Ultimate Franchise Systems Approves Stock Buyback Program
Posted on: 19/12/2006
Ultimate Franchise Systems Approves Stock Buyback Program
Ultimate Franchise Systems Inc., a venture management company that develops ownership positions with mid-sized businesses, primarily in the restaurant industry, announced today that its Board of Directors has approved a program to repurchase and retire outstanding shares of the company's common stock.
The program is effective immediately and is expected to be continued at least through December 31, 2006.
Christopher M. Swartz, CEO and President of Ultimate Franchise Systems, Inc., stated, "Based on our perception of our current market valuation relative to our strong prospects for future corporate growth, the Board has approved a plan to repurchase shares of UFSJ common stock in the open market.
We are confident this course of action is in the best interest of Ultimate and our loyal shareholders. The Board will carefully monitor and analyze the share price during the next two months in order to determine the exact number of shares that will be repurchased."
Ultimate Franchise Systems, Inc. (UFSJ) is a venture management company that develops ownership positions with mid-sized businesses, primarily in the restaurant industry. UFSJ operates from four distinct platforms that diversify the company's revenue streams, while providing a myriad of organizational practices to support UFSJ affiliates. UFSJ guides affiliates in building a more significant infrastructure, refining and strengthening their competitive stance, and increasing the value of their brand affiliation, which leads toward Ultimate's goal of building a broad-based portfolio of growth and diversity.
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