Red Robin Gourmet Burgers (RRGB) to Buyback $50M Common
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Red Robin Gourmet Burgers, Inc., (NASDAQ: RRGB), a casual dining restaurant chain focused on serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today announced that the Company’s Board of Directors reauthorized its share repurchase program currently set to expire December 31, 2012. The Board has approved the repurchase of up to $50 million in the Company’s common stock. The share repurchase authorization is effective the earlier of January 1, 2013, or upon completion of the current authorization, and will terminate upon completing repurchases of $50 million of common stock unless otherwise terminated by the Board.
Purchases under the repurchase program may be made in open market or privately negotiated transactions and are expected to comply with applicable Securities and Exchange Commission rules. Purchases may be made from time to time at the Company’s discretion and the timing and amount of any share repurchases will be determined based on share price, market conditions, legal requirements and other factors. The share repurchase program does not obligate the Company to acquire any particular amount of common stock, and it may be suspended or discontinued at any time
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Purchases under the repurchase program may be made in open market or privately negotiated transactions and are expected to comply with applicable Securities and Exchange Commission rules. Purchases may be made from time to time at the Company’s discretion and the timing and amount of any share repurchases will be determined based on share price, market conditions, legal requirements and other factors. The share repurchase program does not obligate the Company to acquire any particular amount of common stock, and it may be suspended or discontinued at any time
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