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EX-99.1 - EXHIBIT99.1071013 - KINGSWAY FINANCIAL SERVICES INCexhibit991071013.htm


UNITED STATES
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): July 8, 2013
 
KINGSWAY FINANCIAL SERVICES INC.
(Exact Name of Registrant as Specified in Its Charter)
 
Ontario, Canada
(State or Other Jurisdiction of Incorporation)
 
001-15204
(Commission File Number)
 
Not Applicable
 (IRS Employer Identification No.)
 
45 St. Clair Ave. West, Suite 400, Toronto, Ontario, Canada M4V 1K9 
(Address of Principal Executive Offices) (Zip Code)
 
Registrant's Telephone Number, Including Area Code: (416) 848-1171
 
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
 
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:
 
o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 







Item 7.01 REGULATION FD DISCLOSURE

On July 5, 2013, the Company entered into a non-binding letter of intent with Atlas Financial Holdings, Inc. (“Atlas”) to sell its holdings of Atlas preferred shares for 90% of liquidation value, or $16.2 million.

The parties will not be legally bound to this transaction until definitive agreements are executed.

The press release announcing the signing of the non-binding letter of intent is attached as Exhibit 99.1.

This Form 8-K includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are not historical facts, and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. Words such as “expects”, “believes”, “anticipates”, “intends”, “estimates”, “seeks” and variations and similar words and expressions are intended to identify such forward-looking statements. Such forward-looking statements relate to future events or future performance, but reflect Kingsway management's current beliefs, based on information currently available. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, including, without limitation, our potential inability to complete the proposed rights offering. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward looking statements, please refer to the section entitled “Risk Factors” in the Company's 2012 Annual Report on Form 10-K and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2013. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward looking statements whether as a result of new information, future events or otherwise.


Item 9.01
Financial Statements and Exhibits.
 Exhibit Number
Exhibits Description
99.1
News Release Dated July 8, 2013 - Kingsway Announces Signing of Non-Binding Letter of Intent to Sell its Holdings of Atlas Preferred Shares






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.
 
 
 
KINGSWAY FINANCIAL SERVICES INC.
 
 
 
 
 
July 10, 2013
By:
/s/ Larry G. Swets, Jr.
 
 
Larry G. Swets, Jr.
 
 
President and Chief Executive Officer





EXHIBIT INDEX
 
EXHIBIT
NUMBER
 
DESCRIPTION
 
 
 
99.1
 
News Release Dated July 8, 2013 - Kingsway Announces Signing of Non-Binding Letter of Intent to Sell its Holdings of Atlas Preferred Shares