El Pollo Loco adopts limited-duration shareholder rights plan

El Pollo Loco announced that its Board of Directors has unanimously adopted a limited-duration shareholder rights plan to protect the best interests of all El Pollo Loco shareholders. The Rights Plan is effective immediately and will expire on August 7, 2024. The Board may consider an earlier termination of the Rights Plan if circumstances warrant. The limited-duration Rights Plan was adopted in response to the rapid and significant accumulation of El Pollo Loco stock by Biglari Capital Corp. The Rights Plan is intended to enable the Company’s shareholders to realize the long-term value of their investment, ensure that all shareholders receive fair and equal treatment in the event of any proposed takeover of the Company, and to guard against tactics to gain control of the Company without paying all shareholders an appropriate premium for that control. The Rights Plan applies equally to all current and future shareholders and is not intended to deter offers or preclude the Board from considering offers that are fair and otherwise in the best interest of the Company’s shareholders.