Cash Converters International Ltd (ASX:CCV) Completion of Settlement to Terminate Agency Agreements
Sydney, Dec 10, 2014 AEST (ABN Newswire) - Cash Converters International Ltd (
ASX:CCV) is pleased to announce that it has today settled the termination of the agency agreements with development agents Kentsleigh Pty Ltd and Cliffview Pty Ltd.
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.
About Cash Converters International Ltd
Cash Converters International (ASX:CCV) is a franchised retail network listed on the ASX. It specialises in the sale of second-hand goods. The Cash Converters group employs modern retailing practices, professional management techniques and high ethical standards to the management of its stores throughout the chain which appeal to a wide cross section of the community. As a result, Cash Converters has been able to position its outlets as credible retail merchandise stores, resulting in a profitable market for the group.
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