Frontier Communications Board Will Set Reverse Stock Split Ratio at 1-for-15
Frontier Communications Corporation (NASDAQ: FTR) announced today that its Board of Directors has made a determination that it
will set the reverse stock split ratio at 1-for-15 if stockholders approve the reverse stock split proposal that is now before them
and, following such approval, the Board decides to proceed with the reverse stock split. The Board made its determination after
considering a number of factors, including the recommendation of the Company’s financial advisor, target pricing, and feedback from
stockholders and commentators. In addition to the reverse stock split, the proposal before Frontier stockholders would reduce the
authorized number of shares of common stock from 1,750,000,000 to 175,000,000.
Voting Matters
There are no changes to the previous proxy/voting instruction card. Stockholders that have already voted do not need to take
any action unless they wish to change their vote.
Proxies/voting instructions already returned by stockholders will remain valid and will be voted at the Annual Meeting, or at
any adjournment or postponement thereof, in the manner indicated unless the stockholder revokes the proxy or changes the vote
before the shares are voted at the Annual Meeting. Shares represented by proxies returned before the Annual Meeting, but for which
no voting instructions have been provided, will be voted in accordance with the Board’s recommendations as set forth in the proxy
statement dated March 28, 2017. Important information regarding how to vote shares, revoke proxies or change voting instructions
already given is available in the proxy statement under the caption “QUESTIONS AND ANSWERS ABOUT THE ANNUAL MEETING”.
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 .
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
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