FedEx Beats Q2 Earnings Expectations, Raises Full-Year Outlook Despite Stock Dip 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
Maersk Vessel Successfully Transits Red Sea After Nearly Two Years Amid Ongoing Security Concerns 
U.S. Lawmakers Urge Pentagon to Blacklist More Chinese Tech Firms Over Military Ties 
Boeing Seeks FAA Emissions Waiver to Continue 777F Freighter Sales Amid Strong Cargo Demand 
LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
7-Eleven CEO Joe DePinto to Retire After Two Decades at the Helm 
Bridgewater Associates Plans Major Employee Ownership Expansion in Milestone Year 
Roche CEO Warns US Drug Price Deals Could Raise Costs of New Medicines in Switzerland 
Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies 
Instacart Stock Drops After FTC Probes AI-Based Price Discrimination Claims 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
Trump Signals Push for Lower Health Insurance Prices as ACA Premium Concerns Grow 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
CINCINNATI, Oct. 05, 2016 -- Cincinnati Bell Inc. (NYSE:CBB) today announced the completion of its previously announced 1-for-5 reverse stock split of its outstanding and treasury common shares effective as of 11:59 p.m. Eastern Time, on October 4, 2016. As of the open of the market on October 5, 2016, the Company’s common shares will begin trading on a split-adjusted basis on the New York Stock Exchange under the unchanged symbol “CBB”.
No fractional shares were issued in connection with the reverse stock split. Instead, the Company will pay each registered shareholder, in cash, the value of any fractional share interest in the Company’s common shares arising from the reverse stock split. Additional information on the treatment of fractional shares and other effects of the reverse stock split can be found in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on June 17, 2016.
Shareholders with certificated shares will soon receive a transmittal letter from the Company’s transfer agent which will contain instructions on how to surrender certificates representing pre-split common shares. Shareholders should not send in their old stock certificates until they receive the transmittal letter from the transfer agent. Shareholders with book-entry shares or who hold their shares in “street name” through a bank, broker, or other nominee will not need to take any action.
In addition, also effective as of 11:59 pm Eastern Time, on October 4, 2016, the conversion rate of the Company’s 6 ¾% Preferred Shares into common shares automatically changed from 28.838 common shares per 6 ¾% Preferred Share to 5.7676 common shares per 6 ¾% Preferred Share.
About Cincinnati Bell Inc.
With headquarters in Cincinnati, Ohio, Cincinnati Bell Inc. (CBB) provides integrated communications solutions – including local and long distance voice, data, high-speed Internet and video – that keep residential and business customers in Greater Cincinnati and Dayton connected with each other and with the world. In addition, enterprise customers across the United States rely on CBTS, a wholly-owned subsidiary, for efficient, scalable office communications systems and end-to-end IT solutions. For more information, please visit www.cincinnatibell.com.
CONTACT: Cincinnati Bell Inc. Investor contact: Josh Duckworth, +1 513-397-2292 [email protected] Media contact: Jane Weiler, +1 513-397-9941 [email protected]
