Ameritrade to Acquire Accounts From JB Oxford & Company.Business Editors OMAHA Omaha, city, United States Omaha (ō`məhä, –hô), city (1990 pop. 335,795), seat of Douglas co., E Nebr., on the west bank of the Missouri River; inc. 1857. , Neb. & LOS ANGELES--(BUSINESS WIRE)--June 7, 2004 Ameritrade Holding Corporation (Nasdaq:AMTD AMTD Arithmetic Mean Temperature Difference AMTD Automatic Magnetic Tape Distribution AMTD Affordability and Manufacturing Technology Demonstration ) and JB Oxford Holdings, Inc (Nasdaq:JBOH) today announced that Ameritrade, Inc., a subsidiary of Ameritrade Holding Corporation, has signed a definitive agreement to purchase the online retail accounts of JB Oxford & Company, a subsidiary of JB Oxford Holdings, Inc. JB Oxford has approximately 50,000 client accounts of which approximately 27,000 accounts would be Qualified Accounts as defined by Ameritrade.(1) Ameritrade expects that the acquisition will be immediately accretive to its earnings. The purchase price will not exceed $26 million. The transaction is expected to close this summer, subject to regulatory approval and approval of JB Oxford Holdings, Inc. shareholders. As part of the transaction and prior to shareholder approval, Third Capital Partners, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control will convert its holdings of convertible notes of JB Oxford Holdings, Inc. with an aggregate principal amount of approximately $5.4 million into approximately 2 million shares of JB Oxford Holdings, Inc. common stock. Third Capital Partners, LLC has agreed to vote these shares in favor of the transaction, assuring approval by JB Oxford Holdings, Inc.'s shareholders. This transaction follows Ameritrade's recent acquisition of Bidwell & Company in January 2004 and acquisition of accounts from BrokerageAmerica in February 2004. "Participating in seven M&A deals in our industry since early 2001, we continue to prove our ability to identify valuable opportunities for clients and shareholders," said Joe Moglia Joe Moglia is the current CEO of TD Ameritrade, the largest online discount brokerage firm in the world. Born in Queens, New York, Moglia was a football coach for 16 years, finishing as a Dartmouth College assistant from 1981-1983. , chief executive officer of Ameritrade. About Ameritrade Holding Corporation Ameritrade Holding Corporation has a 29-year history of providing investment services to self-directed individuals. Ameritrade develops and provides innovative products and services tailored to meet the varying investing and portfolio management needs of individual investors and institutional distribution partners. A brokerage industry leader, Ameritrade, Inc.,(2) a subsidiary of Ameritrade Holding Corporation, was recently recognized as a J.D. Power and Associates Certified Call Center, the first in the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry. For more information, please visit www.amtd.com. About JB Oxford Holdings, Inc. JB Oxford Holdings, Inc. (Nasdaq:JBOH), through its JB Oxford & Company and National Clearing Corp. subsidiaries, provides clearing and execution services, and discount brokerage A discount brokerage is a business that charges clients significantly lower fees than traditional brokerages, typically offering comparatively fewer services and/or advice. services with access to personal brokers, online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. and cash management. The company's one-stop financial destination at www.jboxford.com was developed to be the easiest, most complete way for consumers to manage their money. The site features online trading, robust stock screening and portfolio tracking tools as well as up-to-the-minute market commentary and research from the world's leading content providers. JB Oxford has branches in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Minneapolis and Los Angeles. (1) Ameritrade defines a "Qualified Account" as an account with a total liquidation value Liquidation value Net amount that could be realized by selling the assets of a firm after paying the debt. greater than or equal to $2,000. (2) Ameritrade, Inc., member NASD/SIPC |
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