IHOP Corp. Shareholders Approve Outstanding Proxy Proposal Item
May 21 2008 - 4:00PM
Marketwired
GLENDALE, CA announced today that shareholders have ratified and
approved Proposal 2, which relates to the amendment of the IHOP
Corp. 2001 Stock Incentive Plan. On May 13, 2008, the Company
adjourned its annual meeting of shareholders without taking action
on Proposal 2 because the Company had learned that certain
shareholders had submitted proxies indicating their vote on
Proposal 2, but that their votes had not then been received or
processed by the Company's tabulation agent. The 2008 annual
meeting of shareholders was reconvened this morning at the
Company's corporate offices to take action on this proposal. As
previously announced, the shareholders approved Proposals 1, 3 and
4 on May 13, 2008.
About IHOP Corp.
Based in Glendale, California, IHOP Corp. franchises and
operates restaurants under the International House of Pancakes, or
IHOP, and the Applebee's Neighborhood Grill & Bar brands. With
more than 3,300 restaurants combined, IHOP Corp. is the largest
full-service restaurant company in the world. IHOP Corp.'s common
stock is listed on the NYSE under the symbol "IHP." For more
information on IHOP Corp., visit the Investor Relations section of
the Company's Web site located at www.ihop.com.
Forward-Looking Statements
There are forward-looking statements contained in this news
release. They use such words as "may," "will," "expect," "believe,"
"plan," or other similar terminology, and include statements
regarding the strategic and financial benefits of the acquisition
of Applebee's International, Inc., expectations regarding
integration and cost savings, and other financial guidance. These
statements involve known and unknown risks, uncertainties and other
factors, which may cause the actual results to be materially
different than those expressed or implied in such statements. These
factors include, but are not limited to: the implementation of the
Company's strategic growth plan; the availability of suitable
locations and terms for the sites designated for development; the
ability of franchise developers to fulfill their commitments to
build new restaurants in the numbers and time frames covered by
their development agreements; legislation and government regulation
including the ability to obtain satisfactory regulatory approvals;
risks associated with executing the Company's strategic plan for
Applebee's; risks associated with the Company's incurrence of
significant indebtedness to finance the acquisition of Applebee's;
the failure to realize the synergies and other perceived advantages
resulting from the acquisition; costs and potential litigation
associated with the acquisition; the ability to retain key
personnel after the acquisition; conditions beyond the Company's
control such as weather, natural disasters, disease outbreaks,
epidemics or pandemics impacting the Company's customers or food
supplies; or acts of war or terrorism; availability and cost of
materials and labor; cost and availability of capital; competition;
continuing acceptance of the IHOP, International House of Pancakes
and Applebee's brands and concepts by guests and franchisees; the
Company's overall marketing, operational and financial performance;
economic and political conditions; adoption of new, or changes in,
accounting policies and practices; and other factors discussed from
time to time in the Company's news releases, public statements
and/or filings with the Securities and Exchange Commission,
especially the "Risk Factors" sections of Annual and Quarterly
Reports on Forms 10-K and 10-Q. Forward-looking information is
provided by IHOP Corp. pursuant to the safe harbor established
under the Private Securities Litigation Reform Act of 1995 and
should be evaluated in the context of these factors. In addition,
the Company disclaims any intent or obligation to update these
forward-looking statements.
Contact: Stacy Roughan Director, Investor Relations IHOP Corp.
818-637-3632
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