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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 (Date of earliest event reported): April 20, 1998
(April 20, 1998)
SHONEY'S, INC.
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(Exact name of registrant as specified in its charter)
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Tennessee 0-4377 62-0799798
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(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer
Identification No.)
1727 Elm Hill Pike
Nashville, Tennessee 37210
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(Address of principal executive offices) (Zip Code)
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Registrant's telephone number, including area code: (615) 391-5201
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(Former name or former address, if changed since last report)
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Item 5. Other Events
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Effective April 20, 1998, Shoney's, Inc. (the "Company") and Harris
Trust and Savings Bank, as Rights Agent, amended the Company's Amended and
Restated Rights Agreement to increase the beneficial ownership required to
qualify as an Acquiring Person from 10% to 20% or more of the outstanding shares
of the Company's Common Stock and to exclude from the definition of the
Acquiring Person the Company, any wholly-owned Subsidiary of the Company and any
employee stock ownership or other employee benefit plan of the Company or any
wholly-owned Subsidiary of the Company.
Item 7. Financial Statements and Exhibits
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(c) Exhibits:
99. Press release dated April 20, 1998 regarding Amendment No. 3 to
the Amended and Restated Rights Agreement between Shoney's, Inc.
and Harris Trust and Savings Bank, as Rights Agent
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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.
SHONEY'S, INC.
Date: April 20, 1998 By: /s/ F.E. McDaniel, Jr.
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F. E. McDaniel, Jr.
Chief Administrative Officer,
Secretary and General Counsel
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EXHIBIT INDEX
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NO. EXHIBIT
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99. Press release dated April 20, 1998 regarding
Amendment No. 3 to the Amended and Restated
Rights Agreement between Shoney's, Inc. and
Harris Trust and Savings Bank, as Rights Agent
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Nashville, TN, April 20, 1998 -- Shoney's, Inc. announced today that it had
amended its existing shareholder rights plan to increase the beneficial
ownership required to qualify as an acquiring person from 10% to 20% or more
of the outstanding shares of the company's common stock.
According to F.E. McDaniel, Jr., chief administrative officer, the
amendment to the shareholder rights plan also excludes from the definition of an
acquiring person the company, any wholly-owned subsidiary of the company and any
employee stock ownership or other employee benefit plan of the company or a
wholly-owned subsidiary of the company.
Shoney's, Inc. owns and operates a total of 1,360 restaurants in 33
states, including 874 company-owned and 486 franchised restaurants. The
company's stock is traded on the New York Stock Exchange, under the symbol
"SHN."
