Big Buck Brewery & Steakhouse, Inc. Completes Going Private Transaction
27 March 2004 - 12:15AM
PR Newswire (US)
Big Buck Brewery & Steakhouse, Inc. Completes Going Private
Transaction GAYLORD, Mich., March 26 /PRNewswire-FirstCall/ -- Big
Buck Brewery & Steakhouse, Inc. (BULLETIN BOARD: BBUC)
announced today that it has completed its going private
transaction. At a special meeting of shareholders held on March 25,
2004, the Company's shareholders approved amendments to the
Company's Restated Articles of Incorporation providing for (1) a
1-for-10 reverse stock split of the Company's common stock, (2)
cashpayment of $0.25 per pre-split share to any shareholder who
would not be entitled to receive at least one whole share of common
stock in connection with the reverse stock split, and (3) a
10-for-1 forward stock split of the Company's common stock. As a
result of this recapitalization, which became effective on March
25, 2004, the number of record holders of the Company's common
stock decreased to approximately 250, thereby enabling the Company
to make a filing to deregister its common stock. As a result of the
deregistration, the Company will not be filing further periodic
reports with the SEC under the Exchange Act. As an additional
consequence of the deregistration, the Company's common stock will
no longer be eligible for trading on the OTCBB. The ownership of
the Company remains essentially the same as before the
recapitalization. About the Company Big Buck Brewery &
Steakhouse, Inc. operates restaurant-brewpubs, offering casual
dining, a high quality, moderately priced menu and a variety of
award- winning craft-brewed beers, in Gaylord, Michigan; Auburn
Hills, Michigan; and Grapevine, Texas. The Grapevine unit is owned
and operated by Buck & Bass, L.P. pursuant to a joint venture
agreement between the Company and Bass Pro Outdoor World, L.L.C.
DATASOURCE: Big Buck Brewery & Steakhouse, Inc. CONTACT:
Anthony P. Dombrowski, President, Chief Executive Officer, Chief
Financial Officer and Treasurer of Big Buck Brewery &
Steakhouse, Inc., +1-989-731-0401 Web site: http://www.bigbuck.com/
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