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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report:
October 14, 1998
AMERIN CORPORATION
(Exact name of registrant as specified in its charter)
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Delaware 0-27146 11-3085148
(State of other jurisdiction (Commission (IRS Employer
of incorporation) File no.) Identification No.)
200 E. Randolph Drive, 49th Floor 60601-7125
Chicago, IL (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (312) 540-0078
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(Former name or former address, if changed since last report.)
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Item 5. Other Events.
See the attached press release dated October 8, 1998.
SIGNATURE
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 thereunto duly authorized.
AMERIN CORPORATION
By: /s/ Roy J. Kasmar
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Name: Roy J. Kasmar
Title: President
October 14, 1998
EXHIBIT 99.1
Amerin Corporation Adopts Stockholder Rights Plan
Chicago, IL -- October 8, 1998 Amerin Corporation (NASDAQ:AMRN)
announced today that its Board of Directors has adopted a Stockholder Rights
Plan.
Under the plan, Rights will be distributed as a dividend at the rate
of one Right for each share of common stock held by stockholders of record at
the close of business on October 20, 1998. Each Right will entitle the holder
to purchase, upon the occurrence of certain events, one one-hundredth of a
share of preferred stock for $105.
The Rights generally will be exercisable only if a person or group
acquires beneficial ownership of 15% or more of the Company's common stock, or
commences a tender or exchange offer that, upon consummation, would result in a
person or group owning 15% or more of the Company's common stock.
Under certain circumstances, the new Rights are redeemable at a price
of $0.01 per right. The Rights will expire on October 7, 2008.
Amerin provides private mortgage insurance to leading mortgage
originators. The company's products are discount Borrower-Paid Mortgage
Insurance and Lender-Paid Mortgage Insurance. Amerin's approach to sales and
underwriting reduces the cost of its insurance and offers operating
efficiencies to mortgage lenders and their borrowers. Home buyers who make down
payments of less than 20 percent of the value of the home are usually required
by the mortgage lender to qualify and pay for mortgage insurance on their
mortgage loans. If the homeowner defaults on the loan, mortgage insurance pays
the lender or the owner of the loan for its losses up to a specified coverage
amount.
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