Business News

Standard Register Completes Reverse Stock Split

Friday 10. May 2013 - 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.