<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) January 22, 1999
THE LOEWEN GROUP INC.
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C> <C>
British Columbia, Canada 0-18429 98-0121376
------------------------------- ------------------------ ---------------------------------
(State or other jurisdiction of (Commission File Number) (IRS Employer Identification No.)
incorporation)
</TABLE>
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 The Loewen Group Inc. Press Release dated January 22, 1999
</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: January 22, 1999
THE LOEWEN GROUP INC.
By: /s/ Bradley D. Stam
-------------------------------------
Name: Bradley D. Stam
Title: Senior Vice President, Law
<PAGE> 3
EXHIBIT INDEX
<TABLE>
<CAPTION>
Sequential
Number Exhibit Page Number
- ------ ------- -----------
<S> <C> <C>
99 The Loewen Group Inc. 4
Press Release dated January 22, 1999
</TABLE>
<PAGE> 1
THE LOEWEN GROUP INC.
(NYSE, TSE, ME: LWN)
NEWS
Contact:
Thomas C. Franco
Broadgate Consultants, Inc.
Tel: (212) 232-2222
FOR IMMEDIATE RELEASE
LOEWEN BOARD NAMES SEASONED OPERATING EXECUTIVE
JOHN S. LACEY TO CHAIRMAN POST
- New Chairman To Work With Special Committee In Carrying Out Value
Maximization Process
- Deadline For Asset Sales Extended To Accommodate Strong Interest
--------------------------------------------------------
VANCOUVER, BC, January 22, 1999 -- The Loewen Group Inc. (NYSE, TSE, MSE: LWN)
announced today that its Board of Directors has appointed John S. Lacey as
non-executive Chairman effective immediately. Mr. Lacey was named to the Board
of Directors on December 13, 1998 and was first recommended to the Board by CIBC
Wood Gundy Incorporated, which beneficially owns approximately 13.6 percent of
the Company's Common Stock. He is a seasoned executive with a record of bringing
about operational improvements and profitable change in the organizations that
he has led. Over the last several years, he has been particularly active helping
companies to achieve value maximization strategies for their shareholders.
Robert B. Lundgren remains President and Chief Executive Officer of the Company.
<PAGE> 2
Speaking on behalf of the Board of Directors, Loewen Group director John N.
Turner, Chairman of the Special Committee of the Board of Directors, said, "John
Lacey is an extraordinarily talented leader and one of the most respected senior
executives in the Canadian business community. We believe his expanded role at
Loewen will strengthen the management team and provide added focus to the
Board's oversight of the Company."
Mr. Lacey remains a member of the Loewen Group's Special Committee and will work
closely with the independent directors on the Special Committee to complete the
previously announced process of maximizing shareholder value. In addition, Mr.
Lacey will actively work with Mr. Lundgren and the rest of the management team
concerning operational decisions and capital structure management.
Mr. Lacey said, "I look forward to assisting management to maximize shareholder
value in a timely fashion. The Company is pursuing various options to achieve
the best returns for its shareholders, while also recognizing the needs of the
Company's other key financial constituencies, employees and stakeholders."
Thomas M. Taylor, President of TMI-FW, Inc., and a member of the Loewen Board of
Directors, said, "We are delighted that John Lacey has agreed to serve the
Company in this capacity. We are confident that he will play a significant role
working with the Special Committee in the process of maximizing shareholder
value. All options are being considered for this process, from restructuring to
a sale of the Company."
Mr. Lacey most recently served as President and Chief Executive Officer of The
Oshawa Group, which owns Agora Food Merchants and SERCA Foodservice Inc. From
1996 to 1998, he served as President and Chief Executive Officer of Western
International Communications Ltd. (WIC), a leading Canadian broadcast,
communications and entertainment company based in Vancouver. Mr. Lacey, a
graduate of the Harvard Business School, serves on the Board of Scott's
Restaurants Inc. and the Liquor Control Board of Ontario.
Separately, the Special Committee announced that in order to give the new
Chairman the opportunity to review information on the sale process, and as a
result of the large number of parties who have expressed an interest in
acquiring certain of the Company's cemetery and funeral home properties, the
time frame for the submission of formal bids has been extended. The Loewen Group
had previously announced that the possible sale of all or a portion of its
funeral home and cemetery assets are among the options being considered under
its process for maximizing shareholder value.
- more -
<PAGE> 3
The Loewen Group Inc. is the second largest funeral home and cemetery operator
in North America. The Company employs approximately 16,000 people and owns or
operates more than 1,100 funeral homes and over 500 cemeteries across the United
States, Canada and the United Kingdom. Over 90 percent of the Company's revenue
is derived from the United States.
The Loewen Group's website is located at http://www.loewengroup.com
# # #
