Federal Life Group, Inc. Announces Filing of Form 15 to Suspend Reporting Obligations
RIVERWOODS, Ill., May 28, 2019 (GLOBE NEWSWIRE) -- Federal Life Group, Inc. (the “Company”) (OTCMKTS: FLFG), the holding company of Federal Life Insurance Company, today announced that it had voluntarily filed with the Securities and Exchange Commission a Form 15 to suspend its duty to file reports under Section 15(d) of the Securities Exchange Act of 1934 (the “Act”). The Company expects the suspension of its reporting obligations under Section 15(d) of the Act to become effective 90 days after filing the Form 15.
Previously, the Company’s common stock was voluntarily delisted from the Nasdaq Capital Market, with its last trading day on April 12, 2019. Following the delisting, on April 15, 2019, the Company’s common stock began trading on the OTC Pink Open Market (the “Pink Sheets”), a centralized electronic quotation service for over-the-counter securities, under the symbol “FLFG”. Such quotation will continue so long as market makers demonstrate an interest in trading in the Company’s common stock; however, the Company can give no assurance that trading in its common stock will continue on the Pink Sheets or any other securities exchange or quotation medium. Further, trading of the Company’s common stock on the Pink Sheets may be restricted depending on the jurisdiction in which potential purchasers or sellers of shares reside.
When used in this Press Release, the words or phrases “expects” or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties including, but not limited to, changes in economic conditions in the Company's market area, changes in policies by regulatory agencies and other risks described in the Company's filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company advises readers that the factors listed above could affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revision which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
William S. Austin
President and Chief Executive Officer