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EZCORP, Inc. Message Board

  • jgsgilbert jgsgilbert Oct 15, 2013 6:32 PM Flag

    From the 8K

    "Item 1.01 - Entry into a Material Definitive Agreement
    On October 9, 2013, EZCORP, Inc. (the "Company"), and Madison Park, LLC ("Madison Park"), a business and financial advisory firm wholly-owned by Phillip E. Cohen, the beneficial owner of all of the Company's outstanding Class B Voting Common Stock, agreed to extend the Company's engagement of Madison Park for an additional year (through September 30, 2014) on the same terms and conditions (including those relating to fees and expenses) as applicable to the fiscal 2013 engagement..............In exchange for those services, the Company will continue to pay Madison Park a retainer fee of $600,000 per month and will reimburse Madison Park for its out-of-pocket expenses incurred in connection with the engagement. "

    At least the fees didn't go up.

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    • The stationary management advisory fee is about the most owner-friendly action I recall since Mr Rotunda left. And the language noting that the fee is high in the range of comparable fees gives us a little hope that there won't be a catch-up jump next year.

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