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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
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PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 3, 1996
Champion Financial Corporation
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(Exact Name of Registrant as Specified in its Charter)
UTAH 0-19499 88-0169547
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification no.)
19 HILLSYDE COURT, COCKEYSVILLE, MARYLAND 21030
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (410) 628-0040
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ITEM 5. OTHER EVENTS
MPLC, Inc. a wholly-owned subsidiary of the Company has recently
acquired 560,000 shares of the common stock of Hayes Incorporated ("Hayes").
Hayes is a privately held company engaged in the business of health care
technology assessments that publishes The HAYES Directory of New Medical
Technologies Status and The HAYES Directory Legal Precedent Reports. MPLC paid
$350,000, for the shares.
MPLC has agreed to acquire an additional 1,040,000 shares on or before
February 15, 1997, which will give it a total Hayes holding of 1,600,000 shares
constituting 40% of Hayes' outstanding shares.
In addition, the Company has entered into an agreement to acquire all
of the outstanding shares of National Health Benefits & Casualty, Corp ("NHBC")
on or before December 31, 1996. NHBC, through subsidiaries, operates a
national managed care organization and provides related services and products
designed to reduce the costs of medical care. It markets these services and
products to insurance companies, self-insured businesses which maintain
employee medial benefits plans, and third parties who administer employee
medical plans for such employers. Upon the closing of the acquisition, Mr.
Paul Caliendo will become CEO of the Company and Mr. Stephen Carder will become
the Company's president. Messrs. Caliendo and Carder are presently the sole
shareholders of NHBC.
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.
CHAMPION FINANCIAL CORPORATION
By
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Marcy M. Engelbrecht
President and Chief Executive Officer
DATE: December 17, 1996
