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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: May 22, 2000
PJ AMERICA, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-21587 61-1308435
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
2300 Resource Drive
Birmingham, Alabama 35242
(Address of principal executive offices)
(205) 981-2800
(Registrant's telephone number, including area code)
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Item 5. Other Events
On May 4, 2000, PJ America, Inc., a Delaware Corporation (the "Company")
announced that its Board of Directors had approved an additional $5 million
increase to the Company's share repurchase plan. The Company has also been
authorized to enter into a $10 million credit facility to fund the share
repurchase and for general corporate purposes.
Exhibit No. Description of Exhibit
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99 PJ America, Inc. Press Release dated May 4, 2000 announcing stock
repurchase and credit facility.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PJ AMERICA, INC.
Date: May 22, 2000 By /s/ D. Ross Davison
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D. Ross Davison
Vice President Administration,
Chief Financial Officer
And Treasurer (Principal
Financial Officer)
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[LOGO APPEARS HERE]
Contact: D. Ross Davison
Chief Financial Officer and Treasurer
(205) 981-2823
PJ AMERICA INCREASES STOCK REPURCHASE BY $5 MILLION
Birmingham, Alabama, May 4, 2000
PJ America, Inc. (NASDAQ: PJAM), the largest franchisee of Papa John's
International, Inc. announced today that its Board of Directors has approved an
additional $5 million increase to the Company's share repurchase program,
bringing the total authorization to date to $20 million. The authorization
includes both open market purchases as well as private transactions.
The Company has completed the $15 million in common stock repurchases
previously authorized by its Board of Directors. After such repurchases, the
Company has approximately 4.8 million shares of common stock outstanding.
The Company also announced that its Board of Directors has authorized the
Company to enter into a credit facility of $10 million to fund the increased
share repurchase program and for general corporate purposes.
