SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT FORM
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
December 8, 1994
SAFECARD SERVICES, INCORPORATED
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(Exact name of registrant as specified in charter).
Delaware 1-10411 13-2650534
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(State or other jurisdiction (Commission (IRS Employer
ofincorporation) File Number) Identification No.)
3001 E. Pershing Boulevard, Cheyenne, WY 82001
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(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (307) 771-2700
N/A
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(Former name or former address, if changed since last report).
Item 5. Other Events
On December 14, 1994, the Company announced that it plans to
reorganize into a holding company and adopt a new corporate name.
After shareholder approval, the new holding company, designated
Ideon Group, Inc., will operate with strategic business units as
subsidiaries, including its core business, SafeCard Services;
Wright Express, a provider of enhanced information services to
commercial fleets; its credit card marketing and servicing
business, including the recently announced PGA Tour Partners
Program; and future new business development opportunities as they
occur.
On December 14, 1994, the Company announced the election of
John R. Birk, now President and Chief Executive Officer of Wright
Express, as President and Chief Operating Officer, effective
January 1, 1995.
On December 14, 1994, the Company and SunTrust Banks, Inc.,
jointly announced that SunTrust BankCard, N.A., a SunTrust
subsidiary, would team with SafeCard Services and the PGA TOUR to
issue a co-branded PGA TOUR Partners credit card. Under the
agreement with SunTrust, SafeCard will provide card acquisition and
customer servicing with funding provided by SunTrust.
On December 14, 1994 the Company announced it was considering
a change in the amortization of subscriber acquisition costs. If
the proposed change is adopted, subscription acquisition costs,
which are now amortized over the estimated life of the customer,
would be amortized over the one or three year subscription period.
Based on preliminary estimates, the change, if adopted, would
result in an after-tax charge of approximately $45 million.
On December 19, 1994, the Company announced that it will
officially relocate its corporate headquarters to Jacksonville,
Florida from Cheyenne, Wyoming, subsequent to its annual meeting of
shareholders in April 1995. The Company also announced that it has
agreed in principle to purchase the American Express Regional
Operating Center in Jacksonville to serve as a headquarters and
operations center. The Company expects to execute a definitive
agreement with American Express in the first quarter of 1995 and to
complete the transaction in late 1995 or early 1996.
Item 8. Change in Fiscal Year
On December 14, 1994, the Company announced that it would
change its fiscal year-end from October 31 to December 31. The
change in year-end was approved by the Board of Directors on
December 8, 1994. To effect the change, SafeCard will file a Form
10-Q by February 15, 1995 covering the period from November 1, 1994
through December 31, 1994 and the comparable 1993 periods.
SIGNATURES
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 hereunto duly authorized.
SAFECARD SERVICES, INCORPORATED
By: G. THOMAS FRANKLAND
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Name: G. Thomas Frankland
Title: Vice Chairman and
Chief Financial Officer
December 21, 1994
