-----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, B41TEJDBuYFuWzC0v7GfTMmGzqnbzv6MUIciC0acnFKIlHmZ0WjD8yKilW1vQNEM nV8nzUtnY/IKzPWWPzliMQ== 0001157523-08-007693.txt : 20080929 0001157523-08-007693.hdr.sgml : 20080929 20080929125226 ACCESSION NUMBER: 0001157523-08-007693 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080929 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080929 DATE AS OF CHANGE: 20080929 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: 081093242 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 a5790516.htm CASH AMERICA INTERNATIONAL, INC. 8-K


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):
September 29, 2008

CASH AMERICA INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)

Texas

1-9733

75-2018239

(State of incorporation)

(Commission File No.)

(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:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



ITEM 7.01     Regulation FD Disclosure

On September 29, 2008, Cash America International, Inc. (the “Company”) announced that it had entered into a letter of intent to acquire an 80% ownership interest in a 100 store pawnshop chain located in Mexico operating under the name of Prenda Fácil.  A copy of the Company’s news release is furnished as Exhibit 99.1 to this report on Form 8-K.

ITEM 9.01     FINANCIAL STATEMENTS AND EXHIBITS

(c)       Exhibits

99.1      Copy of news release dated September 29, 2008, issued by Cash America International, Inc.


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:

September 29, 2008

By:

/s/ J. Curtis Linscott

J. Curtis Linscott

Executive Vice President, General Counsel &

Secretary


EXHIBIT INDEX

Exhibit No.

  Description
 
99.1

News release dated September 29, 2008, issued by Cash America International, Inc.

EX-99.1 2 a5790516ex991.htm EXHIBIT 99.1

Exhibit 99.1

Cash America Announces Intent to Acquire Ownership in 100 Pawn Locations in Mexico

FORT WORTH, Texas--(BUSINESS WIRE)--Cash America International, Inc. (NYSE: CSH) announced today that it has entered into a letter of intent to acquire an 80% ownership interest in a 100 store chain of pawnshops in Mexico. The transaction would allow Cash America to acquire what is believed to be the second largest privately owned pawn chain in Mexico through a majority purchase of the parent company which owns and operates the business. The operations, which are based in Mexico City, have locations in 16 Mexican states in the central region of the country under the brand name of “Prenda Fácil”. The acquisition is expected to be completed late in the fourth quarter of 2008 following the satisfactory completion of formal documentation, licensing, due diligence, financing and other matters customary in such transactions.

The terms of the acquisition call for Cash America to own 80% of Prenda Fácil after closing with the two current owners/management retaining the residual 20% interest. Consideration for the purchase is anticipated to include an initial payment of approximately $90 million in cash with a supplemental payment based on future performance after two and one-half years. The unaudited June 30, 2008 pawn loan receivables at Prenda Fácil were 236.6 million Mexican pesos (approximately $21.5 million). Cash America expects the transaction to be immediately accretive following the closing of the acquisition with the benefits expected to add to its 2009 results.

Commenting on the potential transaction with Prenda Fácil, Dan Feehan, President and Chief Executive Officer of Cash America International, Inc., said, “For many years we have evaluated various opportunities to expand our platform into Mexico because of the potential to serve its significant customer base. Today, we are pleased to announce that we have found a vehicle which would immediately establish a significant presence in Mexico, which is under the direction of a proven management team and has the potential for significant unit growth in the near term and for the years to come. This transaction also enhances our concentration of assets and revenue in our core pawn lending business.” Cash America proved its ability to manage and grow international pawn operations in Europe. In 1991 the Company acquired the largest chain of pawn shops in the United Kingdom and in 1994 it purchased the industry leader in Sweden. Both businesses grew significantly until the Company decided to focus exclusively on opportunities in North America and it sold both subsidiaries in September of 2004.

In other news, Cash America reported that it anticipates that changes announced by the Department of Banking in Pennsylvania related to its online offering of cash advance products will likely lead to the discontinuation of the product in that state early in 2009. Similarly, the State of Minnesota has announced changes in its governance of online cash advance products which could cause a material change to the economics of the product in that state late in 2008. In both cases the Company is reviewing these changes and related State laws to determine if alternatives exist to continue to offer economically feasible products to customers in those markets.

Cash America International, Inc. is a provider of specialty financial services to individuals in the United States with 928 total locations as of June 30, 2008. Cash America is the largest provider of secured non-recourse loans to individuals, commonly referred to as pawn loans, through 501 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 292 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 33 states in the United States and in the United Kingdom at http://www.cashnetusa.com and http://www.quickquid.co.uk, respectively. In addition, check cashing services are provided through its 135 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.

CONTACT:
Cash America International, Inc.
Thomas A. Bessant, Jr., 817-335-1100

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