-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BMCYFQ0JYmjOcBPeFowPobhF0630kaNRlCmNvkepTkXGiPi6Jbj4dvs2xFaMrv6v LfQeBUrAXftAh/bq/AOyCw== 0000950134-07-017469.txt : 20070809 0000950134-07-017469.hdr.sgml : 20070809 20070809105927 ACCESSION NUMBER: 0000950134-07-017469 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20070808 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070809 DATE AS OF CHANGE: 20070809 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CASH AMERICA INTERNATIONAL INC CENTRAL INDEX KEY: 0000807884 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-MISCELLANEOUS RETAIL [5900] IRS NUMBER: 752018239 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09733 FILM NUMBER: 071038374 BUSINESS ADDRESS: STREET 1: 1600 W 7TH ST CITY: FT WORTH STATE: TX ZIP: 76102 BUSINESS PHONE: 8173351100 MAIL ADDRESS: STREET 1: 1600 WEST 7TH STREET CITY: FORT WORTH STATE: TX ZIP: 76102 FORMER COMPANY: FORMER CONFORMED NAME: CASH AMERICA INVESTMENTS INC /TX/ DATE OF NAME CHANGE: 19920520 8-K 1 d49007e8vk.htm FORM 8-K e8vk
Table of Contents

 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported):
August 8, 2007
CASH AMERICA INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
         
Texas
(State of incorporation)
  1-9733
(Commission File No.)
  75-2018239
(IRS Employer Identification No.)
1600 West 7th Street
Fort Worth, Texas 76102
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (817) 335-1100
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


TABLE OF CONTENTS

ITEM 7.01. REGULATION FD DISCLOSURE.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
SIGNATURES
EXHIBIT INDEX
Press Release


Table of Contents

ITEM 7.01. REGULATION FD DISCLOSURE.
On August 8, 2007, the Company issued a press release announcing that it received gross proceeds in the amount of $16.8 million on the sale of its residual position in its formerly wholly-owned subsidiary, Svensk Pantbelåning. The Company sold Svensk Pantbelåning in September 2004 for cash and two subordinated notes receivable. One of the notes receivable was convertible into approximately 27.7% of the parent company of Svensk Pantbelåning on a fully-diluted basis. Svensk Pantbelåning was sold to a third party in early August. The $16.8 million received in the transaction represented payment of principal and interest owed on the notes receivable and the proceeds on the sale of the Company’s ownership rights under the convertible note. The Company also announced that it will use these proceeds for general corporate purposes, including the opportunity to repurchase Company shares on the open market.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
     
Exhibit    
No.   Description
99.1
  Press Release dated August 8, 2007.
Statement Regarding Forward Looking Information
This release contains forward-looking statements about the business, financial condition and prospects of Cash America International, Inc. and its subsidiaries (the “Company”). The actual results of the Company could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties including, without limitation, changes in demand for the Company’s services, the actions of third parties who offer products and services at the Company’s locations, fluctuations in the price of gold, changes in competition, the ability of the Company to open new operating units in accordance with its plans, economic conditions, real estate market fluctuations, interest rate fluctuations, changes in foreign currency exchange rates, changes in the capital markets, changes in tax and other laws and governmental rules and regulations applicable to the Company’s business, the ability to successfully integrate newly acquired businesses into the Company’s operations and other risks indicated in the Company’s filings with the Securities and Exchange Commission. These risks and uncertainties are beyond the ability of the Company to control, nor can the Company predict, in many cases, all of the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this release, terms such as “believes,” “estimates,” “plans,” “expects,” “anticipates” and similar expressions as they relate to the Company or its management are intended to identify forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements to reflect events or circumstances occurring after the date of this release.

 


Table of Contents

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 hereunto duly authorized.
         
  CASH AMERICA INTERNATIONAL, INC.
 
 
Date: August 9, 2007  By:   /s/ J. Curtis Linscott    
    J. Curtis Linscott, Executive Vice President   
    General Counsel and Secretary   

 


Table of Contents

EXHIBIT INDEX
     
Exhibit No.   Description
 
   
99.1
  Press release dated August 8, 2007.

 

EX-99.1 2 d49007exv99w1.htm PRESS RELEASE exv99w1
 

EXHIBIT 99.1
(CASH AMERICA INTERNATIONAL, INC. LOGO)
     
Additional Information:
  For Immediate Release
Thomas A. Bessant, Jr.
   
(817) 335-1100
   
*******************************************************************************************************************
CASH AMERICA ANNOUNCES GAIN FROM SALE OF RESIDUAL SWEDISH SECURITIES
*******************************************************************************************************************
Fort Worth, Texas (August 8, 2007) — Cash America International, Inc. (NYSE: CSH) announced today that it received gross proceeds in the amount of $16.8 million on the sale of its residual position in its formerly wholly-owned subsidiary, Svensk Pantbelåning. In September 2004, Cash America sold its chain of Swedish pawnshops, Svensk Pantbelåning, for cash and two subordinated notes receivable. One of the notes receivable was convertible into approximately 27.7%, of the parent company of Svensk Pantbelåning on a fully-diluted basis. The recent sale of Svensk Pantbelåning to a third party was completed in early August resulting in the repayment of the receivable plus the value of the equity interest.
The total proceeds of $16.8 million to Cash America represent $12.4 million in the repayment of principal and interest owed on notes receivable and $4.5 million through the sale of its ownership rights under the convertible note. Cash America expects to report a pre-tax gain of approximately $6.0 million in the third quarter of 2007.
Proceeds from the sale will be used for general corporate purposes, including the opportunity to repurchase shares in the open market pursuant to an existing share repurchase authorization, which has approximately 775,000 shares remaining available for repurchase.
Cash America recently released financial results for its second quarter ended June 30, 2007. Net income rose 31%, to $12.5 million (41 cents per share), excluding a $666,000 tax benefit (2 cents per share), compared to $9.5 million (31 cents per share, excluding a one-time gain on asset sale in the second quarter of 2006 equal to $1.4 million, 5 cents per share). Total revenue increased 43% for the three months ended June 30, 2007, to $213.9 million, compared to $149.9 million in the prior year.
     Cash America International, Inc. is a provider of specialty financial services to individuals in the United States with 928 total locations. Cash America is the largest provider of secured non-recourse loans to individuals, commonly referred to as pawn loans, through 492 locations in 22 states under the brand names Cash America Pawn and SuperPawn. The Company also offers short-term cash advances in many of its locations including 296 locations that offer this service under the brand names Cash America Payday Advance and Cashland. Short-term cash advances are also offered over the Internet to customers in the United States and the United Kingdom at http://www.cashnetusa.com and http://www.quickquid.co.uk, respectively. In addition, check cashing services are provided through its 140 franchised and Company-owned “Mr. Payroll” check cashing centers.
     For additional information regarding the Company and the services it provides, visit the Company’s websites located at:
http://www.cashamerica.com
http://www.cashnetusa.com
http://www.cashlandloans.com
http://www.quickquid.co.uk
     Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
     This release contains forward-looking statements about the business, financial condition and prospects of Cash America International, Inc. and its subsidiaries (the “Company”). The actual results of the Company could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties including, without limitation, changes in demand for the Company’s services, the actions of third parties who offer products and services at the Company’s locations, fluctuations in the price of gold, changes in competition, the ability of the Company to open new operating units in accordance with its plans, economic conditions, real estate market fluctuations, interest rate fluctuations, changes in foreign currency exchange rates, changes in the capital markets, changes in tax and other laws and governmental rules and regulations applicable to the Company’s business, the ability to successfully integrate newly acquired businesses into the Company’s operations and other risks indicated in the Company’s filings with the Securities and Exchange Commission. These risks and uncertainties are beyond the ability of the Company to control, nor can the Company predict, in many cases, all of the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this release, terms such as “believes,” “estimates,” “plans,” “expects,” “anticipates” and similar expressions as they relate to the Company or its management are intended to identify forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements to reflect events or circumstances occurring after the date of this release.
* * *

 

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-----END PRIVACY-ENHANCED MESSAGE-----