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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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) March 11, 1998
NICHOLAS FINANCIAL, INC.
(Exact name of registrant as specified in its Charter)
British Columbia, Canada 333-08407 8736-3354
(State or Other Jurisdiction of (Commission (I.R.S. Employer
Incorporation or Organization) File Number) Identification No.)
2454 McMullen Booth Road, Building C
Clearwater, Florida 34619
(Address of Principal Executive Offices) (Zip
Code)
(813) 726-0763
(Registrant's telephone number, Including area code)
Not applicable
(Former name, former address and former fiscal year, if changed
since last report)
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Item 5. Other Events
Effective March 11, 1998, the Company's common shares were
no longer listed on the Vancouver Stock Exchange. The
registrants common shares are listed on the NASDAQ SmallCap
System under the symbol NICKF. As a result of a February
resolution by both Canadian and USA Directors, the company
requested to be de-listed from the Canadian exchange in an
effort to reduce the expense and confusion of maintaining
different exchange symbols in two different countries.
On March 4, 1998, the registrant issued a press release
announcing its intention to de-list its common shares from the
Vancouver Stock Exchange, a copy of which is attached as exhibit
99.3 to this Form 8-K and incorporated herein by reference.
Item 7. Financial Statements and Exhibits
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(c) Exhibits
Exhibit No. Description of Document
99.3 Press release dated March 4, 1998 issued by
the registrant
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SIGNATURES
In accordance with the requirements of the Securities Act of
1934, the Registrant certifies that it has reasonable grounds to
believe that it meets all of the requirements for filing on Form
8-K and authorized this Report to be signed on its behalf by the
undersigned, in the City of Clearwater, State of Florida, on
March 17, 1998.
NICHOLAS FINANCIAL, INC.
(Registrant)
Date: March 17, 1998 /s/ Peter L. Vosotas
Peter L. Vosotas
Chairman, President, Chief
Executive Officer
(Principal Executive Officer)
Date: March 17, 1998 /s/ Ralph T. Finkenbrink
Ralph T. Finkenbrink
(Principal Financial Officer and
Accounting Officer)
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Exhibit 99.3
FOR IMMEDIATE RELEASE
Nicholas Financial, Inc.
Corporate Headquarters
2454 McMullen-Booth Rd.
Building C, Suite 501
Clearwater, FL 33759
Contact: Ralph Finkenbrink Nasdaq: NICKF
Vice President, Finance Web site: www.nicfn.com
Nicholas Financial, Inc.
Ph # - 813-726-0763
Fax # - 813-726-2140
NICHOLAS STOCK LISTED ON NASDAQ INSTEAD OF VANCOUVER EXCHANGE
March 4, 1998 - Clearwater, Florida - Nicholas Financial, Inc.,
announced today that at the close of business on March 11, 1998,
that its common shares trading under the symbol NIC.U, will be no
longer be listed on the Vancouver Stock Exchange. As the result
of a February resolution by both Canadian and USA directors, the
Company requested to be de-listed from the Canadian exchange in
an effort to reduce the confusion and expense of maintaining
different exchange symbols in two countries and to begin the
process to eliminate the Canadian parent company. Nicholas
Financial's application for NASDAQ SmallCap was approved December
29, 1997 and its shares now trade under the symbol, NICKF.
In 1986, Nicholas Data Services, a Florida corporation,
established a holding or "parent" company in Vancouver, British
Columbia in order to raise capital on the VSE. At that time the
shareholders of Nicholas Data Services, Inc in the U.S., swapped
their shares for an equal amount of shares in the newly formed
parent company, Nicholas Data Services, Ltd. The newly formed
parent then applied for a listing on the VSE and successfully
raised approximately $500,000 in a public offering during
September of 1987. The USA company, now a wholly owned subsidiary
of the Canadian parent was the only operating entity and
proceeded to operate as a developer of financial application
software for a variety of small businesses.
In 1990, a second Florida corporation, Nicholas Financial, Inc.
was formed as a consumer finance company. This Company quickly
became the predominant business of the two USA subsidiary
companies. As a result the name of the Nicholas Data Services,
Ltd. parent company was changed to Nicholas Financial, Inc., to
better identify the Company's primary business function.
Nicholas Financial, Inc. is a consumer finance company that
provides funding for pre-owned automobiles and light trucks. Its
software subsidiary, Nicholas Data Services, Inc. designs,
develops, supports and sells computer software to a variety of
small businesses.
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The Nicholas Financial, Inc. Canadian holding company does not
presently employ nor has it ever employed personnel in Canada.
The Company does not do business in Canada in any form and all
corporate officers are located in Florida. The company intends
to eliminate the Canadian holding company during the coming year.
As a result of the Canadian holding company's closing, the "F"
appended to Nicholas Financial's NASDAQ stock symbol will be
removed. The "F" stock symbol designation is used by NASDAQ to
signify a foreign corporation.
Peter L. Vosotas, President and CEO of Nicholas Financial Inc.,
expressed mixed feelings regarding the Company's exit from the
Canadian exchange. Mr. Vosotas stated, "Our relationship with
everyone on the Vancouver Stock Exchange has been terrific. They
made it possible for us to become a real company. Nicholas
Financial, Inc. got its start because of the VSE. We will be
forever in their debt."
"We regret any inconvenience that we might be causing any of our
Canadian shareholders. We sincerely believe that we will save a
great deal of confusion and expense by discontinuing the efforts
necessary to prepare filings, audits and other administrative
reporting for two separate securities commissions, in two
different countries."
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Attention: Shareholders, Brokers, Investors and Friends
You can receive prompt notification of company news and financial
information from Nicholas Financial, Inc. Simply visit our Web
Site at http://www.nicfn.com and provide your E-mail information
in our Investor Registry service. You can also provide this
information to our Investor Relations department at
1-800-237-2721. You will receive the latest company news from
Nicholas Financial, Inc. in you E-mail folder as soon as it is
released.
Don't forget to visit our web site for complete coverage of all Nicholas
Financial information.
