Kona Grill, Inc. (Nasdaq: KONA), an American grill and sushi bar, announced today that its Board of Directors has approved a stock repurchase program under which the Company is authorized to repurchase up to 600,000 shares of its common stock. Any stock repurchases will be made in the open market. The repurchases will be made at management's discretion in the open market in compliance with applicable securities laws and other legal requirements and are subject to market conditions, share price, available cash and other factors. The plan does not obligate the Company to acquire any particular amount of common stock and the plan may be suspended or discontinued at any time.
"Kona Grill is dedicated to creating long-term value, and repurchasing our common stock represents the Board's confidence in our Company's future," said Marcus E. Jundt, Chief Executive Officer and President of Kona Grill.
The Company also announced that it will release first quarter 2008 financial results on Wednesday, April 30, 2008 after the market close.
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