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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.
"The stock repurchase program reflects the Board of Director's belief that the current price of the company's Common Stock is undervalued'' said Howard M. Lorber, Chairman of the Board and Chief Executive Officer. "This action underscores our belief that purchase of our stock is an attractive investment for our company and will help build shareholder value.''
Today Nathan's Famous, Inc. consists of 24 company-owned units, 382 franchised or licensed units, and more than 1,200 Branded Product points of sale, located throughout forty-one states, the District of Columbia and seventeen foreign countries featuring the Nathan's, Miami Subs and Kenny Rogers Roasters brands.
