CHARLOTTE, N.C., May 25, 2012 (GLOBE NEWSWIRE) -- Chanticleer Holdings, Inc. (OTCQB:CCLRD) (OTCBB:CCLRD) ("Chanticleer" or the "Company"), a business operator focused on expanding the Hooters casual dining restaurant brand in international markets, announces that effective at the opening of trading on Friday, May 25, 2012 Chanticleer Holdings (the "Company") effected a one for two reverse split of its common stock ("Reverse Split"). The reverse split was approved by the Company's Board of Directors and its shareholders at a special meeting held on May 11,2012. Fractional shares will be rounded up to the next whole share.
As a result of the reverse split, a "D" will be placed on the common stock's ticker symbol for 20 business days, including the effective date.
About Chanticleer Holdings, Inc.
Chanticleer Holdings (OTCQB:CCLR) (OTCBB:CCLR) is a business operator focused on expanding the Hooters casual dining restaurant brand in international markets. Chanticleer currently has rights to develop and operate Hooters restaurants in South Africa and has joint ventured with the current franchisee in Australia. The company also has franchise rights to develop Hungary and parts of Brazil while evaluating several additional opportunities internationally.
In 2011, Chanticleer and a group of noteworthy private equity investors, which included H.I.G. Capital, KarpReilly, LLC and Kelly Hall, president of Texas Wings Inc., the largest Hooters franchisee in the United States, acquired Hooters of America (HOA). Today, HOA is the franchisor and operator of over 450 Hooters restaurants in 44 states and 28 foreign countries. Chanticleer maintains a minority ownership stake in HOA and its CEO, Mike Pruitt, is also a member of HOA's Board of Directors. For further information, please visit www.chanticleerholdings.com or www.hooters.com and follow us on Twitter at @ChantHoldings or @Hooters.
Safe Harbor Statement
This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statement of historical fact (including statements containing the words "believes," "plans," "anticipate," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events. Further information on our business, including important factors which could affect actual results are discussed in the Company's filings with the SEC, including its Annual Report on Form 10-K under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations."