NICHOLAS FINANCIAL, INC. (NASDAQ:NICK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers
On June12, 2017, Ralph T. Finkenbrink informed Nicholas
Financial, Inc. (the Company) that he will retire as President
and Chief Executive Officer of the Company effective as of
September30, 2017, and resign as a director and Chairman of the
Board of the Company effective as of the date of the Companys
2017 Annual General Meeting of Shareholders.
The Board of Directors expects to initiate shortly a search for a
new President and Chief Executive Officer.
| Item7.01. | Regulation FD Disclosure. |
On June12, 2017, the Company issued a press release in connection
with the events reported above. A copy of the press release is
furnished as Exhibit 99.1.
In accordance with General Instruction B.2. of Form 8-K, the
information in this Item7.01 and Exhibit 99.1 hereto is being
furnished for informational purposes only and shall not be deemed
filed for purposes of Section18 of the Securities Exchange Act of
1934, as amended, or otherwise subject to the liabilities of that
section, nor shall such information be deemed incorporated by
reference in any filing under the Securities Act of 1933, as
amended, except as otherwise expressly stated in such filing.
The statements contained in this Current Report on Form8-K
that are not purely historical are forward-looking statements
within the meaning of Section27A of the Securities Act of 1933
and Section31E of the Securities Exchange Act of 1934, including
statements regarding the Companys expectations, hopes, beliefs,
intentions, or strategies regarding the future, constitute
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual
results may differ materially from those projected in the
forward-looking statements as a result of various factors. All
forward-looking statements included in this document are based on
information available to the Company on the date hereof and the
Company assumes no obligation to update any such forward-looking
statement. Prospective investors should also consult the risks
described from time to time in the Companys Reports on Forms10-K,
10-Q and 8-K and Annual Reports to Shareholders.
| Item9.01. | Financial Statements and Exhibits. |
(d) Exhibits
|
Exhibit Number |
Description |
|
| 99.1 |
Press Release of Nicholas Financial, Inc., dated June 12, 2017 |
About NICHOLAS FINANCIAL, INC. (NASDAQ:NICK)
Nicholas Financial, Inc. (Nicholas Financial-Canada) is a holding company. The Company’s business activities are conducted through its subsidiary, Nicholas Financial, Inc. (Nicholas Financial). Nicholas Financial is a specialized consumer finance company engaged primarily in acquiring and servicing automobile finance installment contracts (Contracts) for purchases of new and used automobiles and light trucks. Nicholas Financial also originates direct consumer loans (Direct Loans) and sells consumer-finance related products. Another subsidiary, Nicholas Data Services, Inc. (NDS), acts as the interim holding company for Nicholas Financial. The Company is engaged in the business of providing financing programs, primarily on behalf of purchasers of new and used cars and light trucks. The Company originates Direct Loans in Florida and North Carolina. As of March 31, 2016, the Company’s automobile finance programs were conducted in 18 states.