UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of report (Date of earliest event reported): March 12, 2007 (March 12, 2007)
EMPLOYERS HOLDINGS, INC.
(Exact Name of Registrant as Specified in its Charter)
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NEVADA (State or Other Jurisdiction of Incorporation) |
001-33245 (Commission File Number) |
04-3850065 (I.R.S. Employer Identification No.) |
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9790 Gateway Drive (Address of Principal Executive Offices) |
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89521 (Zip Code) |
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Registrant's telephone number including area code: (888) 682-6671 | ||
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No change since last report (Former Name or Address, if Changed Since Last Report) | ||
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 8.01. Other Events.
On March 12, 2007, Employers Holdings, Inc. (the "Company") issued a press release announcing that the Company has distributed $462,988,115 in cash and 22,765,407 shares of common stock to the eligible members of its predecessor, EIG Mutual Holding Company, as consideration in its conversion which was completed in early February of this year. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
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99.1 |
Employers Holdings, Inc. press release, dated February 1, 2007. |
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SIGNATURE
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.
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EMPLOYERS HOLDINGS, INC | ||
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By: |
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/s/ William E. Yocke |
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Name: |
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William E. Yocke |
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Title: |
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Executive Vice President and Chief |
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Financial Officer |
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Dated: |
March 12, 2007 |
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Exhibit Index
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Exhibit No. |
Exhibit
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99.1 |
Employers Holdings, Inc. press release, dated March 12, 2007. |
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Exhibit 99.1
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March 12, 2007 |
For Immediate Release |
Employers Holdings, Inc. Announces Distribution of $850 Million in Cash and Stock Consideration to Eligible Members
March 12, 2007—Reno, NV—Employers Holdings, Inc. (NYSE: EIG) today announced that the Company has distributed $462,988,115 in cash and 22,765,407 shares of common stock to the eligible members of its predecessor, EIG Mutual Holding Company, as consideration in its conversion which was completed in early February of this year. Using the initial public offering price of the common stock of $17 per share, the total value of the consideration distributed to the Company's eligible Nevada policyholders was $850 million. (On Friday, March 9, 2007, the closing price of the common stock on the New York Stock Exchange was $20.12.)
Employers Holdings, Inc. recently completed a demutualization and initial public offering of its stock pursuant to a Plan of Conversion filed by the Company and approved by the Commissioner of Insurance of the State of Nevada and the members of EIG Mutual Holding Company. The Plan provided that eligible members would receive consideration in the form of cash or stock in exchange for the extinguishment of their membership interests in the mutual holding company. Eligible members can expect to receive their distributions within the next several days.
Douglas D. Dirks, President and CEO of Employers Holdings, Inc. said, “We’re proud to announce this major milestone in our Company’s history. Nevada policyholders have reaped the rewards of being members in this specialty writer of workers’ compensation. By distributing over $850 million in value to our members and into the economy of the State of Nevada, EMPLOYERSSM has demonstrated its history of success.”
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CONTACT: |
Ann Nelson, Executive Vice President, Corporate & Public Affairs, anelson@employers.com. | |
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Vicki Erickson, Investor Relations Director, verickson@employers.com. |
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This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State. This press release contains certain forward-looking statements. Forward-looking statements include statements regarding the market for the stock and anticipated future results and can be identified by the fact that they do not relate strictly to historical or current acts. They often include words like “believe”, “expect,” “anticipate,” “estimate” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.” Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business of EMPLOYERS and its subsidiaries.
Copyright © 2007 EMPLOYERS. All rights reserved. EMPLOYERS is a service mark and trade name for a group of companies which provide workers’ compensation insurance and services. Insurance is offered through Employers Compensation Insurance Company, except in Nevada, where insurance is offered through Employers Insurance Company of Nevada. Employers Compensation Insurance Company does not do business in all jurisdictions.
tel 775 327-2700 | 9790 GATEWAY DRIVE | RENO, NEVADA 89521-5906 | www.employers.com