INDIANAPOLIS, Feb. 5 /PRNewswire-FirstCall/ -- Indianapolis based Noble
Roman's, Inc. (OTC Bulletin Board: NROM) today announced that it entered
into an amended loan agreement with Wells Fargo Bank. This amendment
provides the company with an additional $3 million.
This amendment allows the company to repurchase shares of its common
stock in such amounts and on such terms as are approved by the company's
board of directors from time to time, provided the aggregate purchase price
of such repurchased shares shall not exceed $3 million. Proceeds of the
additional loan may also be used for general corporate purposes. The board
of directors has not approved any repurchase plan at this time. If the
board of directors approves an open market repurchase program in the
future, the company will publicly announce it at that time.
In August 2005, as part of a financial transaction that resulted in a
one- time gain, the company borrowed $9 million which borrowing had since
been reduced through normal payments to a principal amount of approximately
$5.375 million. This new loan amendment increases the company's total debt
to approximately $8.375 million, keeps the same monthly payment
amortization and reduces the interest rate by 1/4 percent per annum.
Noble Roman's, Inc. is the franchisor of Noble Roman's Pizza and
Tuscano's Subs for both non-traditional and traditional locations in 45
states plus a limited number of international locations primarily in
The statements contained in this press release concerning the company's
future revenues, profitability, financial resources, market demand and
product development are forward-looking statements (as such term is defined
in the Private Securities Litigation Reform Act of 1995) relating to the
company that are based on the beliefs of the management of the company, as
well as assumptions and estimates made by and information currently
available to the company's management. The company's actual results in the
future may differ materially from those projected in the forward-looking
statements due to risks and uncertainties that exist in the company's
operations and business environment including, but not limited to:
competitive factors and pricing pressures, shifts in market demand, general
economic conditions and other factors, including (but not limited to)
changes in demand for the company's products or franchises, the success or
failure of individual franchisees and the impact of competitors' actions.
Should one or more of these risks or uncertainties adversely affect the
company or should underlying assumptions or estimates prove incorrect,
actual results may vary materially from those described herein as
anticipated, believed, estimated, expected or intended.
SOURCE Noble Roman's, Inc.