Maybe they start Buyingback.
Monday March 3 10:16 AM EDT
Newriders initiates 1.5 million share common stock repurchase program
FRESNO, Calif.--(BUSINESS WIRE)--March 3, 1997--Newriders Inc. (OTC Bulletin Board: "NWRD") announced
today that they have initiated a stock repurchase program to purchase up to 1,500,000 shares of common stock over the
next 12 months. The purchase of shares will be transacted through the open market and/or through private transactions.
The repurchased shares will be retired to treasury.
Newriders Inc., is the parent company of Newriders Limited. Newriders Limited owns and operates Easyriders Cafe
Restaurants, Roadware Apparel/Merchandise Stores, and Motorcycle Shops, pursuant to a franchising and licensing
agreement with Easyriders Franchising Inc.
Each Easyriders Cafe unit features spectacular physical design, layout and striking facades. By creating unique layouts and
decor with motorcycles, Easyriders memorabilia, and live music, an ongoing atmosphere of excitement is created. The
integrated retail store offers premium quality merchandise bearing the Easyriders distinctive brands and logo.
Newriders Inc. (OTC Bulletin Board: "NWRD"), is the parent company of Newriders Limited. Newriders Limited owns
and operates Easyriders Cafe Restaurants, Easyriders Roadware Apparel and Merchandise Stores, Easyriders Motorcycle
Shops, pursuant to a franchising and licensing agreement with Easyriders Franchising Inc. The company's theme restaurant
provides a unique dining and entertainment experience in a high-energy environment, that capitalizes on the universal appeal
of the Easyriders Magazine lifestyle.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under
the securities laws of any state.
CONTACT: Newriders Inc.
Michael T. Purcell, 209/447-4557
Investor Releations, 310/421-2063 |
