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 Company’s
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 Europe—Canada, 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 Company’s 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® money order and money transfer
products, foreign currency exchange, reloadable VISA® and
MasterCard® 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 Company’s branded Military
Installment Loan and Education Services, or MILES®, program.
The Company’s 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 Company’s 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®, The
Money Shop®, Insta-Cheques®, mce®, Suttons and Robertson®, The
Check Cashing Store®, Sefina®, Helsingin PanttiSM, Optima® and
MoneyNow!®. 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®
and PaydayUK®, in Canada under the Money Mart name, and Finland and
Sweden primarily under the Risicum® and OK Money® brand names. For
more information, please visit the Company's website at
www.dfcglobalcorp.com or through the Company’s 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
Company’s 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 Company’s 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 Company’s operations. A
more complete description of these and other risks, uncertainties
and assumptions is included in the Company’s filings with the
Securities and Exchange Commission, the Company’s 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.
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