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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: November 2, 1998
STAR BUFFET, INC.
(Exact name of registrant as specified in its charter)
Delaware 000-23099 84-14307896
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(State or other jurisdiction (Commission (IRS Employer Identification
of incorporation) File Number) Number)
1312 N. Scottsdale Road, Scottsdale, Arizona 85257
(Address of principal executive offices)
(602)425-0397
(Registrant's telephone number, including area code)
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Item 5. Other Events
On November 2, 1998, the Registrant received the resignations of William
P. Foley and C. Thomas Thompson from its Board of Directors effective November
2, 1998. A copy of such news release is filed as Exhibit 99.1 to this Form 8-K.
Additionally, on November 3, 1998 the Board of Directors received the
resignation of John F. North from its Board of Directors effective November 3,
1998.
Item 7. Financial Statements and Exhibits
Exhibit Number
99.1 Press Release dated November 3, 1998 regarding resignations of
certain directors.
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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.
STAR BUFFET, INC.
Date: November 9, 1998 By: /s/ ROBERT E. WHEATON
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Robert E. Wheaton
President and Chief Executive Officer
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EXHIBIT INDEX
The following exhibits are attached hereto and incorporated herein by
reference:
Exhibit Number
- --------------
99.1 Press Release dated November 3, 1998
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Exhibit 99.1
NEWS RELEASE
Contact: Robert E. Wheaton
President, CEO
Star Buffet, Inc.
(602) 425-0397
FOR IMMEDIATE RELEASE: Tuesday, November 3, 1998
STAR BUFFET COMPLETES REPURCHASE OF
2 MILLION SHARES FROM CKE RESTAURANTS
November 3, 1998 -- Star Buffet, Inc. (NASDAQ:STRZ), announced that it has
completed its purchase of 2 million shares of Star Buffet, Inc. from CKE
Restaurants, Inc. (NYSE:CKR) which was originally announced September 11. At the
time of the announcement, Star paid $5 million in cash and gave a $7.5 million
promissory note, which was paid on November 2.
Additionally, effective November 2, William P. Foley, II, CKE's chairman and
chief executive officer resigned as Star's chairman and as a member of the board
of directors of Star and C. Thomas Thompson, CKE's president and chief operating
officer resigned from Star's board of directors.
In closing this transaction successfully, Robert E. Wheaton, President and Chief
Executive Officer of Star said, "The board and I greatly appreciate the
contributions which Bill Foley and Tom Thompson have made to the growth and
success of Star and look forward to continuing an ongoing relationship with
CKE."
Star Buffet, through its subsidiaries, currently operates 16 franchised HomeTown
Buffet restaurants, nine franchised JB's Restaurants, six JJ North's Grand
Buffet restaurants, five North's Star Buffet restaurants, three Buddy Freddy's
restaurants, three Stacey's Buffet restaurants, two Maggies Buffet restaurants
and two Casa Bonita Mexican theme restaurants.
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