Citizens granted regulatory approval to purchase class b shares giving control back to the company

Austin, texas, april 16, 2021 /prnewswire/ -- citizens, inc. (nyse: cia) today announced that on april 12, 2021, final regulatory approval was granted, enabling the harold e. riley foundation (the "foundation") to transfer all of the class b common stock back to citizens, inc. as previously disclosed, on february 5, 2021, citizens, inc. entered into a purchase and sale agreement with the foundation to purchase 100% of the company's class b common stock from the foundation at an aggregate purchase price of $9,090,463.80 (the "class b transaction") which was paid on march 5, 2021.
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