Press Release: ShoLodge Inc.
November 12, 2001
HENDERSONVILLE, TN -- ShoLodge, Inc. (Nasdaq/NM:LODG) Friday announced that the Board of Directors has authorized
the use of up to $3.0 million for the repurchase of additional shares of ShoLodge's common stock. The purchases,
including block purchases, are to be made from time to time in the open market at prevailing market prices, or
in privately negotiated transactions at the discretion of the Company's management. The Company currently has 5,173,278
shares of common stock outstanding, which were trading at $4.00 per share at the close of business Thursday. No
time limit has been placed on the duration of the repurchase plan, and the plan may be discontinued by the Company
at any time. The Company has completed its stock repurchase plan for up to $20.0 million of its common shares announced
in July, 1999.
Additionally, the Board of Directors has previously authorized the use of up to $25.0 million for the repurchase
of convertible subordinated debentures due 2004 and up to $15.0 million for the repurchase of senior subordinated
notes due 2006 and 2007. These repurchase programs continue in effect at this time.
This press release contains forward-looking statements relating to certain matters which reflect management's best
judgment based on factors currently known and involve risks and uncertainties. Actual results could differ materially
from the anticipated results or expectations expressed in the Company's forward-looking statements. Forward-looking
information provided by the Company pursuant to the safe harbor established under the Private Securities Litigation
Reform Act of 1995 should be evaluated in the context of these factors which are contained in the Company's Securities
and Exchange Commission (``SEC'') filings, including its periodic reports filed under the Securities Exchange Act
of 1934, as amended. Copies of these filings are available upon request from the Company. In addition, the Company
disclaims any intent or obligation to update these forward-looking statements.
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Contact:
ShoLodge Inc., Hendersonville
Bob Marlowe
Chief Financial Officer
615/264-8000