<PAGE> 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 5, 1997
THE LOEWEN GROUP INC.
(Exact name of registrant as specified in its charter)
British Columbia, Canada 0-18429 98-0121376
-------------------------- -------------------- ----------------
(State or other (Commission File Number) (IRS Employer
jurisdiction of incorporation) Identification No.)
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
<PAGE> 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.
<TABLE>
<CAPTION>
Exhibit No. Description
----------- -----------
<S> <C>
Exhibit 99-1 The Loewen Group Inc. Press Release dated June 05, 1997
Exhibit 99-2 The Loewen Group Inc. Press Release dated June 09, 1997
</TABLE>
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: June 10, 1997
THE LOEWEN GROUP INC.
By: /s/Peter S. Hyndman
---------------------------------
Name: Peter S. Hyndman
Title: Corporate Secretary
<PAGE> 3
EXHIBIT INDEX
<TABLE>
<CAPTION>
Sequential
Number Exhibit Page Number
- ------ ------- -----------
<S> <C> <C>
99-1 The Loewen Group Inc. 4
Press Release dated June 05, 1997
99-2 The Loewen Group Inc. 5
Press Release dated June 09, 1997
</TABLE>
<PAGE> 1
Tel: (800) 347-7010 Corp. Communications
Tel: (604) 293-7857
THE LOEWEN GROUP INC. EXHIBIT 99-1
(NYSE, TSE, ME: LWN) NEWS
FOR IMMEDIATE RELEASE
THE LOEWEN GROUP CHAIRMAN & CEO INCREASES SHARE OWNERSHIP
VANCOUVER, BC, June 5, 1997 -- Raymond L. Loewen, Chairman and Chief Executive
Officer of The Loewen Group Inc., announced today that he has acquired 500,000
Common shares of the Company from a public offering of 12,000,000 Common shares
at a price to the public of $33 US. As a result, he, together with his wife Anne
Loewen, beneficially own an aggregate of 8,837,381 Common shares of The Loewen
Group Inc.
Mr. Loewen has options to acquire a further 1,492,935 Common shares. Under the
Company's Management Equity Investment Plan, he has in aggregate, rights to
acquire 2,000,000 common shares starting in 1999.
The purpose of this purchase is for investment purposes. Mr. Loewen intends to
hold these shares, and may make additional purchases in the future.
With corporate offices in Vancouver, Cincinnati and Philadelphia, The Loewen
Group Inc. is the second largest and fastest growing funeral home and cemetery
operator in North America in terms of revenues and assets. The Company employs
approximately 17,000 people and owns or operates approximately 1,000 funeral
homes and over 370 cemeteries across the Untied States and Canada. Over 90%
<PAGE> 2
of the Company's revenue is derived from the United States.
- 30 -
<PAGE> 1
Corp. Communications
Tel: (604) 293-7857 Tel: (800) 347-7010
THE LOEWEN GROUP INC. EXHIBIT 99-2
(NYSE, TSE, ME: LWN) NEWS
FOR IMMEDIATE RELEASE
LOEWEN GROUP UNDERWRITERS
EXERCISE OVER-ALLOTMENT OPTION
Gross Proceeds in Equity Offering Increase from
$396 Million to $455 Million
VANCOUVER, BC, June 9, 1997 -- The Loewen Group Inc. today announced that the
underwriters of its recent equity offering have exercised their over-allotment
option in full to purchase an additional 1.8 million Common shares from Loewen.
On May 29, 1997 the offering had been increased from 10 million to 12 million
Common shares and priced at $33 per share. The exercise of the over-allotment
option further increases the gross proceeds of the offering to $455 million.
Net proceeds from the offering will be used for working capital and general
corporate purposes, including acquisitions. Pending use for such purposes, the
net proceeds will be used to reduce borrowings.
The offering was managed by Smith Barney Inc. and Nesbitt Burns Inc.
"The success of this offering and the response of the investment community
reflects confidence in our business plan and provides the Company with more
flexibility to fund future growth," said Raymond L. Loewen, Chairman and Chief
Executive Officer.
Over the past several years, the company has successfully capitalized on the
favorable fundamentals of the funeral service industry by: acquiring a
significant
<PAGE> 2
number of small, family-owned funeral homes and cemeteries; acquiring
"strategic" operations consisting predominantly of large, multi-location urban
properties that generally serve as platforms for acquiring small, family-owned
businesses in surrounding regions; and improving the revenue and profitability
of newly-acquired and established locations. As a result of the successful
implementation of this strategy, the company has grown significantly. Over the
last five fiscal years, the company's revenues and earnings from operations have
grown at compound annual growth rates of 41.1% and 39.2%, respectively,
representing the highest such growth rates among the three largest public
funeral home and cemetery operators.
With corporate offices in Vancouver, British Columbia, Cincinnati and
Philadelphia, The Loewen Group Inc. employs approximately 17,000 people and owns
or operates more than 1,000 funeral homes and 370 cemeteries across the United
States and Canada. Approximately 94% of its 1996 consolidated revenue derived
from locations in the United States.
- 30 -
