Applebee's International Holds Annual Meeting of Stockholders
25 Mai 2007 - 8:13PM
Business Wire
Applebee�s International, Inc. (Nasdaq:APPB) held its Annual
Meeting of Stockholders today. At the meeting, stockholders elected
six directors: Richard C. Breeden, Laurence E. Harris, Jack�P.
Helms, Lloyd L. Hill, Burton M. Sack and Michael A. Volkema. Mr.
Helms will serve for a two-year term until the 2009 Annual Meeting,
and each of the other directors will serve for a three-year term
until the 2010 Annual Meeting. Each of the nominees received more
than 95�percent of the votes cast. Stockholders also approved an
amendment to the company�s Employee Stock Purchase Plan and
ratified the selection of Deloitte & Touche LLP as the
company�s independent registered public accounting firm for the
2007 fiscal year. These proposals received the affirmative vote of
more than 96 percent and 98 percent, respectively, of the votes
cast. In reiterating the company�s most recent public statements,
Dave Goebel, president and chief executive officer, said the
Strategy Committee of the Board of Directors is continuing its
thorough evaluation of alternatives and detailed due diligence
discussions before asking potential buyers to submit definitive,
binding proposals. Mr. Goebel reiterated that it is premature to
comment on the likelihood or potential values in a recapitalization
or sale relative to the other options the committee is evaluating.
There can be no assurance that any transaction will be pursued, or
if pursued, that it will be consummated by the company. The company
does not expect to disclose further developments regarding the
process until after the committee has completed its review and
evaluation of strategic alternatives. Applebee�s International,
Inc., headquartered in Overland Park, Kan., develops, franchises
and operates restaurants under the Applebee�s Neighborhood Grill
& Bar brand, the largest casual dining concept in the world. As
of April�29, 2007, there were 1,937 restaurants operating
system-wide in 49 states, 16 international countries, and one U.S.
territory. Additional information on Applebee�s International can
be found at the company�s website (www.applebees.com).
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