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Investor and Analyst Teleconference to Discuss 2015 Full Year Results


Notice of Investor and Analyst Briefing

Cash Converters International Limited (“Company”) advises that the Company intends to release its full-year result for the year ending 30 June 2015 on Friday 28 August 2015. Following the lodgement of Appendix 4E – Preliminary Final Report and PowerPoint Presentation to the ASX, the Company’s Managing Director will host an earnings teleconference for investors and analysts on Friday 28 August 2015 at 10.00am Western Australian time.

Conference Call Details
Date: Friday 28 August 2015
Time: 10.00am AWST, 12.00 pm AEST
National Toll Free Number: 1800 280 741
Overseas Toll Free Number: +61 3 8687 7788

Participants are requested to dial in 5-10 minutes prior to the start time.
To register your attendance, please email

For further information regarding the 2015 financial year results please refer to the Cash Converters Appendix 4E - Preliminary Final Report and the PowerPoint Presentation both of which will be lodged with the ASX on 28 August 2015.

Ralph Groom
Company Secretary

Update in regard to Banking Facilities


Westpac Banking Corporation has today written to the Company and have informed it that Westpac has taken the decision to cease to provide banking and financial products and services to its customers who provide Short Term Credit Contracts (STCCs) or Small Amount Credit Contracts (SACCs) under section 5(1) of the National Consumer Credit Protection Act 2009 (cth). Cash Converters is a licenced provider of financial services under the terms of this Act.
Westpac has assured the Company that they will implement this decision in accordance with the Company contractual agreements with Westpac, and in a considered and consultative way so as to allow the Company to establish alternative banking arrangements.
The Company currently has a securitisation facility with Westpac drawn to $59m which is contracted to March 2016 with an approximate six month run-off period. Westpac also provides transactional banking services to the Company and have agreed to provide these services until the expiry date of the securitisation facility.
The Company is confident that all Westpac facilities and services will be replaced in the ordinary course of business, including the securitisation facility for the personal loans.
Cash Converters is proud of the financial services it provides to thousands of ordinary Australians who might otherwise not have access to credit. The financial services we provide play a legitimate role in the economy as has been recognised by successive governments.
Ralph Groom
Company Secretary

Class Action Response


Cash Converters International Limited (Company) was served with a writ lodged with the New South Wales Registry of the Federal Court of Australia on 31 July by a Mr Sean Lynch seeking to commence a class action claim on behalf of borrowers resident in Queensland who took out personal loans from the Company’s subsidiaries during the period from 30 July 2009 to 30 June 2013.
Since 1 July 2013, the personal loan lending system has been undertaken in accordance with the regulatory regime introduced by the Federal Government, in conjunction with the States.
The current proceedings attack the “brokerage fee” charged to customers between 30 July 2009 and 30 June 2013. The brokerage fee system has not been used since 30 June 2013.
The proceedings relate to loans made only in Queensland to Queensland residents by Company subsidiaries based in Queensland, notwithstanding that the action has been commenced in New South Wales. The particular aspect being attacked in these proceedings is the charging of a brokerage fee to customers, mainly by franchisees, for the service of introducing customers to the Company’s subsidiaries, which provided the loans.
The action will be vigorously defended.
The Company is satisfied that the brokerage fee is not contrary to any Commonwealth or Queensland legislation. It was a system commonly used by the financial services industry in Queensland. The brokerage fee was introduced in 2009 with the knowledge of the then regulator, the Office of Fair Trading. The Office of Fair Trading was fully aware of the system and raised no objection either at the time it was introduced or at any time during its use. The Company’s franchisees participated in the lending system only after satisfying themselves independently from the Company that the system was not contrary to any regulatory regime within Queensland.
The writ is an ambit claim and does not quantify the amount sought to be recovered against the Company’s subsidiaries. In any event, whatever that claim may be, the Company is of the view that it has no prospects of success.

Acquisition of Six Victorian Stores


Cash Converters International Limited (“Cash Converters”) is pleased to announce that it has finalised the acquisition of six franchised stores in Victoria.
The stores have been purchased from an existing franchisee for a total cash consideration of $10.8million, including assets of $3.5 million. The acquisition price represents an EBIT multiple of 3.7 times on current earnings and an EBIT multiple of 2.5 times excluding acquired assets. The consideration will be paid out of Cash Converters cash reserves and existing financing facilities. The actual take-over of the stores will occur on 26 February 2015 and acquisition is subject to the store leases being renewed or transferred to Cash Converters (Stores) Pty Ltd. These acquisitions will take the number of corporate owned stores in Australia to 70 with 59 stores in the UK.
Click here to read the full article. 

Completion of Settlement to Terminate Agency Agreements


Cash Converters International Limited (“Cash Converters”, or “the Company”) is pleased to announce that it has today settled the termination of the agency agreements (“Licences”) with development agents Kentsleigh Pty Ltd and Cliffview Pty Ltd (“Development Agents”). This transaction was announced to the ASX on 27 November 2014.

The termination of the Licenses will provide Cash Converters with a number of benefits including the reduction in expenses with the elimination of commissions paid to the Development Agents on cash advance and personal loan lending products and an improvement in cash flow going forward.


Ralph Groom - Company Secretary

Green Light Auto Partnership with FleetPartners


Cash Converters International Limited is pleased to announce, that its wholly owned subsidiary, Green Light Auto Group (“GLA”), trading as ‘Carboodle’, has entered into an partnership agreement with FleetPartners for the provision of high quality fully maintained end of lease vehicles for re-lease to Carboodle’s customers. 
Click here to read the full announcement. 

New Director Appointed


Cash Converters International Limited advises that Mr David Carter will join the board of directors with effect from 1 December 2014. Mr Carter has been an international partner of one of the world’s largest law firms and has extensive legal and management experience. 
The Chairman of Cash Converters International Limited, Mr Reginald Webb said: “David’s appointment is very timely, since the Board have been seeking a suitable candidate for some time. With knowledge of both the financial services and franchise industries, David’s appointment will immediately add to the combined experience of our Board. We look forward to him joining from 1 December and I have no doubt David’s appointment will add to the quality candidates who have recently joined the Board of Cash Converters”. 
Click here to read the full announcement. 

Notice of Annual General Meeting 2014


The Annual General Meeting of Cash Converters International will be held on Wednesday 19th November at 10am (WST) at the Pan Pacific Hotel, 207 Adelaide Terrace Perth.

Full Details attached (PDF).

Appointment of a Director


Cash Converters advises that Mr Stuart Grimshaw will join the board of directors with effect from 1 November 2014. Mr Grimshaw's appointment completes the director representative changes made by EZCORP Inc to the Board of the Company.

Please see the attached for full details of Mr Grimshaw's experience (PDF).

Carboodle enters Referral and Broker Agreement with Aussie Car Loans


Cash Converters International Limited (“the Company”) is pleased to announce that its subsidiary,
Green Light Auto Group (GLA), trading as Carboodle, has entered into a Referral Agreement and a
Broker Agreement with Australia’s leading online car finance broker, Aussie Car Loans.
Under the Referral Agreement, customers that fall outside of the lending matrix criteria for Aussie Car
Loans panel of lenders, can now be referred to GLA and access the financial service products offered
by Carboodle.
Carboodle is a licenced motor vehicle dealer providing customers who don’t have access to
mainstream credit with a reliable and well maintained car (retail and commercial) via a lease structure
which incorporates most of the vehicle’s running costs.
Furthermore, under the Broker Agreement, GLA will have access to Aussie Car Loans panel of lenders.
This will enable GLA to offer a wider variety of finance options and products to its customers and open
up a new market segment not previously covered by the Carboodle product.
Aussie Car Loans is an independent, national finance and insurance brokerage that provides
competitive interest rates and terms through a broad range of lenders for the purchase of a large
selection of different vehicles.
Managing Director of Cash Converters, Mr Peter Cumins said, “It’s a very exciting opportunity for us
to accelerate the growth rate of the Carboodle business. Aussie Car Loans is a very well known and
successful brand and this deal is a great fit for both Companies”.
Managing Director of Aussie Car Loans, Mr Joe Martinovic said, “I’m looking forward to working closely
with the team at Carboodle. This new relationship will give our clients and Carboodle’s clients more
choice and flexibility”.