Jamba, Inc. (NASDAQ:JMBA) ("Jamba" or the "Company") today announced the
Board of Directors of the Company approved, and the Company entered
into, an amendment to the Company’s stockholders rights agreement that
accelerates the expiration date of the preferred stock purchase rights
granted thereunder from 5:00 p.m., New York time, on October 8, 2018, to
5:00 p.m., New York time, on April 2, 2015, effectively terminating the
rights agreement as of that date.
The Board of Directors made its decision to accelerate the expiration
date of the rights agreement after receiving feedback from investors and
after considering its current corporate governance practices. However,
the Board of Directors reserved the right to adopt a new shareholder
rights agreement in the future, consistent with its fiduciary
responsibilities.
Stockholders are not required to take any action as a result of the
termination of the rights agreement. Jamba will be taking routine
actions to terminate, deregister and delist the related preferred stock
purchase rights under applicable law, including the Securities Exchange
Act of 1934. These actions are administrative in nature and will have no
effect on Jamba’s common stock.
About Jamba, Inc.
Jamba, Inc. owns and franchises Jamba Juice® stores through its
wholly-owned subsidiary, Jamba Juice Company. Jamba Juice Company is a
leading restaurant retailer of better-for-you, specialty beverage and
food offerings, which include great tasting, whole fruit smoothies,
fresh-squeezed juices and juice blends, hot teas and a variety of food
items including, Energy Bowls™, hot oatmeal, breakfast wraps,
sandwiches, Artisan Flatbreads™, baked goods and snacks. As of December
30, 2014, there were 868 store locations globally. There were 263
Company-owned and operated stores and 543 franchise-operated stores in
the United States, and 62 franchise-operated international stores. Jamba
Juice Company expands the Jamba® brand by direct selling of consumer
packaged goods (“CPG”) and licensing its trademarks. CPG products for
at-home enjoyment are available online, through select retailers across
the nation and in Jamba® outlets in the United States. Fans of Jamba
Juice® can find out more about Jamba Juice's locations as well as
specific offerings and promotions by visiting the Jamba Juice website at www.JambaJuice.com
or by contacting Jamba’s Guest Services team at 1-866-4R-FRUIT
(473-7848).
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