Famous Daveâ€™s of America, Inc. today announced that its Board of Directors has authorized a stock repurchase plan whereby the Company may repurchase up to one million additional shares of its common stock. The shares may be repurchased from time-to-time in the open market or through privately negotiated transactions and will be funded from available working capital. The repurchase plan may be discontinued at any time at the discretion of the Company. Currently, the Company has approximately 9.3 million shares outstanding.
The Company indicated that it has repurchased approximately 900,000 shares under the repurchase plan approved in September 2007, including 400,000 shares purchased August 5, 2008. Currently, including shares remaining under the prior authorization, there are approximately 1,100,000 shares authorized for repurchase under Famous Daveâ€™s stock repurchase program.