Standard Register Completes Reverse Stock Split
09 Maio 2013 - 12:23PM
Business Wire
Standard Register (NYSE: SR) announced today that it has filed a
Certificate of Amendment to its Amended Articles of Incorporation
to effect a 1-for-5 reverse stock split for both common stock and
Class A stock. The Company anticipates that the common stock will
begin trading on a split-adjusted basis on the New York Stock
Exchange (NYSE) at the opening of trading on May 10, 2013. The
reverse split will not change the value of the shareholder
investment but there can be no assurance that the newly established
opening bid can be maintained over time.
As a result of the reverse stock split, every five shares of
common and Class A stock will convert to one share. The Company’s
outstanding shares have been reduced to approximately 5,232,908
common shares and 945,000 Class A shares. The number of authorized
shares and the par value per share will remain unchanged. No
fractional shares will be issued in connection with the reverse
stock split. The Company’s transfer agent, Broadridge Corporate
Issuer Solutions, Inc., will manage the reverse split process. More
information is available in the proxy statement filed by the
Company on March 21, 2013.
The reverse stock split was approved by the Company’s
shareholders at the April 25, 2013 annual meeting, with
approximately 90 percent of outstanding shares voted in favor of
the amendment. The reverse split provides for the company to regain
compliance with the $1.00 minimum closing bid requirement for
listing on the NYSE.
Standard Register is executing its strategy of helping many of
the largest organizations and healthcare providers communicate with
their customers, employees and partners via a variety of printed
materials and technology-enabled solutions delivered across
multiple channels. The Company is implementing a transformation as
the landscape for business and healthcare communications evolves to
digital and electronic platforms.
About Standard Register
Standard Register (NYSE:SR), celebrating 100 years of
innovation, is trusted by the world’s leading companies to advance
their reputations by aligning communications with corporate
standards and priorities. Providing market-specific insights and a
compelling portfolio of solutions to address the changing business
landscape in healthcare, financial services, commercial and
industrial markets, Standard Register is the recognized leader in
the management and execution of mission-critical communications.
More information is available at
http://www.standardregister.com.
Safe Harbor Statement
This press release contains forward-looking statements covered
by the Private Securities Litigation Reform Act of 1995. Because
such statements deal with future events, they are subject to
various risks and uncertainties and actual results could differ
materially from the Company’s current expectations.
Factors that could cause the Company’s results to differ
materially from those expressed in forward-looking statements
include, without limitation, our access to capital for expanding in
our solutions, the pace at which digital technologies and
electronic health records (EHR) adoption erode the demand for
certain products and services, the success of our plans to deal
with the threats and opportunities brought by digital technology,
results of cost containment strategies and restructuring programs,
our ability to attract and retain key personnel, variation in
demand and acceptance of the Company’s products and services,
frequency, magnitude and timing of paper and other raw material
price changes, the timing of the completion and integration of
acquisitions, general business and economic conditions beyond the
Company’s control, and the consequences of competitive factors in
the marketplace, including the ability to attract and retain
customers. The Company undertakes no obligation to revise or update
forward-looking statements as a result of new information, since
these statements may no longer be accurate or timely. For more
information, see the Company’s most recent Form 10-K and other
filings with the Securities and Exchange Commission.
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