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8-K - FORM 8-K - DFC GLOBAL CORP. | w84168e8vk.htm |
EX-3.1 - EX-3.1 - DFC GLOBAL CORP. | w84168exv3w1.htm |
Exhibit 99.1
NEWS RELEASE
Contact: DFC Global Corp.
Financial Dynamics
Julie Prozeller / Amy Pesante
(212) 850-5600
Financial Dynamics
Julie Prozeller / Amy Pesante
(212) 850-5600
FOR IMMEDIATE RELEASE
Dollar Financial Corp Changes Name to DFC Global Corp.
BERWYN, Pa., Aug 24, 2011 (BUSINESS WIRE)
Dollar Financial Corp. (NASDAQ: DLLR), a leading international diversified financial services
company serving primarily unbanked and under-banked consumers for over 30 years, today announced
that it has changed its legal name to DFC Global Corp. A new logo accompanies the change. The
Company will continue to trade on the NASDAQ stock exchange under its current ticker symbol DLLR.
Commenting on the name change, Jeff Weiss, the Companys Chairman and Chief Executive Officer,
stated, The new name reflects the transformation of our Company from its origin in 1979 in the
United States to what is now a global enterprise, operating in seven countries across North
America, the United Kingdom and Europe. We feel this broad geographic expansion combined with our
expanded product portfolio, which now encompasses secured pawn lending, consumer lending, small
business advances, debit cards, gold purchasing, money transfer, check cashing, foreign exchange
and many others, necessitated a modification to our corporate identity to more accurately reflect
our continuing global expansion strategy and our diversified operating platforms.
Jeff Weiss, continued, Our products and services are squarely focused on what we call the ALICE
demographic (asset-limited, income-constrained, employed). The numbers of ALICE people are
increasing all around the globe driven by a significant on-going shift within many of the more
developed economies of the world towards service sector employment and lower paying jobs, as
manufacturing and some other higher paying occupations are off-shored to developing countries where
labor is less expensive. In order to meet this significant un-met
global demand, we expect to continue to invest in new technologies and sales channel strategies
through both internal development initiatives, as well as the acquisition of new businesses, which
will allow us to deliver our many products and services through the most convenient means our
consumers are accustomed to, and comfortable with, in each market. This collectively may include a
bricks and mortar store based model, a global internet platform, the in-home loan servicing model
widely used throughout Poland and Eastern Europe, and other new technologies and platforms that we
are either in the process of developing internally or are considering acquiring. I would like to
thank our more than 5,000 employees now spanning seven countries, who through their dedication and
tireless work ethic, continue to transform our Company into the world-class organization it is
today, as we strive towards our vision to be the first choice for financial services to the
unbanked and under-banked consumers around the globe.
About DFC Global Corp.
DFC Global Corp. is a leading international diversified financial services company serving
primarily unbanked and under-banked consumers and small business owners who, for reasons of
convenience and
accessibility, purchase some or all of their financial services from the Company
rather than from banks and other financial institutions. Through its nearly 1,300 retail storefront
locations, multiple Internet websites and mobile phone and other remote platforms, the Company
provides a variety of consumer financial products and services in seven countries across North
America and EuropeCanada, the United Kingdom, the United States, Sweden, Finland, Poland and the
Republic of Ireland. The Company believes that its customers, many of whom receive income on an
irregular basis or from multiple employers, are drawn to the range of financial services it offers,
the convenience of its products, the multiple ways in which they may conduct business with the
Company and its high-quality customer service.
The Companys products and services, principally its short-term single-payment consumer loans,
secured pawn loans, check cashing services and gold buying services, provide customers with
immediate access to cash for living expenses or other needs. The Company strives to offer its
customers additional high-value ancillary services, including Western Union(R) money
order and money transfer products, foreign currency exchange, reloadable VISA(R) and
MasterCard(R) prepaid debit cards and electronic tax filing. In addition to its core
retail products, the Company also provides fee-based services in the United States to enlisted
military personnel applying for loans to purchase new and used vehicles that are funded and
serviced under an exclusive agreement with a major third-party national bank through the Companys
branded Military Installment Loan and Education Services, or MILES(R), program.
The Companys networks of retail locations in Canada and the United Kingdom are the largest of
their kind by revenue in each of those countries. The Company believes it is also the largest pawn
lender in Europe by revenue. At June 30, 2011, the Companys global retail operations consisted of
1,269 retail storefront locations, of which 1,198 are company-owned financial services stores,
conducting business primarily under the names Money Mart(R), The Money
Shop(R), Insta-Cheques(R), mce(R), Suttons and
Robertson(R), The Check Cashing Store(R), Sefina(R), Helsingin
PanttiSM, Optima(R) and MoneyNow!(R). In addition to its retail
stores, the Company also offers Internet-based short-term single-payment consumer loans in the
United Kingdom primarily under the brand names Payday Express(R) and
PaydayUK(R), in Canada under the Money Mart name, and Finland and Sweden primarily under the Risicum(R) and OK
Money(R) brand names. For more information, please visit the Companys website at
www.dfcglobalcorp.com or through the Companys previous web address at www.dfg.com.
Forward-Looking Statement
This news release contains forward looking statements, including, among other things, statements
regarding the following: pending or recent acquisitions and their expected benefits; the Companys
future results, growth, guidance and operating strategy; the global economy; the effects of
currency exchange rates on reported operating results; the regulatory environment in Canada, the
United Kingdom, the United States, Scandinavia and other countries; the impact of future
development strategy, new stores and acquisitions; litigation matters; expected financing
initiatives; and the performance of new products and services. These forward looking statements
involve risks and uncertainties, including risks related to: the regulatory environments; current
and potential future litigation; the identification of acquisition targets; the consummation of
announced pending acquisitions, the integration and performance of acquired stores and businesses;
the performance of new stores; the impact of debt and equity financing transactions; the results of
certain ongoing income tax appeals; the effects of new products and services on the Companys
business, results of operations, financial condition, prospects and guidance; and uncertainties
related to the effects of changes in the value of the U.S. Dollar compared to foreign currencies.
There can be no assurance that the Company will attain its expected
results, successfully
consummate announced pending acquisitions, successfully integrate and achieve anticipated synergies
from any of its acquisitions, obtain acceptable financing, or attain its published guidance
metrics, or that ongoing and potential future litigation or the various FDIC, Federal, state,
Canadian, U.K., Scandinavia or other foreign legislative or regulatory activities affecting the
Company or the banks with which the Company does business will not negatively impact the Companys
operations. A more complete description of these and other risks, uncertainties and assumptions is
included in the Companys filings with the Securities and Exchange Commission, the Companys annual
reports and Forms 10-Q and 10-K. You should not place any undue reliance on any forward-looking
statements. The Company disclaims any obligation to update any such factors or to publicly announce
results of any revisions to any of the forward-looking statements contained herein to reflect
future events or developments.