SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-KSB
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported) October 14, 1999
Allstate Financial Corporation
(Exact name of registrant as specified in its charter)
Virginia 0-17832 54-1208450
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
or incorporation)
2700 South Quincy Street; Arlington, Virginia 22206
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (703) 931-2274
Item 5. Delisting of Common Stock by The Nasdaq Stock Market Inc.
On October 14, 1999, the Registrant, Allstate Financial Corporation (the
"Company") issued a Press Release disclosing that its common stock would be
delisted from The Nasdaq Stock Market National Market as of October 18, 1999.
Item 7. Financial Information, Pro Forma Financial Information and Exhibits.
<PAGE>
Financial Statements of Businesses Acquired.
Not applicable
Pro Forma Financial Information.
Not applicable.
99. Exhibits.
Press Release dated October 14, 1999.
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 thereunto duly authorized.
Dated: October 14, 1999 ALLSTATE FINANCIAL CORPORATION
By: /s/C.Fred Jackson
--------------------------------
C. Fred Jackson
Senior Vice President and
Chief Financial Officer
ALLSTATE FINANCIAL CORPORATION
2700 S. Quincy Street, Suite 540
Arlington, VA 22206
FOR IMMEDIATE RELEASE
CONTACT: Charles G. Johnson, President and CEO
C. Fred Jackson, Senior Vice President and CFO
PHONE: (703) 931-2274
ALLSTATE FINANCIAL STOCK TO TRADE ON THE OTC BULLETIN BOARD EFFECTIVE
OCTOBER 18, 1999
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ARLINGTON, VA, October 14,1999 - Allstate Financial Corporation
("Allstate"or the "Company") (Nasdaq: ASFN) today announced that it had been
informed by the The Nasdaq Stock Market that it no longer meets the requirements
for continued trading under the Nasdaq's National Market Standards, as a result
of failing to maintain a market value of public float greater than or equal to
$5,000,000 and tangible assets, net of liabilities, of a minimum of $4,000,000.
The Nasdaq Staff also has determined that Allstate's securities do not qualify
for listing on the Nasdaq SmallCap Market, and that its common stock will be
delisted from The Nasdaq Stock Market, effective with the opening of business on
Monday, October 18, 1999. Allstate will be eligible for trading on the OTC
Bulletin Board.
Allstate Financial Corporation provides funding to small and
medium-sized companies through a variety of lending and investing techniques.
Charles G. Johnson, President and CEO, stated "The Board continues to
explore options for future business strategies to return the company to
profitability." He noted this included a significant reduction in operating
expenses, collection of non-earning assets and elimination of the Company's
senior bank line.
This Press Release contains certain "forward-looking statements"
relating to the Company which represent the Company's current expectations or
beliefs, including, but not limited to, statements concerning the Company's
operations, performance, financial condition and growth. For this purpose, any
statements contained in this Press Release that are not statements of historical
fact may be deemed to be forward-looking statements. Without limiting the
generality of the foregoing, words such as "may", "will", "expect", "believe",
"anticipate", "intend", "could", "estimate", or "continue", or the negative or
other variation thereof or comparable terminology are intended to identify
forward-looking statements. These statements by their nature involve substantial
risks and uncertainties, such as credit losses, dependence on management and key
personnel, seasonality, and variability of quarterly results, ability of the
Company to obtain adequate financing, competition, and regulatory restrictions
relating to potential new activities, certain of which are beyond the Company's
control. Should one or more of these risks or uncertainties materialize or
should the underlying assumptions prove incorrect, actual outcomes and results
could differ materially from those indicated in the forward-looking statements.
