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 (date of earliest event reported):
December 8, 1999
Champps Entertainment, Inc.
(Exact Name of Registrant as specified in its charter)
Commission File Number: 0-22639
Delaware 04-3370491
(State or other jurisdiction (I.R.S. Employer
of incorporation) Identification No.)
One Corporate Place, 55 Ferncroft Road, Danvers, MA 01923
(Address of principal executive offices and zip code)
(978) 774-6606
(Registrant's telephone number, including area code)
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Item 5. Other Events
On December 8, 1999 the Company issued the following press release:
CHAMPPS ENTERTAINMENT, INC. ANNOUNCES
TERMINATION OF CHAMPP'S SHAREHOLDER RIGHTS AGREEMENT
Danvers, Massachusetts, December 8, 1999 - Champps Entertainment, Inc.
(NASDAQ: CMPP) (the "Company") announced today that its Board of Directors
approved the termination of Champps' Shareholder Rights Agreement, effective
immediately. The Board's decision to terminate the Shareholder Rights Agreement
was based on the Board's desire to improve liquidity in the Company's Common
Stock by removing restrictions on the ability of the Company's stockholders to
buy additional Common Stock of the Company, as well as the Board's belief that
the Shareholder Rights Agreement, which was adopted in 1998, was no longer
appropriate given the Company's simpler structure and reduced size.
Champps currently owns and operates 21 Champps Americana restaurants
and franchises 14 Champps Americana restaurants in select markets throughout the
United States.
Statements made in this press release include forward-looking
statements made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements, by their very nature,
are subject to risks and uncertainties that may cause actual results to differ
materially from those that are projected at this time. The risks and
uncertainties that the Company has identified as being most relevant to its
business and the subject matter of this discussion are summarized in detail in
the Company's reports filed with the SEC, including Management's Discussion and
Analysis of Results of Operations and Financial Condition in the Company's
Annual Report on Form 10-K for the fiscal year ended June 27, 1999, and its
Quarterly Report on Form 10-Q for the period ended October 3, 1999. The words
"believe", "estimate", "expect", "intend", "anticipate", "should" and similar
expressions and variations thereof identify certain of such forward-looking
statements, which speak only as of the dates on which they were made. The
Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events, or otherwise. Readers are cautioned that any such forward-looking
statements are not guarantees of future performance and involve risks and
uncertainties, and, therefore, readers should not place undue reliance on these
forward-looking statements.
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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.
UNIQUE CASUAL RESTAURANTS, INC.
(Registrant)
By: /s/ William H. Baumhauer
-------------------------------------
William H. Baumhauer
Chairman, President and Chief
Executive Officer
(Principal Executive Officer)
Dated: December 9, 1999
