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) July 1, 2004
NICHOLAS FINANCIAL, INC.
(Exact name of registrant as specified in its Charter)
British Columbia, Canada 0-26680 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 33759
(Address of Principal Executive Offices) (Zip Code)
(727) 726-0763
(Registrant's telephone number, Including area code)
Not applicable
(Former name, former address and former fiscal year, if
changed since last report)
2
Item 5. Other Events
Nicholas Financial, Inc. announced effective today, the
Company has executed an amendment to its Line of Credit
Agreement. This amendment increases the revolving Line of
Credit to $85 million; it extends the maturity date of the
Line until November 30, 2006, and includes the addition of
the Bank of Scotland as its third participating bank.
Exhibit # Description
99 Press release dated July 1, 2004, announcing the
amendment to its Line of Credit Agreement.
3
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.
NICHOLAS FINANCIAL, INC.
(Registrant)
Date: July 1, 2004 /s/ Peter L. Vosotas
Peter L. Vosotas
Chairman, President,
Chief Executive Officer
(Principal Executive Officer)
Date: July 1, 2004 /s/ Ralph T. Finkenbrink
Ralph T. Finkenbrink
(Principal Financial
Officer and Accounting
Officer)
4
Exhibit Index
Exhibit Description
99 Press release dated July 1, 2004, announcing the
amendment to its Line of Credit Agreement.
5
Exhibit 99
FOR IMMEDIATE RELEASE
Nicholas
Nicholas Financial, Inc.
Corporate Headquarters
2454 McMullen-Booth Rd.
Building C, Suite 501
Clearwater, FL 33759
Contact: Ralph Finkenbrink
Sr. Vice President, Finance
NASDAQ: NICK
Web site: www.nicholasfinancial.com
Ph # - 727-726-0763
Fax # - 727-726-2140
Nicholas Financial Announces Revolving
Line of Credit Increase to $85,000,000
Bank of Scotland joins Consortium
July 1, 2004 - Clearwater, Florida - Nicholas Financial,
Inc. (Nasdaq, NICK), announced effective today, that the
Company has executed an amendment to its revolving line of
credit agreement. This amendment increases the revolving
line of credit to $85 million and extends the maturity date
of the line until November 30, 2006. The new agreement
includes the addition of Bank of Scotland as its third
participating bank. Bank of Scotland, whose parent HBOS plc
is the 6th largest bank in Europe, has agreed to become part
of the consortium of lenders to the Company. Bank of
America has been the Company's lead lender since 1993. The
participating lenders are First Tennessee Bank, Hibernia
National Bank and now Bank of Scotland.
According to Peter Vosotas, Chief Executive Officer and
President, "The Company is pleased to add Bank of Scotland
to its lending consortium as it gives the Company additional
leverage with its lenders. It allows the Company to extend
and expand its revolving line of credit without straining
the lending limits with any of these banks. Extending the
line of credit at this time gives the company the money that
it needs to continue its controlled growth for the next
three (3) years."
Founded in 1985, with assets of $103,223,000 as of March 31,
2004, Nicholas Financial is one of the largest publicly
traded specialty consumer finance companies based in the
Southeast. The Company presently operates out of 32 branch
locations in both the Southeast and the Midwest States. The
Company has approximately 6,500,000 shares of common stock
outstanding. For an index of Nicholas Financial Inc.'s news
releases or to obtain a specific release, visit our web site
at www.nicholasfinancial.com.
Except for the historical information contained herein, the
matters discussed in this news release include forward-
looking statements that involve risks and uncertainties
including competitive factors, the management of growth, and
other risks detailed from time to time in the Company's
filings and reports with the Securities and Exchange
Commission including the Company's Annual Report on Form 10-
K for the year ended March 31, 2004. Such statements are
based on the beliefs of the Company's management as well as
assumptions made by and information currently available to
Company management. Actual events or results may differ
materially.
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