Jamba, Inc. Increases Share Repurchase Program
May 12 2015 - 8:30AM
Business Wire
Jamba, Inc. (NASDAQ:JMBA), a leading healthy, active lifestyle
brand, today announced that its Board of Directors increased its
share repurchase authorization from $25 million to $40 million.
The company has repurchased approximately $21.8 million of the
original $25 million authorized in November of 2014. The increased
authorization leaves approximately $18.2 million of unspent
authorization. The authorization expires May 4, 2016 and share
repurchases may be made from time to time in the open market or in
negotiated transactions depending on share price, market conditions
and other factors.
“We are pleased that the Board agreed to increase our share
repurchase program by $15 million,” said James D. White, chairman,
president and CEO of Jamba, Inc. “We plan to use some of our
proceeds from the refranchise initiative to repurchase shares.”
About Jamba, Inc.
Jamba, Inc. owns and franchises Jamba Juice® stores through its
wholly-owned subsidiary, Jamba Juice Company. Jamba Juice Company
is a leading restaurant retailer of better-for-you, specialty
beverage and food offerings, which include great tasting, whole
fruit smoothies, fresh-squeezed juices and juice blends, hot teas
and a variety of food items including, Energy Bowls™, hot oatmeal,
breakfast wraps, sandwiches, Artisan Flatbreads™, baked goods and
snacks. As of December 30, 2014, there were 868 store locations
globally. There were 263 Company-owned and operated stores and 543
franchise-operated stores in the United States, and 62
franchise-operated international stores. Jamba Juice Company
expands the Jamba® brand by direct selling of consumer packaged
goods (“CPG”) and licensing its trademarks. CPG products for
at-home enjoyment are available online, through select retailers
across the nation and in Jamba® outlets in the United States. Fans
of Jamba Juice® can find out more about Jamba Juice's locations as
well as specific offerings and promotions by visiting the Jamba
Juice website at www.JambaJuice.com or by contacting Jamba’s Guest
Services team at 1-866-4R-FRUIT (473-7848).
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are those involving future events
and future results that are based on current expectations,
estimates, forecasts, and projections as well as the current
beliefs and assumptions of the Company’s management. Words such as
“outlook”, “believes”, “expects”, “appears”, “may”, “will”,
“should”, “anticipates”, or the negative thereof or comparable
terminology, are intended to identify such forward looking
statements. Any statement that is not a historical fact is a
forward-looking statement. Forward-looking statements are only
predictions and are subject to risks, uncertainties and assumptions
that are difficult to predict. Therefore actual results may differ
materially and adversely from those expressed in any
forward-looking statements. You should not place undue reliance on
forward-looking statements. The Company does not assume any
obligation to update the information contained in this press
release.
ICRDara Dierks, 203-682-8200investors@jambajuice.comorJamba
JuiceMike Fuccillo, 510-596-0100, X-7Dir. Corporate
Communicationsmfuccillo@jambajuice.com
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