R. R. Donnelley & Sons Company Completes its Separation Plan and Reverse Stock Split
On October 1, 2016, R.R. Donnelley & Sons Company (NYSE: RRD) (“RR Donnelley”) completed its previously announced tax-free spin-offs of its publishing and retail-centric print services and office products business, LSC Communications, Inc. (NYSE: LKSD) (“LSC”), and its financial communications and data services business, Donnelley Financial Solutions, Inc. (NYSE: DFIN) (“Donnelley Financial”).
Each RR Donnelley stockholder of record as of the close of business on September 23, 2016 (the record date for the distribution), received one share of LSC common stock and one share of Donnelley Financial common stock for every eight shares of RR Donnelley common stock held as of the record date. No fractional shares were issued. Rather, RR Donnelley stockholders received cash in lieu of fractional shares.
No action is required by RR Donnelley stockholders to receive their LSC or Donnelley Financial common shares. RR Donnelley stockholders who held RR Donnelley common shares as of the record date will receive book-entry account statements reflecting their ownership of LSC and Donnelley Financial common shares or their brokerage account will be credited for the shares.
1 for 3 Reverse Stock Split:
Immediately following the distributions of common stock of LSC and Donnelley Financial on October 1, 2016, a 1 for 3 reverse stock split for RR Donnelley stock became effective. No fractional shares of RR Donnelley common stock will be issued to RR Donnelley stockholders in connection with the reverse stock split. RR Donnelley stockholders will receive cash in lieu of fractional shares.
No action is required for RR Donnelley stockholders who hold their shares in book entry form. RR Donnelley stockholders who hold their shares in book entry form received account statements reflecting their share ownership after giving effect to the split. Holders of RR Donnelley stock certificates received an exchange packet - with instructions concerning how to deliver their certificated shares – from the Company’s exchange agent, Computershare. Stockholders who hold their shares in “street name” will receive information from their banks or brokers, who will handle the exchange of their shares directly.
RR Donnelley stock holders with additional questions can call Computershare at 1-800-546-5141.