) (Consolidated Issue listed on NASDAQ Global Market)
Nathan's Famous, Inc. Announces Additional Stock Purchase Program For 500,000 Shares
Nathan's Famous, Inc. announced that its Board of Directors authorized the purchase of up to 500,000 shares of its common stock on behalf of the Company. The Company's separately announced that it entered into an agreement pursuant to which it acquired 238,129 of the shares authorized to be purchased under the stock purchase program. Additional purchases will be made from time to time, depending on market conditions, in open market or privately negotiated transactions, at prices deemed appropriate by management. There is no set time limit on the repurchases. To date, the Company's has acquired an aggregate approximately 2,930,000 shares of common stock at a cost of approximately $21,806,000 under all of its stock repurchase programs.
Nathan's Famous, Inc. Announces Share Buyback
Nathan's Famous, Inc. announced that the Company has authorized the purchase of up to an additional 500,000 shares of its common stock. Purchases will be made from time to time, depending on market conditions, in open market or privately negotiated transactions, at prices deemed appropriate by management. There is no set time limit on the repurchases.
Berjaya Corporation Berhad Acquires NF Roasters Corp From Nathan's Famous, Inc.
Berjaya Corporation Berhad announced that its wholly owned subsidiary, Roasters Asia Pacific (Cayman) Limited (RAPCayman) had entered into a stock purchase agreement (Agreement) with Nathan's Famous, Inc., a Delaware corporation, USA (NF) for the acquisition of the entire issued and outstanding shares of NF Roasters Corp, a Delaware corporation, USA (NF Roasters) for a total cash consideration of USD4.0 million (or about MYR12.8 million).
Nathan's Famous, Inc. Sues SMG Inc., Alleges Contract Breach-DJ
Dow Jones reported that Nathan's Famous Inc. has filed a suit against SMG Inc. alleging breach of a frankfurter-supply agreement between the companies. According to a filing with the Securities and Exchange Commission, the Company filed the suit in New York State Court and is also seeking a declaratory judgment that it properly terminated the agreement.
Nathan's Famous, Inc. Reports Sale Of Miami Subs Corporation
Nathan's Famous, Inc. announced the sale of its subsidiary, Miami Subs Corporation to Miami Subs Capital Partners I, Inc., an investment entity led by Bruce Galloway and Gary Herman. The purchase price was $3,250,000, consisting of $850,000 in cash and the buyer's secured promissory note in the amount of $2,400,000 payable over a four-year term.
