0001279569-14-000656.txt : 20140417 0001279569-14-000656.hdr.sgml : 20140417 20140417091628 ACCESSION NUMBER: 0001279569-14-000656 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20140417 FILED AS OF DATE: 20140417 DATE AS OF CHANGE: 20140417 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Cash Store Financial Services Inc. CENTRAL INDEX KEY: 0001490658 STANDARD INDUSTRIAL CLASSIFICATION: LOAN BROKERS [6163] IRS NUMBER: 000000000 STATE OF INCORPORATION: A6 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34760 FILM NUMBER: 14768834 BUSINESS ADDRESS: STREET 1: 15511 ? 123 AVENUE, CITY: EDMONTON STATE: A0 ZIP: T5V 0C3 BUSINESS PHONE: 780-408-5110 MAIL ADDRESS: STREET 1: 15511 ? 123 AVENUE, CITY: EDMONTON STATE: A0 ZIP: T5V 0C3 6-K 1 cashstore6k.htm FORM 6-K

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

 

FORM 6-K

 

 

REPORT OF FOREGIN PRIVATE ISSUER

 

PURSUANT TO RULE 13A-16 OR 15D-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of April, 2014

 

Commission File Number: 001-34760

 

 

THE CASH STORE FINANCIAL SERVICES INC. 

(Translation of registrant's name into English)

 

 

15511-123 Avenue

Edmonton, Alberta, Canada T5V 0C3 

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F   þ Form 40-F  £ 

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

 

 

 

 

 
 

 

 
 

 DISCLAIMER

 

Cash Store Financial is a Canadian corporation that is not affiliated with Cottonwood Financial Ltd., or the outlets Cottonwood Financial Ltd. operates in the United States under the name “Cash Store.”  Cash Store Financial does not do business under the name “Cash Store” in the United States and does not own or provide any consumer lending services in the United States.

 

  

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

  THE CASH STORE FINANCIAL SERVICES INC.
Date: April 17, 2014    
  By: /s/ Craig Warnock
    Craig Warnock

Chief Financial Officer

 

 

 

 
 

             

EXHIBIT INDEX

 

 

Exhibit   Description of Exhibit
     
99.1   MCR - Cash Store Financial to Seek Creditor Protection and Reaches Agreement for DIP Financing,
99.2   MCR - Cash Store Financial Successfully Obtains Court Order for Creditor Protection

 

 

EX-99.1 2 ex991.htm MCR - CASH STORE FINANCIAL TO SEEK CREDITOR PROTECTION AND REACHES AGREEMENT FOR DIP FINANCING

Exhibit 99.1

 

FORM 51-102F3

MATERIAL CHANGE REPORT



Item 1   Name and Address of Company

  

The Cash Store Financial Services Inc. (“Cash Store Financial” or the “Company”)

15511-123 Avenue

Edmonton, AB

T5V 0C3

 

Item 2   Date of Material Change

 

April 16, 2014

 

Item 3   News Release

 

The news release with respect to the material change referred to in this report was disseminated via Canada Newswire on April 14, 2014 and filed on the system for electronic document analysis and retrieval (SEDAR).

 

Item 4   Summary of Material Change

 

Cash Store Financial to Seek Creditor Protection and Reaches Agreement for DIP Financing

 

Item 5.1 Full Description of Material Change

 

See attached Schedule “A”.

 

Item 5.2 Disclosure for Restructuring Transactions

 

Not Applicable

 

Item 6   Reliance on subsection 7.1(2) or (3) of National Instrument 51-102

 

Not Applicable

 

Item 7   Omitted Information

 

Not Applicable

 

Item 8   Executive Officers

 

Gordon Reykdal, CEO, at 780-408-5118 or

Craig Warnock, CFO, at 780-732-5683

 

Item 9   Date of Report

 

April 16, 2014

 
 

 

Description: SupportingDocument:a2380435cf174b1da43aac6fdfb29a11SCHEDULE “A”

 

NEWS RELEASE

 

April 14, 2014

 

 

 

Cash Store Financial to Seek Creditor Protection and Reaches Agreement for DIP Financing

 

EDMONTON, April 14, 2014 The Cash Store Financial Services Inc. (Cash Store Financial or the Company) announced today that the Company’s board of directors has voted to authorize the Company and its subsidiaries to bring an application in the Ontario Superior Court of Justice to seek protection from creditors under the Companies’ Creditors Arrangement Act (CCAA). Cash Store Financial’s board of directors has also authorized the Company and its subsidiaries to enter into a debtor-in-possession (DIP”) financing agreement pursuant to which up to $20.5 million will be available to the Company to enable the Company and its affiliates to continue operations during the CCAA proceedings.

 

Protection under the CCAA and the financing available under the DIP financing agreement will provide Cash Store Financial with the time and stability to attempt to restructure its affairs under the CCAA. The CCAA protections and the DIP financing agreement are subject to approval by the Ontario Superior Court of Justice. Cash Store Financial will provide a further update on these matters once more information is available.

 

The Company will remain open for business during the CCAA proceeding, its branches will continue to operate and daily lending will not be affected.

 

Forward Looking Statements:

This news release contains certain forward-looking statements about the objectives, strategies, financial conditions, results of operations and businesses of Cash Store Financial. Statements that are not historical facts are forward-looking and are subject to important risks, uncertainties and assumptions. These statements are based on our current expectations about our business, and upon various estimates and assumptions. The results or events predicted in these forward-looking statements may differ materially from actual results or events if known or unknown risks, trends or uncertainties affect our business, or if our estimates or assumptions turn out to be inaccurate. As a result, there is no assurance that the circumstances described in any forward-looking statement will materialize. Significant and reasonably foreseeable factors that could cause our results to differ materially from our current expectations, include, but are not limited to, a decision of the Ontario Superior Court of Justice not to grant the relief sought by Cash Store Financial, the inability of Cash Store Financial to fulfill the conditions to funding under the DIP financing agreement, and other factors that could affect Cash Store Financial’s ability to continue its operations during the CCAA proceeding, including the factors that are discussed in the section entitled "Risk Factors" contained in our Annual Information Form for the year ended September 30, 2013 dated December 11, 2013 filed by The Cash Store Financial Services Inc. with the Canadian securities commissions (available on SEDAR at www.sedar.com ), as updated in our most recent Management's Discussion and Analysis for the three months ended December 31, 2013. Unless required by law, we disclaim any intention or obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason.

 

 

 

 

About Cash Store Financial

 

Cash Store Financial is the only lender and broker of short-term advances and provider of other financial services in Canada that is listed on the Toronto Stock Exchange (TSX: CSF). Cash Store Financial operates 510 branches across Canada under the banners “Cash Store Financial” and “Instaloans”. Cash Store Financial also operates 27 branches in the United Kingdom.

 

Cash Store Financial and Instaloans primarily act as lenders and brokers to facilitate short-term advances and provide other financial services to income-earning consumers who may not be able to obtain them from traditional banks. Cash Store Financial also provides a private-label debit card (the “Freedom” card) and a prepaid credit card (the “Freedom MasterCard”) as well as other financial services, including bank accounts.

 

Cash Store Financial employs approximately 1,900 associates and is headquartered in Edmonton, Alberta.

 

Cash Store Financial is a Canadian corporation that is not affiliated with Cottonwood Financial Ltd. or the outlets Cottonwood Financial Ltd. operates in the United States under the name “Cash Store”. Cash Store Financial does not do business under the name “Cash Store” in the United States and does not own or provide any consumer lending services in the United States.

 

For further information, please contact:

 

Gordon Reykdal, CEO, at 780-408-5118,

 

Craig Warnock, CFO, at 780-732-5683, or

 

Peter Block, NATIONAL Public Relations, 416-848-1431

 

 

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M:7*283+"?]DY%4'^&R9_=W[#_>6BBE9'+/!8>6KB1_\`"M7S_P`?ZX_ZYU(G MPW48WWQ_!***+(E9=AOY2Y#\/--C`,TL\A^N*T[7PKI%MREFC$=WYHHIV-88 M:C!VC%&I%;10#$,<<8_V5Q4V***;-E;9!2T44B@HHHH`****`"BBB@`HHHH` *****`"BBB@#_V3\_ ` end EX-99.2 4 ex992.htm MCR - CASH STORE FINANCIAL SUCCESSFULLY OBTAINS COURT ORDER FOR CREDITOR PROTECTION

Exhibit 99.2

 

FORM 51-102F3

MATERIAL CHANGE REPORT

Item 1   Name and Address of Company

  

The Cash Store Financial Services Inc. (“Cash Store Financial” or the “Company”)

15511-123 Avenue

Edmonton, AB

T5V 0C3

 

Item 2   Date of Material Change

 

April 16, 2014

 

Item 3   News Release

 

The news release with respect to the material change referred to in this report was disseminated via Canada Newswire on April 14, 2014 and filed on the system for electronic document analysis and retrieval (SEDAR).

 

Item 4   Summary of Material Change

 

Cash Store Financial Successfully Obtains Court Order for Creditor Protection

 

Item 5.1   Full Description of Material Change

 

See attached Schedule “A”.

 

Item 5.2   Disclosure for Restructuring Transactions

 

Not Applicable

 

Item 6   Reliance on subsection 7.1(2) or (3) of National Instrument 51-102

 

Not Applicable

 

Item 7   Omitted Information

 

Not Applicable

 

Item 8   Executive Officers

 

Gordon Reykdal, CEO, at 780-408-5118 or

Craig Warnock, CFO, at 780-732-5683

 

Item 9   Date of Report

 

April 16, 2014

 
 

 

Description: SupportingDocument:a2380435cf174b1da43aac6fdfb29a11SCHEDULE “A”

 

News Release

 

April 14, 2014

 

Cash Store Financial Successfully Obtains Court Order for Creditor Protection

 

EDMONTON, April 14, 2014 /CNW/ - The Cash Store Financial Services Inc. (“Cash Store Financial” or the “Company”) (TSX: CSF) announced today that, further to its news release issued earlier today, the Ontario Superior Court of Justice (Commercial List) (“Court”) has issued an order granting the Company’s application for creditor protection under the Companies’ Creditors Arrangement Act (“CCAA”). FTI Consulting Canada Inc. will serve as the Court-appointed Monitor in the CCAA proceedings to oversee the operations of the Company and report to the Court during the restructuring.

 

The Court determined that the approval of the Company’s request for approval of debtor-in-possession financing (“DIP Financing”) will be considered at a hearing scheduled for tomorrow to afford the Court time to consider competing DIP Financing Proposals.

 

The decision to commence CCAA proceedings was made after extensively exploring alternatives following thorough consultation with its legal and financial advisors. The Company sought protection to address near term liquidity issues, which were caused in part by certain regulatory actions taken in Ontario that impacted on the Company’s primary product offering in that jurisdiction. In light of these and other matters, Cash Store Financial’s board of directors determined that a CCAA proceeding is the most prudent and effective way to carry on business and maximize value for the Company’s stakeholders.

 

Cash Store is committed to completing the restructuring process quickly and efficiently. The Company remains open for business, its branches continue to operate and daily lending is continuing.

 

 

About Cash Store Financial

 

Cash Store Financial is the only lender and broker of short-term advances and provider of other financial services in Canada that is listed on the Toronto Stock Exchange (TSX: CSF). Cash Store Financial operates 510 branches across Canada under the banners “Cash Store Financial” and “Instaloans”. Cash Store Financial also operates 27 branches in the United Kingdom.

 

 

Cash Store Financial and Instaloans primarily act as lenders and brokers to facilitate short-term advances and provide other financial services to income-earning consumers who may not be able to obtain them from traditional banks. Cash Store Financial also provides a private-label debit card (the “Freedom” card) and a prepaid credit card (the “Freedom MasterCard”) as well as other financial services, including bank accounts.

 

Cash Store Financial is headquartered in Edmonton, Alberta.

 

Cash Store Financial is a Canadian corporation that is not affiliated with Cottonwood Financial Ltd. or the outlets Cottonwood Financial Ltd. operates in the United States under the name “Cash Store”. Cash Store Financial does not do business under the name “Cash Store” in the United States and does not own or provide any consumer lending services in the United States.

 

For further information, please contact:

 

Gordon Reykdal, CEO, at 780-408-5118,

 

Craig Warnock, CFO, at 780-732-5683, or

 

Peter Block, NATIONAL Public Relations, 416-848-1431

 

Forward Looking Statements:

This news release contains certain forward-looking statements about the objectives, strategies, financial conditions, results of operations and businesses of Cash Store Financial. Statements that are not historical facts are forward-looking and are subject to important risks, uncertainties and assumptions. These statements are based on our current expectations about our business, and upon various estimates and assumptions. The results or events predicted in these forward-looking statements may differ materially from actual results or events if known or unknown risks, trends or uncertainties affect our business, or if our estimates or assumptions turn out to be inaccurate. As a result, there is no assurance that the circumstances described in any forward-looking statement will materialize. Significant and reasonably foreseeable factors that could cause our results to differ materially from our current expectations, include, but are not limited to, a decision of the Ontario Superior Court of Justice not to grant the relief being sought by Cash Store Financial, the inability of Cash Store Financial to fulfill the conditions to funding under any DIP financing agreement to be entered into by Cash Store, and other factors that could affect Cash Store Financial’s ability to continue its operations during the CCAA proceeding, including the factors that are discussed in the section entitled "Risk Factors" contained in our Annual Information Form for the year ended September 30, 2013 dated December 11, 2013 filed by The Cash Store Financial Services Inc. with the Canadian securities commissions (available on SEDAR at www.sedar.com ), as updated in our most recent Management's Discussion and Analysis for the three months ended December 31, 2013. Unless required by law, we disclaim any intention or obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason.

 

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