Cincinnati-based Frisch’s Restaurants announced Friday morning that the company will purchase on the open market and in private transactions up to 450,000 shares of its common stock, representing approximately 9 percent of the company’s total outstanding shares, over the next three years.
“This new stock repurchase program follows the successful completion of earlier programs that have added over 2.6 million shares to the treasury,” Craig F. Maier, Frisch’s president and CEO, said in a company news release. The repurchase plan “reflects our belief that the current share price represents a significant discount to the intrinsic value of the Company and that our stock is an attractive investment opportunity. Finally, it illustrates our commitment to enhancing long-term shareholder value and reflects our confidence in the future prospects of our Company.” STAFF REPORT