-----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, GFzOr+/rZh6lAb4q/kOi9AAGgYc1bWCMFiKzE9yyluLnVNj9nEj26mXaOzDPRNpV ZC8OAy0wtQcvBgNX9uzB2g== 0000891020-99-000349.txt : 19990303 0000891020-99-000349.hdr.sgml : 19990303 ACCESSION NUMBER: 0000891020-99-000349 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990301 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990302 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LOEWEN GROUP INC CENTRAL INDEX KEY: 0000845577 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PERSONAL SERVICES [7200] IRS NUMBER: 980121376 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-12163 FILM NUMBER: 99555166 BUSINESS ADDRESS: STREET 1: 4126 NORLAND AVE CITY: BURNABY BC CANADA V5 STATE: A1 ZIP: V5G 3S8 BUSINESS PHONE: 6042999321 MAIL ADDRESS: STREET 1: 4126 NORLAND AVE STREET 2: BRITISH COLUMIA CITY: BURNABY V5G 3S8 STATE: A1 8-K 1 CURRENT REPORT DATED MARCH 1, 1999 1 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) March 01, 1999 THE LOEWEN GROUP INC. (Exact name of registrant as specified in its charter)
British Columbia, Canada 0-18429 98-0121376 - ------------------------------- ----------------------- ------------------------------ (State or other jurisdiction of (Commission File Number) IRS Employer Identification No.) incorporation)
4126 Norland Avenue, Burnaby, British Columbia V5G 3S8 - ------------------------------------------------------------------------------- (Address of principal executive offices) (zip code) Registrant's telephone number, including area code 604-299-9321 ------------ N/A ---------------------------------------- (Former name or former address, if changed since last report) Exhibit Index is on page 3 Page 1 of 6 2 ITEM 5. OTHER EVENTS. Pursuant to Form 8-K, General Instructions F, registrant hereby incorporates by reference the press release attached hereto as Exhibit 99. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
Exhibit No. Description Exhibit 99 The Loewen Group Inc. Press Release dated March 01, 1999
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: March 5, 1999 THE LOEWEN GROUP INC. By: /s/ BRADLEY D. STAM -------------------------------- Name: Bradley D. Stam Title: Senior Vice President, Law 3 EXHIBIT INDEX
Sequential Number Exhibit Page Number - ------ ------- ------------ 99 The Loewen Group Inc. 4 Press Release dated March 1, 1999
EX-99 2 PRESS RELEASE 1 [THE LOEWEN GROUP INC. LETTERHEAD] (NYSE, TSE, ME: LWN) NEWS Contact: Thomas C. Franco Broadgate Consultants, Inc. Tel: (212) 232-2222 FOR IMMEDIATE RELEASE LOEWEN GROUP ANNOUNCES CEMETERY ASSET SALE TO INVESTOR GROUP FOURTH QUARTER RESULTS UPDATE _________________________________________ VANCOUVER, BC, March 1, 1999 -- The Loewen Group (NYSE, TSE, MSE: LWN) announced today a definitive agreement to sell certain cemetery properties to an investor group led by McCown De Leeuw & Co., a private investment firm specializing in buying and building middle market companies in partnership with management. The transaction is valued at approximately $193 million. Commenting on today's announcement, John S. Lacey, Chairman of the Board said: "Loewen is embarked on a two-pronged strategy to maximize shareholder value. First, we are taking steps to improve profitability and reduce negative cash flow from operations. The second initiative, which is reflected in today's announcement, includes selective asset sales to reduce debt. Loewen continues discussions with other interested parties concerning additional asset sales." 2 The transaction includes 124 cemetery properties in Connecticut, Delaware, Maryland, New Jersey, Pennsylvania, Rhode Island, Virginia and West Virginia, as well as three funeral homes located on cemeteries involved in the sale. The transaction, which is subject to certain closing conditions, is expected to close by April. In addition to McCown De Leeuw & Co., the investor group includes former Loewen executives Lawrence Miller and William R. Shane. In addition, Loewen announced that it expects to report its fourth quarter and full-year 1998 financial results in late March. Based on preliminary information, Loewen expects to report an operating loss for the quarter. The Company also said it expects to incur substantial charges related to the strategic process, the closing of the Philadelphia accounting office, this asset sale and continued examination of the Company's assets in light of its current operating and asset reduction strategies. The Company also noted that its effective tax rate on operating earnings may increase in 1999 and will likely further increase in 2000 and later years due to the cessation of the Company's acquisition program, recent operating results and the effect of any asset sales. The Loewen Group Inc. is the second largest funeral home and cemetery operator in North America. The Company employs approximately 16,000 people and owns or operates more than 1,100 funeral homes and over 500 cemeteries across the United States, Canada and the United Kingdom. Over 90 percent of the Company's revenue is derived from the United States. The Loewen Group's website is located at http://www.loewengroup.com # # # -----END PRIVACY-ENHANCED MESSAGE-----