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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
January 31, 2000
PAPA JOHN'S INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 61-1203323
(State or other jurisdiction of (I.R.S. Employer identification
incorporation or organization) number)
2002 PAPA JOHN'S BOULEVARD
LOUISVILLE, KENTUCKY 40299-2334
(Address of principal executive offices)
(502) 261-7272
(Registrant's telephone number, including area code)
ITEM 5. OTHER EVENTS
On January 31, 2000, Papa John's International, Inc. announced that its Board
of Directors approved an increase to $150 million in the amount of the
company's common stock which may be repurchased by the company from time to
time through December 31, 2000. The company announced that it completed the
$100 million in common stock repurchases previously authorized by its Board
of Directors. The company also announced that its Board of Directors has
authorized an increase of its existing credit availability to $200 million to
fund the increased share repurchase and for general corporate purposes. This
summary of the attached press release is qualified in its entirety by the
complete text of such document, a copy of which is attached hereto as Exhibit
99.1.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits 99.1 Press Release dated January 31, 2000.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant had duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
PAPA JOHN'S INTERNATIONAL, INC.
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(Registrant)
Date: February 1, 2000 /s/ E. Drucilla Milby
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E. Drucilla Milby
Senior Vice President,
Chief Financial Officer
and Treasurer
EXHIBIT INDEX
EXHIBIT NO.
99.1 Press Release dated January 31, 2000
EXHIBIT 99.1
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FOR IMMEDIATE RELEASE
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FOR MORE INFORMATION, CONTACT:
Dru Milby
Chief Financial Officer and Treasurer
Papa John's International, Inc.
(502) 261-4942
PAPA JOHN'S INCREASES STOCK
REPURCHASE AUTHORIZATION TO $150 MILLION
Louisville, KY (January 31, 2000) -- Papa John's International, Inc. (NASDAQ:
PZZA) today announced that its Board of Directors has approved an increase to
$150 million in the amount of the company's common stock which may be
repurchased by the company from time to time through December 31, 2000. The
authorization includes both open market purchases as well as private
transactions.
The company announced that it has completed the $100 million in common stock
repurchases previously authorized by its Board of Directors. After such
repurchases, the company currently has approximately 27.3 million shares of
common stock outstanding on a fully diluted basis.
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The company also announced that its Board of Directors has authorized an
increase of its existing credit availability to $200 million to fund the
increased share repurchase and for general corporate purposes.
At January 31, 2000, there were 2,283 Papa John's restaurants (591
company-owned and 1,692 franchised) operating in 47 states and six
international markets. Papa John's also owns or franchises 206 Perfect Pizza
restaurants (15 company-owned and 191 franchised) in the United Kingdom. For
more information about the company, visit Papa John's at www.papajohns.com.
