Cash America Authorized to Repurchase Shares.FORT WORTH, Texas--(BUSINESS WIRE)--Jan. 22, 1997--The Board of Directors of Cash America International, Inc. (NYSE NYSE See: New York Stock Exchange : PWN In gaming, to trounce an opponent. To be "pwned" is to be defeated unmercifully. Pronounced "pone," "pwen," "pawn" or "pun," the derivation of the term is obscure. Some believe it came from a common typo of "own" because the o and p keys are next to each other. ) has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: the purchase of up to one million shares of Cash America common stock on the open market. The amount and prices paid for any share purchases will be based on market activities at the time of the purchase in compliance with relevant securities guidelines and procedures. As of Dec. 31, 1996, there were approximately 24.3 million shares of Cash America common stock outstanding. Jack R. Daugherty, chairman and chief executive officer of Cash America International, Inc., said, "The share repurchase Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. program has been approved because the board and the management team are confident that Cash America can pursue its growth strategies from existing financial resources and cash flows." Repurchased shares will be held as treasury stock for general corporate purposes. Cash America International, Inc. is the market leader in the specialty finance segment of secured non-recourse loans to individuals, commonly known as pawn loans. The company operated 382 pawnshops world-wide as of Dec. 31, 1996, with 334 locations in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , 37 in the United Kingdom and 11 in Sweden. CONTACT: Cash America International, Inc. Thomas A. Bessant Jr. or Daniel R. Feehan, 817/335-1100 KEWYORD: TEXAS INDUSTRY KEYWORD: BANKING RETAIL REPEATS: 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 212-752-9600 or 800-221-2462; Boston 617-236-4266 or |
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