DenAmerica chairman and CEO purchases 70,000 shares; raises stake in company to 3,176,504 shares.SCOTTSDALE, Ariz.--(BUSINESS WIRE)--April 10, 1997--DenAmerica Corp. (AMEX: DEN), the nation's largest franchisee of Denny's restaurants and the owner and franchisor of the Black-eyed Pea pea, hardy, annual, climbing leguminous plant (Pisum sativum) of the family Leguminosae (pulse family), grown for food by humans at least since the early Bronze Age; no longer known in the wild form. It is cultivated everywhere in home gardens and on a large scale commercially for freezing or canning. The round seed, borne in a pod, is a highly nutritious food, having a high protein and fiber content. (BEP BEP - Bachelor of Engineering Physics BEP - Basic Execution Plan BEP - Beam Equivalent Pressure BEP - Best Efficiency Point (centrifugal pumps) BEP - Best Estimated Position BEP - Bio-Energetic Practitioner BEP - Bis 2-Ethylhexyl phthalate BEP - Bit Error Probability BEP - Black Employment Program BEP - Black Eyed Peas (band) BEP - Blackeyed Peas BEP - Boiler External Piping BEP - Break-Even Point) restaurant chain, today reported that Chairman and Chief Executive Officer Jack M. Lloyd purchased 70,000 DenAmerica shares, raising his holdings to 3,176,504 shares, approximately 24% of the total shares outstanding. The shares were purchased at a price of $3.00 per share from a former executive of the Company. DenAmerica Corp., headquartered in Scottsdale, Arizona, currently operates approximately 307 family-oriented and casual dining, full-service restaurants, including 188 Denny's restaurants and 93 Black-eyed Pea restaurants. Company restaurants are located in 31 states, with the largest concentration in the West, Midwest and Southeast regions. CONTACT: Todd S. Brown Joseph N. Jaffoni Chief Financial Officer Robert L. Rinderman DenAmerica Corp. Jaffoni & Collins Incorporated 602/483-7055 212/505-3015 or jciir@aol.com |
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