Citizens Inc. to Acquire First Investors Group.AUSTIN, Texas--(BUSINESS WIRE)--Sept. 15, 1998--Citizens Inc. (AMEX AMEX See: American Stock Exchange :CIA CIA: see Central Intelligence Agency. (1) (Confidentiality Integrity Authentication) The three important concerns with regards to information security. Encryption is used to provide confidentiality (privacy, secrecy). ) announced that a definitive agreement has been reached between Citizens Inc. ("Citizens") and First Investors Group Inc. ("Investors") of Springfield, Ill., wherein where·in adv. In what way; how: Wherein have we sinned? conj. 1. In which location; where: the country wherein those people live. 2. Citizens will acquire 100% of the outstanding shares of Investors for shares of Citizens Class A Common stock. The Citizens Class A Common stock will be offered through a prospectus. Investors is the parent of Excalibur Insurance Corporation, also of Springfield ("Excalibur"). Pursuant to the terms of the Agreement, which is subject to approval by Investors' shareholders and regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities , Citizens will issue one share of Citizens Class A Common stock for each 6.6836 shares of Investors common and preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. issued and outstanding. Citizens expects to issue approximately 610,000 shares of its Class A Common stock to consummate the transaction. CONTACT: Citizens Inc., Austin Mark A. Oliver, 512/837-7100 |
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