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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) January 29,
1997
NICHOLAS FINANCIAL, INC.
(Exact name of registrant as specified in its Charter)
British Columbia, Canada 333-08407 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 34619
(Address of Principal Executive Offices) (Zip Code)
(813) 726-0763
(Registrant's telephone number, Including area code)
Not applicable
(Former name, former address and former fiscal year, if changed
since last report)
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Item 5. Other Events
On January 28, 1997, the registrant entered into an
agreement providing for the purchase of approximately $3,085,000
of automobile installment sales contracts from Sun Systems
Financial Corporation, based in Punta Gorda, Fl.
On January 29, 1997, the registrant issued a press release
announcing the transaction, a copy of which is attached as
exhibit 99.1 to this Form 8-K and incorporated herein by
reference.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description of Document
99.1 Press release dated January 29, 1997 issued
by the registrant
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SIGNATURES
In accordance with the requirements of the Securities Act of
1934, the Registrant certifies that it has reasonable grounds to
believe that it meets all of the requirements for filing on Form
8-K and authorized this Report to be signed on its behalf by the
undersigned, in the City of Clearwater, State of Florida, on
February 11, 1997.
NICHOLAS FINANCIAL, INC.
(Registrant)
Date: Fenruary 11, 1997 /s/ Peter L. Vosotas
Peter L. Vosotas
Chairman, President,
Chief Executive Officer
(Principal Executive Officer)
Date: February 11, 1997 /s/ Ralph T. Finkenbrink
Ralph T. Finkenbrink
(Principal Financial Officer
and Accounting Officer)
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Exhibit No. 99.1 Press release dated January 29, 1997 issued
by the registrant
Nicholas Financial, Inc.
NEWS RELEASE
2454 McMULLEN BOOTH ROAD
BUILDING C, SUITE 501B
CLEARWATER, FLORIDA 34619
Contact: Sandra Krause
Ph # - (813) 726-0763
Fax# - (813) 726-2140
E-Mail-skrause@nicfn.com
Web Site-www.nicfn.com
NICHOLAS CONCLUDES ACQUISITION OF $3,085,000 WORTH
OF INSTALLMENT SALES AUTOMOBILE CONTRACTS
FROM SUN SYSTEMS FINANCIAL CORPORATION., PUNTA GORDA, FL
JANUARY 29, 1997 - Clearwater, Florida, Nicholas Financial,
Inc. announced today that it has successfully completed the
acquisition of approximately $3,085,000 of automobile installment
sales contracts from Sun Systems Financial Corporation, based in
Punta Gorda, Florida.
According to Ralph Finkenbrink, Vice President of Finance,
"This transaction will not materially affect the company's fourth
fiscal quarter financial results, but we believe that it will
have a positive effect on earnings over the next two years."
Nicholas Financial, Inc. is a specialized finance company
that provides funding for pre-owned automobiles and light trucks.
The company acquires and services retail installment sales
contracts through a network of branch office locations in Florida
and Georgia. The company also provides small consumer loans. Its
software subsidiary, Nicholas Data Services, Inc., designs,
develops, supports and sells computer software to small
businesses.
The company's stock is publicly traded and listed on the
Vancouver Stock Exchange under the symbol "NFC.U" and on the OTC
Bulletin Board under the symbol "NCFNF".