-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Njx6tqQubH/jdA+CkHmcQpZNnVVkeSKj1hGSp1N3W7LBjOAKPrWiHtdWLrXwJACM FCfpxWPELVGgNYXgSYaIng== 0000912057-99-008263.txt : 19991207 0000912057-99-008263.hdr.sgml : 19991207 ACCESSION NUMBER: 0000912057-99-008263 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19991202 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19991206 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AAMES FINANCIAL CORP/DE CENTRAL INDEX KEY: 0000879957 STANDARD INDUSTRIAL CLASSIFICATION: LOAN BROKERS [6163] IRS NUMBER: 954340340 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-13660 FILM NUMBER: 99768954 BUSINESS ADDRESS: STREET 1: 350 SOUTH GRAND AVENUE STREET 2: 52ND FLOOR CITY: LOS ANGELES STATE: CA ZIP: 90071-3459 BUSINESS PHONE: 3232105000 MAIL ADDRESS: STREET 1: 3731 WILSHIRE BLVD 10TH FLOOR CITY: LOS ANGELES STATE: CA ZIP: 90010 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________ Form 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): December 2, 1999 AAMES FINANCIAL CORPORATION (Exact name of Registrant as Specified in Its Charter) Delaware 0-19604 95-340340 - ---------------------------- ------------ ------------------- (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 350 South Grand Avenue, 52nd Floor Los Angeles, California 90071 (Address of Principal Executive Offices) (323) 210-5000 ---------------------------------------------------- (Registrant's Telephone Number, Including Area Code) NA ------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) 1 ITEM 5. OTHER EVENTS Reference is made to the press release of Registrant issued on November 2, 1999 which contains information meeting the requirements of this Item 5 and is incorporated herein by this reference. A copy of the press release is attached to this Form 8-K as Exhibit 99. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (c) EXHIBITS 99 Press release issued December 2, 1999. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. AAMES FINANCIAL CORPORATION Dated: December 2, 1999 By: /s/ John F. Madden, Jr. ----------------------- John F. Madden, Jr. Assistant Secretary 3 EXHIBIT INDEX Exhibit No. Description of Exhibit - ----------- ---------------------- 99 Press release issued December 2, 1999 4 EX-99 2 EXHIBIT 99 EXHIBIT 99 [LOGO] FINANCIAL CORPORATION Contact: David Sklar Aames Financial Corporation (323) 210-5311 For Immediate Release AAMES FINANCIAL CORPORATION APPOINTS DAVID H. ELLIOTT TO THE BOARD OF DIRECTORS LOS ANGELES, CA., December 2, 1999 - Aames Financial Corporation (NYSE: AAM), a leader in subprime home equity lending, announced today that David H. Elliott has been appointed to the Board of Directors of the Company. The Company also announced that Mr. Elliott was appointed to the Audit Committee and the Stock Option Committee of the Board of Directors. Mr. Elliott has three decades of experience in the insurance and financial guarantee industries and is the chairman of the executive committee of the board of directors of MBIA, Inc. and the former chairman of the board and chief executive officer of MBIA, Inc. and its largest operating company, MBIA Insurance Corporation. "We are excited that David has joined the Board of Directors," said A. Jay Meyerson, the Company's Chief Executive Officer. "David brings valuable experience from the financial and insurance industries, as well as leadership abilities to Aames that will be useful in our effort to achieve our strategic objectives of positioning Aames as a prudent, profitable, and innovative leader in the home equity industry." In 1986, Mr. Elliott was appointed president and chief operating officer of MBIA, Inc. and was later appointed as a director. He became chief executive officer of MBIA, Inc. on January 1, 1992, and added the title of chairman two years later. Mr. Elliott relinquished the chief executive officer position in 5 January 1999 and the chairmanship in May 1999. Mr. Elliott remains as a member of the board of directors and the chairman of the executive committee of MBIA, Inc. "I look forward to working with the management team at Aames and playing an active role in the Company," said Mr. Elliott. "As a member of the Board of Directors and the Audit and Stock Option Committees, I hope to be able to contribute to the future success of the Company." Mr. Elliott will fill the vacancy created by the resignation of Neil B. Kornswiet from the Board on November 30, 1999. The Company also announced that Mr. Kornswiet is no longer employed by the Company. Aames Financial Corporation is a leading home equity lender that, as of September 30, 1999, operates 101 retail branches, and 35 broker offices, serving customers across the country. From time to time the Company may publish forward-looking statements relating to such matters as anticipated financial performance, business prospects and similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company's actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company's forward-looking statements. The risks and uncertainties that may affect the operations, performance and results of the Company's business include the following: negative cash flow and continued access to outside sources of cash to fund operations; third party rights to terminate mortgage servicing; high delinquencies and losses in our securitization trusts; dependence on funding sources; Year 2000 compliance and technological enhancements; prepayment risk; changes in interest rates; basis risk; prolonged interruptions or reductions in the secondary market for mortgage loans; timing of loan sales; dependence on broker network; competition; concentration of operations in California; economic conditions; contingent risks on loans we sell; government regulation; changes in federal income tax laws; our ability to pay dividends and the concentrated ownership of our controlling stockholder. For a more complete discussion of these risks and uncertainties, see "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations - Risk Factors" in the Company's Annual Report on Form 10-K and 10-K/A for the fiscal year ended June 30, 1999 and "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations - Risk Factors" in Form 10-Q for the quarter ended September 30, 1999, and subsequent Company Filings with the United States Securities and Exchange Commission. ### 6 -----END PRIVACY-ENHANCED MESSAGE-----