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): MARCH 15, 2003
CONSUMERS FINANCIAL CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Pennsylvania 0-2616 23-1666392
(State or Other Jurisdiction (Commission File No.) (I.R.S. Employer
of Incorporation) Identification No.)
1525 Cedar Cliff Drive, Camp Hill, Pennsylvania 17011
(Address of Principal Executive Offices) (Zip Code)
717-761-4230
(Registrants Telephone Number, Including Area Code)
FORM 8-K CURRENT REPORT
ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE
At a Special Meeting of Shareholders held on March 15, 2003, the common
shareholders of Consumers Financial Corporation (the Company) voted in favor of
the following proposals:
- An amendment to the Company's Articles of Incorporation to effect a 1
for 10 reverse stock split of the Company's common stock by reducing
the number of issued and outstanding shares of common stock from
5,276,810 shares to 527,681 shares.
- An amendment to the Company's Articles of Incorporation to authorize
50 million shares of capital stock of the Company, of which 40 million
shares will relate to common stock and 10 million shares will relate
to preferred stock (including the existing 632,500 shares of
convertible preferred stock, series A), subject to further designation
by the Board of Directors of the Company.
- An amendment to the Company's Articles of Incorporation to permit
action upon the written consent of less than all shareholders of the
Company, pursuant to section 2524 of the Pennsylvania Business
Corporation Law of 1988.
CFC Partners, Ltd. owns 51.2% of the outstanding common stock of the Company and
voted its shares in favor of each of the above proposals.
SIGNATURES
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.
CONSUMERS FINANCIAL CORPORATION
Registrant
Date: April 2, 2003 By /S/ Donald J. Hommel
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Donald J. Hommel
President and Chief Executive
Officer