NORWALK, Conn.--(BUSINESS WIRE)--
Frontier Communications Corporation (NASDAQ:FTR) announced today that,
following stockholder approval of the reverse stock split proposal at
Frontier’s May 10, 2017 Annual Meeting, Frontier’s Board of Directors
has determined to effect the reverse stock split of the issued shares of
common stock at a ratio of one share for fifteen shares. The reverse
stock split will be effective as of the beginning of trading on Monday,
July 10, 2017. In addition, and at the same time, the total number of
shares of common stock that Frontier is authorized to issue will change
from 1,750,000,000 shares to 175,000,000 shares.
Stockholders who hold their shares in brokerage accounts or "street
name" will not be required to take any action to effect the exchange of
their shares. Holders of share certificates will receive instructions
from Frontier’s transfer agent, Computershare Investor Services,
regarding the process for exchanging their shares. Computershare
Investor Services can be reached at (877) 770-0496 or http://www-us.computershare.com/investor/contact.
About Frontier Communications
Frontier Communications Corporation (NASDAQ:FTR) is a leader in
providing communications services to urban, suburban, and rural
communities in 29 states. Frontier offers a variety of services to
residential customers over its fiber-optic and copper networks,
including video, high-speed internet, advanced voice, and Frontier Secure®
digital protection solutions. Frontier Business Edge™ offers
communications solutions to small, medium, and enterprise businesses.
More information about Frontier is available at www.frontier.com.
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Frontier Communications Corporation
Investors:
Luke
Szymczak, 203-614-5044
Vice President, Investor Relations
luke.szymczak@ftr.com
or
Media:
Brigid
Smith, 203-614-5042
AVP, Corp. Comm.
brigid.smith@ftr.com
Source: Frontier Communications Corporation