|By Business Wire||
|January 9, 2013 03:24 PM EST||
SAF Value Fund LLC has acquired a minority stake in Cash America, Inc. (“Cash America” or the “Company”) common stock. SAF’s Managing Member (“SAF”) has initiated contact with Company management and seeks a collaborative dialogue in pursuing a dual mandate of corporate restructuring and optimization of the Company’s capital allocation strategy.
SAF believes that the Board of Director’s fiduciary duty should compel it to initiate the divestiture of the Company’s e-commerce subsidiary while implementing a new capital allocation methodology, including a material increase in share repurchases. SAF believes its views are congruent with the feelings of many Cash America shareholders, who seek to not only maximize shareholder value, but also to mitigate potential regulatory exposure stemming from the Company’s short-term single-payment lending activities.
SAF’s analysis indicates that Cash America’s common equity is significantly undervalued and that the implementation of SAF’s proposals would unlock the currently hidden value of the Company’s e-commerce subsidiary, allow the market to more accurately appraise the worth of the Company’s retail operation and also increase the Company’s returns on invested capital.
Cash America shareholders are encouraged to visit: ShareholderValueforCashamerica.com for more information and may direct questions to: inquiries@ShareholderValueforCashAmerica.com.
- "All It Took Was One E-Mail to Larry," Says Former eBay Research Director As He Moves to Google
- Google Ramps Up Its Mobile Reach: Launches "Mobile Web Search"
- VoIP Update: Yahoo! Buys DialPad
- Ericsson + Napster = World's First "Wireless Digital Music" Brand
- Free Guest Passes for the SOA World Conference & Expo in NYC
- SYS-CON i-Technology Podcast August 30, 2005
- A Flair for Food - Health-Conscious Cooking Is This Chef's Cup Of Tea
- Sony PSP May Feature Porn
- Kapow Helps Seiko UK, Provides SMS Text-Alert Services
- South Korea is World's Largest Phisher
- Will the Mac OS Now Be Offered by Dell?
- UK Targeted for Trojan Attacks
- MAX 2006: Tracks Announced
- BT's "Fixed-Mobile" Phone Gives Callers the Best of Both Worlds
- MetaSolv to Host Provisioning Symposium in London