Roadhouse Grill Announces It Will Postpone Proposed Tender Offer Transaction
POMPANO BEACH, Fla.--(BUSINESS WIRE)--Aug. 4, 2000--ROADHOUSE GRILL, INC. (Nasdaq:GRLL), a full service, casual dining restaurant operator, today announced that it has postponed further action in connection with its reported intention of making a tender offer for its non-affiliated stock.
Ayman Sabi, President & CEO, commented "that the retail financing environment has changed significantly since management announced its intention of making a tender offer for the stock on the public market. Considering the current financing environment, and after consultation with our Investment Banking Advisors, we determined that the proposed transaction is not advisable at this time."
Roadhouse Grill, Inc. currently owns and operates 76 full service, casual dining restaurants and franchises six other locations. The Roadhouse Grill concept offers a "rambunctious" style consistent with the Company's motto, "Eat, Drink and Be Yourself". The comfortable, entertaining roadhouse setting is designed to appeal to a broad range of customers, including business people, couples, singles and particularly families. Roadhouse Grill restaurants are located in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Nevada, New York, North Carolina, Ohio, South Carolina and Tennessee. 35 of the Company-owned restaurants are located in Florida. Three franchised Roadhouse Grill restaurants are located in Las Vegas, Nevada, two in Kuala Lumpur, Malaysia and one franchised restaurant recently opened in Brasilia, Brazil.
Certain statements in this release are forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release includes forward-looking statements based largely on the Company's expectations which are subject to a number of risks and uncertainties, including but not limited to economic, competitive and other factors affecting the Company's operations, markets, products and services, risks associated with growth, risks associated with media campaigns, risks associated with our ability to support our franchise organizations, the ability to obtain financing, the successful training and retention of personnel and other factors discussed elsewhere in this release and the documents filed by the Company with the Securities and Exchange Commission. Many of these factors are beyond the Company's control. Actual results could differ materially from these forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this press release will, in fact, occur.
For copies of Roadhouse Grill's recent press releases via fax, at no charge, please call 888/329-8932.
CONTACT:
Roadhouse Grill, Inc.
Ayman Sabi, President and CEO
Martin J. Bernholz, General Counsel
954/957-2600
Email: www.roadhousegrill.com
KEYWORD: FLORIDA
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