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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
Report Date (Date of earliest event reported): December 15, 1997
FOREMOST CORPORATION OF AMERICA
(Exact name of registrant as specified in charter)
DELAWARE 0-6478 38-1863522
(State or other jurisdic- (Commission (IRS Employer
tion of incorporation) File Number) Identification
Number)
5600 BEECH TREE LANE, CALEDONIA, MICHIGAN 49316
MAILING ADDRESS: P.O. BOX 2450, GRAND RAPIDS, MICHIGAN 49501
(Address of principal executive offices) (Zip Code)
(616) 942-3000
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former name of former address, if changed since last report)
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Item 5. OTHER EVENTS.
On December 15, 1997, Foremost Corporation of America ("Foremost"
or the "Registrant") announced a three-for-one stock split of the company's
Common Stock payable on January 19, 1998 to stockholders of record at the
end of business on January 5, 1998.
On December 17, 1997, Foremost Corporation of America ("Foremost"
or the "Registrant") announced that its Board of Directors has authorized
the repurchase of up to an additional 1,000,000 shares of its common stock.
This authorization is in addition to the ongoing 2,000,000 share repurchase
authorization announced in February 1994, March 1996 and December 1996.
Under the previously approved repurchase authorization 1,762,238 shares
have been repurchased at an average price of $48.45 per share.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Exhibits: The following exhibits are furnished with this Form 8-K
Current Report:
EXHIBIT NO. DOCUMENT
99(a) Press Release of Foremost concerning stock split dated
December 15, 1997.
99(b) Press Release of Foremost concerning stock repurchase
program dated December 17, 1997.
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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.
FOREMOST CORPORATION OF
AMERICA
Date: December 17, 1997 By /S/F. ROBERT WOUDSTRA
F. Robert Woudstra
Executive Vice President and
Treasurer (Principal Financial
Officer)
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EXHIBIT INDEX
SEQUENTIALLY
EXHIBIT DOCUMENT NUMBERED PAGE
99(a) Press Release of Foremost concerning stock
split dated December 15, 1997. 5
99(b) Press Release of Foremost concerning stock
repurchase program dated December 17, 1997 6
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EXHIBIT 99(a)
FOR: Release at 8:30 a.m. CONTACT: F. Robert Woudstra
Monday, December 15, 1997 (616) 956-8218
FOREMOST CORPORATION OF AMERICA ANNOUNCES
THREE-FOR-ONE STOCK SPLIT
GRAND RAPIDS, Michigan, December 15, 1997 - Foremost Corporation of America
(NYSE: FOM) today announced a three-for-one stock split of the company's
Common Stock payable on January 19, 1998 to stockholders of record at the
end of business on January 5, 1998.
"The stock split reflects Foremost's recent strong financial and operating
performance and our confidence in the continued strong performance and
long-term financial future of our business," said Richard L. Antonini,
Foremost Chairman, President and Chief Executive Officer.
Foremost and its subsidiaries are engaged primarily in providing insurance
and financial services, nationwide, to the manufactured housing and
recreational vehicle industries.
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EXHIBIT 99(b)
FOR: Release at 9:00 a.m. CONTACT: F. Robert Woudstra
December 17, 1997 (616) 956-8218
FOREMOST CORPORATION OF AMERICA
ANNOUNCES INCREASED COMMON STOCK BUY-BACK PLAN
GRAND RAPIDS, MI - Foremost Corporation of America (NYSE - symbol FOM)
announced today that its Board of Directors has authorized the repurchase
of up to an additional 1,000,000 shares of its common stock. This
authorization is in addition to the ongoing 2,000,000 share repurchase
authorization announced in February 1994, March 1996 and December 1996.
Under the previously approved repurchase authorization 1,762,238 shares
have been repurchased at an average price of $48.45 per share.
The timing and price of any share purchases will be affected by the
availability of shares at prices the company considers attractive, and
market conditions. No assurance can be given that any stock purchases will
be consummated. Foremost currently has 9,233,624 shares of common stock
outstanding.
The subsidiaries of Foremost Corporation of America specialize in providing
property and casualty insurance for manufactured home and recreational
vehicle owners countrywide. Foremost has an A+ (Superior) rating from A.M.
Best and, in 1995, 1996 and 1997, was named one of the most financially
sound insurance companies in the country by Ward Financial Group.
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