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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
JUNE 5, 1996
Date of Report (Date of Earliest Event Reported)
EAGLE FINANCE CORP.
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction
of incorporation)
0-24286 36-2464365
(Commission (IRS Employer
File Number) Identification No.)
1425 TRI-STATE PARKWAY
SUITE 140
GURNEE, ILLINOIS 60031-4060
(Address of principal executive offices)(Zip code)
(847) 855-7150
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On Wednesday, June 5, 1996, Eagle Finance Corp., a Delaware corporation (the
"Company"), announced its appointment of Robert J. Braasch as President of the
Company and Ronald B. Clonts as Vice Chairman of the Company, effective July 1,
1996. Mr. Braasch is currently Senior Vice President and Chief Financial
Officer. He will continue to serve as Chief Financial Officer after July 1,
1996. Mr. Clonts is currently the President of the Company.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99 Press release issued by the Company announcing appointment of President.
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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.
EAGLE FINANCE CORP.,
a Delaware corporation
Date: June 12, 1996 By: /s/ Robert J. Braasch
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Robert J. Braasch
Chief Financial Officer,
Senior Vice President
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EXHIBIT 99
[EAGLE FINANCE CORP. LETTERHEAD]
CONTACT:
Robert J. Braasch / Howard J. Adamski John P. Kehoe / Van Negris
Eagle Finance Corp. Kehoe, White, Savage & Co., Inc.
(847) 855-7150 (212) 888-1616
FOR IMMEDIATE RELEASE
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EAGLE FINANCE CORP. APPOINTS ROBERT J. BRAASCH AS PRESIDENT:
RONALD B. CLONTS BECOMES VICE CHAIRMAN
Gurnee, IL - June 5, 1996 - Eagle Finance Corp. (NASDAW:EFCW) today announced
that Robert J. Braasch has been appointed president of the Company, effective
July 1, 1996, succeeding Ronald B. Clonts who will assume the position of Vice
Chairman of the Board. Charles F. Wonderlic continues as Chairman of the Board
and Chief Executive Officer. Mr. Braasch currently serves as Senior Vice
president and Chief Financial Officer and, in the new management structure, will
continue as Chief Financial Officer. Howard J. Adamski, who joined Eagle in
March 1996, will continue to serve as Vice President and Treasurer.
Mr. Braasch joined Eagle Finance Corp. in January 1994 and brings over 20 years
experience to his new role of President. Mr. Braasch's previous background
includes seven years with USA Financial Services, Inc. as Chief Financial
Officer and subsequently Chief Executive Officer. Prior to USA Financial
Services, Mr. Braasch retained various positions with Household Finance
Corporation, during his twelve years with the company, including six years as
Treasurer. Mr. Braasch graduated from DePaul University, Chicago, Illinois.
Charles F. Wonderlic, Chairman and Chief Executive Officer of Eagle Finance
Corp., stated: "We are very pleased to have someone of Bob Braasch's experience,
integrity and market and operational understanding of our business assume the
position of President, thus ensuring an orderly transition. Bob's principles of
clear customer focus and high standards of service have defined Eagle's approach
to the subprime automotive finance business. Bob's broad business background,
operating experience and personal compatibility brings to the position of
President the leadership resources we will need to plan and manage the growth we
anticipate during 1996 and the years ahead."
"We are also fortunate in our continuing relationship with Ron Clonts in his new
role as Vice Chairman, who brings over 35 years of senior business experience to
our board process. In his distinguished career with Eagle, he has demonstrated
sophisticated technical understanding, operations expertise and a strategic
market perspective to the specialized products of the consumer finance business
that have helped to fuel Eagle's growth. We are grateful for Ron's continuing
commitment to Eagle and its shareholders' long-term interests."
Eagle Finance Corp, is a specialized financial services company which purchased
and services installment contracts. Eagle finances the purchases of late model
used automobiles for consumers who have limited access to traditional sources of
consumer credit. Eagle is headquartered in Gurnee, Illinois and conducts its
operations through three regionally centralized offices. As of March 31, 1996,
Eagle had active relationships with approximately 380 automobile dealers located
in sixteen states.
