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: June 15, 1997
(Date of earliest event reported)
CITIZENS, INC.
(Exact name of registrant as specified in its charter)
COLORADO
(State or other jurisdiction of
incorporation)
0-16509 84-0755371
(Commission File Number) (IRS Employer
Identification Number)
400 East Anderson Lane
Austin, Texas 78752
(Address of principal (Zip Code)
executive offices)
(512) 837-7100
(Registrant's telephone number)
Item 1. Changes in Control of Registrant.
None.
Item 2. Acquisition or Disposition of Assets.
None.
Item 3. Bankruptcy or Receivership.
None.
Item 4. Certifying Accountants.
None.
Item 5. Other Events.
Effective June 15, 1997, Registrant terminated the
Regulation S offering of rights exercisable for shares of
Registrant's Class A Common Stock. As disclosed in previous
filings, these rights were offered to Citizens Insurance Company
of America ("CICA") policyholders who are neither U.S. citizens
nor residents. All unexercised rights will expire on October 31,
1997.
Item 6. Resignations of Registrant's Directors.
None.
Item 7. Financial Statements and Exhibits.
None.
Item 8. Change in Fiscal Year.
None.
Item 9. Sales of Equity Securities Pursuant to Regulation S
As previously disclosed in Registrant's filings with the
Commission, under Regulation S purchase rights are granted to
Citizens Insurance Company of America ("CICA") policyholders who
are neither U.S. citizens nor residents. Certain purchase rights
were exercised for the issuance of Registrant's Class A Common
Stock, no par value, as follows under Regulation S:
No. of Proceeds
Date Shares1 Total Price2 Commissions3 to
Registrant
6/20/97 1,900 $ 14,250.00 $ 1,781.25 $ 12,468.75
_____________________
1 The shares are issued subject to a contractual three-year
holding period.
2 All dollar amounts are reported in US dollars.
3 Payable to CINN-A-CORP., a Panamanian corporation, as managing
agent.
SIGNATURE
Pursuant to the requirement of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed
on Registrant's behalf by the undersigned, duly authorized and
empowered officer of the Registrant.
CITIZENS, INC.
By:/s/ Mark A. Oliver
Mark A. Oliver,
President
Date: June 20, 1997
