AUSTIN, Texas, April 7, 2017 /PRNewswire/ -- Citizens, Inc.
(NYSE: CIA) today announced that, as a result of its failure to
timely file its Annual Report on Form 10-K for the fiscal year
ended December 31, 2016 (the "2016
Form 10-K"), it has received an expected notice from the New York
Stock Exchange (the "NYSE") that Citizens is not in compliance with
the NYSE's continued listing requirements under the timely filing
criteria established in Section 802.01E of the NYSE Listed Company
Manual.
As previously disclosed, the reason for the delay is the
continuing review needed by Citizens' independent registered public
accounting firm to complete the signoff of its audit of Citizens'
2016 financial statements and its review of the 2016 Form 10-K.
Citizens intends to file its 2016 Form 10-K as promptly as possible
after its independent registered public accounting firm completes
its review.
In accordance with NYSE rules, Citizens has contacted the NYSE
to discuss the status of the late filing and is issuing this
required press release. The NYSE informed Citizens that,
under NYSE rules, Citizens will have six months from the Form 10-K
due date of March 16, 2017 to file
the 2016 Form 10-K with the SEC. Citizens can regain compliance
with the NYSE listing standards at any time prior to that date by
filing its 2016 Form 10-K.
About Citizens
Citizens, Inc. is a financial services company listed on the New
York Stock Exchange under the symbol CIA. The Company utilizes a
three-pronged strategy for growth based upon worldwide sales of
U.S. Dollar-denominated whole life cash value insurance policies,
life insurance product sales in the U.S. and the acquisition of
other U.S.-based life insurance companies.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws. These forward-looking
statements reflect the Company's current beliefs, assumptions and
expectations regarding future events, which are based on
information currently available to us. Forward-looking
statements can generally be identified by words such as "may,"
"will," "plan," "expect," "project," "intend," "estimate,"
"anticipate," "believe" and "continue" or variations or similar
terminology. Such forward-looking statements in this press release
include the anticipated timing of the filing of the Company's
2016 Form 10-K. The forward-looking statements may involve
risks, uncertainties and other factors that could cause actual
results to differ materially from those indicated in these
statements. Please refer to the Company's filings with the
SEC, including among others the Company's Annual Report
on Form 10-K for the year ended December 31,
2015 and subsequent filings on Form 10-Q, for a
discussion of important risk factors. Forward-looking statements
speak only as of the date on which they are made. The Company
undertakes no obligation to update publicly or revise any
forward-looking statement, whether as a result of new information,
future developments or otherwise.
For further information contact:
Investor Relations
PR@citizensinc.com
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SOURCE Citizens, Inc.