CINCINNATI, July 27, 2012 /PRNewswire/ -- Frisch's
Restaurants, Inc. (NYSE MKT: FRS), announced today that its Board
of Directors has authorized the Company's purchase on the open
market and in privately negotiated transactions, of up to 450,000
shares of its common stock, representing approximately 9% of the
Company's total outstanding shares. These purchases may
begin immediately and may occur, from time to time, over the next
three years.
Craig F. Maier, President and
Chief Executive Officer, said, "This new stock repurchase program
follows the successful completion of earlier programs that have
added over 2.6 million shares to the treasury. It reflects
our belief that the current share price represents a significant
discount to the intrinsic value of the Company and that our stock
is an attractive investment opportunity. Finally, it
illustrates our commitment to enhancing long-term shareholder value
and reflects our confidence in the future prospects of our
Company."
About Frisch's Restaurants, Inc.
Frisch's is a regional company that operates full service
family-style restaurants under the name "Frisch's Big Boy."
All Big Boy restaurants are currently located in various regions of
Ohio, Kentucky and Indiana.
The Company owns the trademark "Frisch's" and has exclusive,
irrevocable ownership of the rights to the "Big Boy" trademark,
trade name and service marks in the states of Kentucky and Indiana, and in most of Ohio and Tennessee. All of the Frisch's
Big Boy restaurants also offer "drive-thru" service. The
Company also licenses Big Boy restaurants to other operators,
currently in certain parts of Ohio, Kentucky and Indiana.
Statements contained in this press release which are not
historical facts are forward looking statements as that item is
defined in the Private Securities Litigation Act of 1995. Such
forward looking statements are subject to risks and uncertainties
which could cause actual results to differ materially from
estimated results. Such risks and uncertainties are detailed in the
company's filings with the Securities and Exchange Commission.
www.frischs.com
SOURCE Frisch's Restaurants, Inc.