-----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, DWTfQZ6CfLOJzamV/krIOTt7U9pTF4jjhGQYkXnWVYuyF6ieYpSHzVUbZXdtC9Ly KGjTdTDsZH9spv37DGxiBw== 0000050982-99-000054.txt : 19990701 0000050982-99-000054.hdr.sgml : 19990701 ACCESSION NUMBER: 0000050982-99-000054 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19990630 ITEM INFORMATION: FILED AS OF DATE: 19990630 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INTERCONTINENTAL LIFE CORP CENTRAL INDEX KEY: 0000050982 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 221890938 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-07288 FILM NUMBER: 99656908 BUSINESS ADDRESS: STREET 1: THE AUSTIN CENTRE STREET 2: 701 BRAZOS 12TH FL CITY: AUSTIN STATE: TX ZIP: 78701 BUSINESS PHONE: 5124045050 MAIL ADDRESS: STREET 1: 701 BRAZOS STE 1400 STREET 2: ATTN KELLYE S SEEKATZ CITY: AUSTIN STATE: TX ZIP: 78701 FORMER COMPANY: FORMER CONFORMED NAME: INTERCONTINENTAL FINANCIAL CORP DATE OF NAME CHANGE: 19781019 FORMER COMPANY: FORMER CONFORMED NAME: INTERCONTINENTAL LIFE CO DATE OF NAME CHANGE: 19600201 8-K 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): June 29, 1999 INTERCONTINENTAL LIFE CORPORATION (Exact name of registrant as specified in its charter) Texas 0-7288 22-1890938 (State or other (Commission (I.R.S. Employer jurisdiction File Number) Identification No.) of incorporation) 701 Brazos, Suite 1400, Austin, Texas 78701 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (512) 404-5050 (Former name or former address, if changed since last report) Item 5. Other Events On June 29, 1999, InterContinental Life Corporation ("ILCO") announced that its Board of Directors has approved a stock repurchase plan. Under the plan, ILCO will be able to repurchase up to 5% of its issued and outstanding common stock in the open market or in "block" transactions, within the meaning of Rule 10b-18 under the Securities Exchange Act of 1934, as amended. In authorizing the repurchases, the Board of Directors intends that the plan will enhance the value of the Registrant's common stock and to manage its capital. The Board's action permits management to commence repurchases at its discretion and to continue making purchases , without further Board action, within the discretion of management. The plan contemplates that repurchases will be made in accordance with the provisions of Rule 10b- 18 of the Regulations issued under the Securities Exchange Act of 1934. A copy of the press release announcing the adoption of the stock repurchase plan is attached hereto as Exhibit 99. -2- 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. INTERCONTINENTAL LIFE CORPORATION By: /s/ James M. Grace James M. Grace Vice President and Treasurer Date: June 30, 1999 -3- EXHIBIT INDEX Exhibit No. Description 99 Press Release of the Registrant released on June 30, 199 -4- Exhibit 99 FOR IMMEDIATE RELEASE June 29, 1999 FOR MORE INFORMATION CONTACT Robert S. Cox 512-404-5128 INTERCONTINENTAL LIFE CORPORATION ANNOUNCES STOCK REPURCHASE PLAN AUSTIN, TEXAS -- InterContinental Life Corporation (ILCO) today reported that the Company's Board of Directors has adopted a stock repurchase plan. Under the plan, ILCO is authorized to repurchase shares up to 5% of its outstanding common stock at times deemed appropriate. Roy F. Mitte, Chairman, President and Chief Executive Officer stated that "The Board's action was based on its conclusion that the ability to repurchase stock under certain circumstances will assist the Company to enhance the value of its common stock for its shareholders and manage its capital. The Company intends to make all repurchases in compliance with applicable regulatory requirements and to administer the plan in accordance with applicable securities and other laws, including SEC Rule 10b-18. As of March 31, 1999, ILCO had assets of $1.3 billion, shareholders equity of $155.4 million and 8,791,516 shares outstanding. InterContinental Life Corporation, through its various subsidiaries, markets and underwrites individual life insurance and annuity products. The Company's NASDAQ symbol is ILCO. -5- -----END PRIVACY-ENHANCED MESSAGE-----