New members added to Committee to Enhance Steak n Shake led by Lions Fund, Biglari

By Lisa Kerner

Charlotte, N.C., June 4 - The Lions Fund, LP, part of a shareholder group also known as the Committee to Enhance Steak n Shake, added Wayne King, Jonathan Dash and Dash Acquisitions as parties to an agreement that gives Sardar Biglari the power to direct the voting of the group members' shares, according to a schedule 13D filing with the Securities and Exchange Commission.

As previously reported, hedge fund manager Biglari is attempting to gain a seat on Steak n Shake Co.'s board of directors.

In addition, investors led by the Lions Fund bought 188,900 shares of Steak n Shake between May 16 and June 2 priced from $6.42 to $6.92 each, the SEC filing reported.

Biglari is chairman and chief executive officer of Western Sizzlin Corp., which along with its affiliates including the Lions Fund, owns 13.1% of the Indianapolis-based casual dining restaurant franchisor.

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