EAT » Topics » 14. SUBSEQUENT EVENTS

This excerpt taken from the EAT 10-K filed Aug 27, 2007.

14.   SUBSEQUENT EVENTS

        In August 2007, we announced that we have begun exploring the potential sale of the Macaroni Grill restaurant brand, which includes 217 company-owned restaurants. There is no assurance that this process will result in any transaction being consummated.

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This excerpt taken from the EAT 10-Q filed May 7, 2007.

10.  SUBSEQUENT EVENTS

In April 2007, we announced a plan to return capital to shareholders through an accelerated share repurchase (“ASR”) transaction for $297 million in common stock. The number of shares to be repurchased will be determined based on the volume weighted average share price during a specified period of time, subject to certain provisions that establish a minimum and maximum number of shares that may be repurchased.  The purchases will be executed by a broker-dealer over a time period not to exceed five and one-half months from the initial execution date.  Shares repurchased under the ASR will be held as treasury shares.  Under no circumstances will we be required to deliver shares or cash upon settlement to the broker-dealer in this transaction.

In April 2007, we also entered into an agreement for a one-year unsecured committed credit facility of $400.0 million. The facility bears interest at LIBOR plus an applicable margin, which is a function of our credit rating at such time, but is subject to a maximum of LIBOR plus 1.0%. The new credit facility will be used to fund the ASR and for general corporate purposes.

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EXCERPTS ON THIS PAGE:

10-K
Aug 27, 2007
10-Q
May 7, 2007
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