MIAMI, Nov. 21, 2011 /PRNewswire/ -- Benihana Inc.
(NASDAQ: BNHN; BNHNA), operator of the nation's largest chain of
Japanese theme and sushi restaurants, welcomed the preliminary
results of the November 17, 2011
Special Meeting in which stockholders voted in favor of the
reclassification proposal (the "Reclassification") that will
simplify the Company's capital structure by reclassifying each
share of Class A Common Stock into one share of Common Stock.
Following the Special Meeting, the inspector of elections has
preliminarily determined that a majority of the outstanding Common
Stock voted in favor of the Reclassification. The proposal
was also approved by holders of Class A Common Stock.
Richard C. Stockinger, Benihana
Inc.'s Chairman, Chief Executive Officer, and President, commented,
"The vote results reflect our stockholders' belief that the
Reclassification will simplify the capital structure, improve
transparency and liquidity, increase flexibility to pursue
strategic opportunities, and strengthen corporate governance.
This is a transformational event for Benihana, and I would like to
thank our stockholders for their support. Our entire Board
and management team are focused on increasing the value of the
company, and as we continue to build on our strong performance
momentum and drive our business forward through new initiatives, we
remain continuously focused on enhancing value for our
stockholders."
About Benihana
Headquartered in Miami,
Benihana Inc. (NASDAQ GS: BNHN, BNHNA) is the nation's leading
operator of Japanese theme and sushi restaurants with 96
restaurants nationwide, including 63 Benihana restaurants, eight
Haru sushi restaurants and 25 RA Sushi restaurants. In addition, 18
franchised Benihana restaurants are operating in the United States, Latin America and the Caribbean. To learn more about Benihana Inc.
and its three restaurant concepts, please view the corporate video
at www.benihana.com/about/video.
Safe Harbor Statement
Except for the historical matters contained herein, statements
in this press release are forward-looking and are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that forward-looking
statements involve risks and uncertainties that may affect the
business and prospects of the Benihana, including, without
limitation: risks related to Benihana's business strategy,
including the Renewal Program and marketing programs; risks related
to Benihana's ability to operate successfully in the current
challenging economic environment; risks related to Benihana's
efforts to strengthen its Benihana Teppanyaki concept and build its
RA Sushi and Haru brands; uncertainty as to the final stockholder
vote counts pending the completion of the work of the inspector of
election; and other risks and uncertainties that may cause results
to differ materially from those set forth in the forward-looking
statements. Past performance may not be indicative of future
results. Although Benihana believes the expectations reflected in
such forward-looking statements are based upon reasonable
assumptions, there can be no assurance that its expectations will
be realized. In addition to the risks and uncertainties set forth
above, investors should consider the risks and uncertainties
discussed in Benihana's filings with the Securities and Exchange
Commission, including, without limitation, the risks and
uncertainties discussed under the heading "Risk Factors" in such
filings. Benihana does not undertake any obligation to publicly
update any forward-looking statement to reflect events or
circumstances after the date on which any such statement is made or
to reflect the occurrence of unanticipated events.
Media Contact
Jeremy Fielding / Anntal
Silver
Kekst and Company
(212) 521-4800
SOURCE Benihana Inc.