-----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, EJ0C5lim1Iaswoty/6/7RhqwVBCJXPEQd+y8JZ7p/vRF7sLbCS15KikK1xd4p0Mx smBZNHOVbmyxEhkR9+Oxmg== 0000035733-03-000010.txt : 20030303 0000035733-03-000010.hdr.sgml : 20030303 20030303171013 ACCESSION NUMBER: 0000035733-03-000010 CONFORMED SUBMISSION TYPE: DEFA14A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20030303 EFFECTIVENESS DATE: 20030303 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FINANCIAL INDUSTRIES CORP CENTRAL INDEX KEY: 0000035733 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 742126975 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 000-04690 FILM NUMBER: 03589991 BUSINESS ADDRESS: STREET 1: LEGAL DEPARTMENT STREET 2: 6500 RIVER PLACE BLVD., BUILDING ONE CITY: AUSTIN STATE: TX ZIP: 78730 BUSINESS PHONE: 512 404-5000 MAIL ADDRESS: STREET 1: 6500 RIVER PLACE BLVD., BUILDING ONE STREET 2: LEGAL DEPARTMENT CITY: AUSTIN STATE: TX ZIP: 78730 FORMER COMPANY: FORMER CONFORMED NAME: GOLDEN UNITED INVESTMENT CO DATE OF NAME CHANGE: 19730801 FORMER COMPANY: FORMER CONFORMED NAME: ILEX CORP DATE OF NAME CHANGE: 19730801 FORMER COMPANY: FORMER CONFORMED NAME: GOLDEN UNITED INVESTMENT CO STOCK PLAN DATE OF NAME CHANGE: 19731128 DEFA14A 1 fic14a.txt FIC 14A FILED ON 03/03/03 SCHEDULE 14A SOLICITING MATERIAL - RULE 14A-12 Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant [X] Filed by a Party other than the Registrant [ ] Check the appropriate box: [ ] Preliminary Proxy Statement [ ] Definitive Proxy Statement [ ] Definitive Additional Materials [X] Soliciting Material Pursuant to or Rule 14a-12 [ ] Confidential, for Use of the Commision Only (as permitted by Rule 14a-6(e) (2)) Financial Industries Corporation - -------------------------------------------------------------------------------- (Name of Registrant as Specified in its Charter) - -------------------------------------------------------------------------------- (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant) Payment of Filing Fee (Check the appropriate box): [X] No fee required. [ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(l) and 0-11. (1) Title of each class of securities to which transaction applies: - -------------------------------------------------------------------------------- (2) Aggregate number of securities to which transaction applies: - -------------------------------------------------------------------------------- (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): - -------------------------------------------------------------------------------- (4) Proposed maximum aggregate value of transaction: - -------------------------------------------------------------------------------- (5) Total fee paid: - -------------------------------------------------------------------------------- [ ] Fee paid previously with preliminary materials: - -------------------------------------------------------------------------------- [ ] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of its filing. (1) Amount previously paid: - -------------------------------------------------------------------------------- (2) Form, Schedule or Registration Statement No.: - -------------------------------------------------------------------------------- (3) Filing Party: - -------------------------------------------------------------------------------- (4) Date Filed: - 1 - This filing is being made pursuant to Rule 14a-12 under the Securities Exchange Act of 1934, as amended. The Company issued the following information in a press release on March 2, 2003. FINANCIAL INDUSTRIES CORPORATION ANNOUNCES COMPANY IS NOT FOR SALE AUSTIN, Texas - (BUSINESS WIRE) - March 2, 2003 - Upon review of the recommendations of its appointed Special Committee, the Board of Directors of Financial Industries Corporation (FIC) today authorized overwhelmingly the implementation of the business plan of the company's new management team over any other strategic alternative. "The Special Committee made its recommendations to the Board based on various factors, including the data provided by the investment bankers, Solomon Smith Barney," said Richard Kosson, chairman of the Special Committee. "We determined it is in the best interests of FIC shareholders to allow our new management to implement its business plan for the company. The new plan is designed to pursue profitable growth opportunities and may include marketing alliances, distribution relationships, joint ventures and selective acquisitions that would enhance the growth and profitability of its core insurance businesses." The members of the Special Committee retained the investment banker at the end of January to perform a valuation analysis of FIC and to explore other strategic alternatives. Among the alternatives considered were a sale of the company consistent with recent unsolicited indications of interest in FIC and various management alternatives including: an increased operating efficiency strategy; a growth through acquisitions strategy; and a marketing alliances strategy. Through an exhaustive study of all business projections and financial assumptions, it was determined that pursuing any, or all, of the management plan was more advantageous to shareholder value than the sale, merger, or consolidation of the company. The vote of the Board was 10 to 1 in favor of accepting the recommendations of the Special Committee and included the unanimous support of all 5 independent directors. "The Board has expressed a confidence in the people and management of FIC with this vote," said Eugene E. Payne, President, CEO and Chairman of the Board. "As we continue to implement our growth plan, we look forward to sharing more details of our plan with shareholders." FIC, through its various subsidiaries, markets and underwrites individual life insurance and annuity products. For more information on FIC, go to http://www.ficgroup.com - 2 - Cautionary Statement Regarding Forward-Looking Information The following release contains certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to risks, uncertainty and changes in circumstances, which may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. All statements contained herein that are not clearly historical in nature are forward looking and the words "anticipate," "believe," "expect," "estimate," "project," and similar expressions are generally intended to identify forward-looking statements. The forward-looking statements in this release include statements addressing future financial condition and operating results. Economic, business, competitive and/or regulatory factors affecting the Company's businesses are examples of factors, among others, that could cause actual results to differ materially from those described in the forward-looking statements. More detailed information about these and other factors is set forth in the Company's Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2001, and its other filings with the SEC. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. Important Additional Information Will Be Filed with the SEC The Company plans to file with the Securities and Exchange Commission (the "SEC") and mail to its shareholders a Proxy Statement in connection with the Company's 2003 annual meeting of shareholders. The Proxy Statement will contain important information about the Company and the matters to be voted on at the annual meeting. Shareholders are urged to read the Proxy Statement carefully when it becomes available. Shareholders will be able to obtain free copies of the Proxy Statement and other documents filed with the SEC by the Company through the web site maintained by the SEC at www.sec.gov. In addition, shareholders will be able to obtain free copies of the Proxy Statement from the Company by contacting Bob Bender, the Company's director of investor relations, at 512-404-5080. Participant Information The Company and certain of its directors, director nominees and executive officers may be deemed to be participants in the solicitation of proxies in respect of the annual meeting and the matters to be voted on at such meeting. Information regarding the Company's directors, director nominees and executive officers may be obtained by reading the Company's Annual Report on Form 10-K for the year ended December 31, 2001 and its definitive proxy statement filed April 29, 2002 in connection with the Company's annual meeting of shareholders held on June 4, 2002. Additional information regarding the participants in the solicitation may be obtained by reading the Proxy Statement in connection with the Company's 2003 annual meeting of shareholders when it becomes available. - 3 - -----END PRIVACY-ENHANCED MESSAGE-----