Mexican Restaurants, Inc. Announces Formation of A Special Committee to Consider Alternatives to Reduce Cost Burdens (NASDAQ: CASA)
The board of directors of Mexican Restaurants, Inc. announced the formation of a special committee comprised of five independent directors to explore and evaluate alternatives available to reduce the cost burdens of being a publicly traded company, including whether to discontinue its listing on Nasdaq and to terminate its registration under the Securities Exchange Act of 1934.
There is no timetable for the committee to make a recommendation nor does the committee intend to provide updates until it reaches its recommendation; it is unknown whether the board of directors will elect to pursue any recommendation of the committee.
Mexican Restaurants, Inc. operates and franchises 72 Mexican restaurants. The current system includes 55 Company-operated restaurants, 16 franchisee operated restaurants and one licensed restaurant.
