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Chatham Asset Management, owning 14.9% of R.R. Donnelley & Sons Company (RRD), criticized the Board's decision to extend its stockholder rights plan, viewing it as detrimental to shareholder value. The letter highlighted an 80% decline in RRD's stock since its 2016 spinoff, equating to over $1 billion in lost value. Chatham stressed the need for new directors with corporate governance expertise to enhance shareholder engagement and improve operational efficiency. They urged the Board to reconsider their governance approach and align more closely with shareholder interests.
R.R. Donnelley & Sons Company (NYSE: RRD) has announced an amendment to its stockholder rights plan, extending its expiration date to August 28, 2022. This extension is aimed at preventing potential undue influence or control over the company through market accumulation. The amended plan will be submitted for ratification at the 2022 Annual Meeting. If stockholders do not approve it, the plan will expire the first business day following the certification of voting results.
R.R. Donnelley & Sons Company (RRD) has launched an omnichannel offering tailored for the education sector, addressing the challenges posed by COVID-19. This initiative is designed to enhance communications agility for educational institutions ranging from pre-K to higher education. Key features include personalized programs for recruitment, fundraising campaigns with measurable ROI, and touchless communications utilizing NFC/QRC technologies. RRD's long-standing relationship with Ivy Tech Community College exemplifies their commitment to optimizing student engagement and institutional support.
R.R. Donnelley & Sons Company (NYSE: RRD) reported Q2 2021 results showing GAAP net sales of $1.15 billion, a 13.5% increase year-over-year. Adjusted income from operations rose to $41 million, with a notable reduction in losses per share to $0.13 from $0.79 in Q2 2020. The company benefits from rising e-commerce demand and a recovery from COVID-19. However, challenges include labor shortages and supply chain disruptions. The firm now projects a 1-3% increase in 2021 net sales, with adjusted income expected to remain flat against the previous year.
R.R. Donnelley & Sons Company (NYSE: RRD) addresses the Schedule 13D filed by Chatham Asset Management, showcasing ongoing dialogues and a focus on strategic opportunities. The Company has made significant strides in debt reduction, including the $238 million sale of Logistics businesses and $96 million from insurance policy liquidations. Furthermore, RRD reports a stock price increase of 442% since July 2020, outperforming the Russell 3000 average of 37%. Management emphasizes continued efforts to enhance stockholder value and optimize business strategies amidst these changes.
Chatham Asset Management, which holds approximately 14.9% of R.R. Donnelley & Sons Company (RRD), has urged the Board not to renew its stockholder rights plan, known as the 'Poison Pill,' set to expire on August 28, 2021. Chatham argues that renewing this plan would diminish shareholder confidence and suggests engaging an external advisor for a strategic review of company assets to unlock RRD's intrinsic value. The firm emphasizes the need for transparency and a focus on enhancing share price, despite ongoing positive operating performance.
R.R. Donnelley & Sons Company (NYSE:RRD) will report its second quarter results on August 3, 2021, and host a conference call on August 4, 2021. The earnings release and accompanying slides will be accessible on the RRD Investors website. Participants must register in advance for the webcast or call. RRD is a global provider of multichannel business communications services, serving 30,000 clients in 28 countries with a vast range of marketing solutions.
R.R. Donnelley & Sons Company (RRD) has launched Onsite Marketing Services, aimed at aiding retailers in managing their store signage and fixture solutions. This service supports small and mid-sized retailers by offering a comprehensive marketing solution that includes installation, procurement, and site audits. Toni Thompson, President of RRD Retail Solutions, emphasized that the pandemic has heightened the need for efficient store communications. The offering includes certified installers and is poised to benefit various retail sectors such as quick-serve restaurants and grocery stores.
R. R. Donnelley & Sons Company (NYSE: RRD) has amended its stockholder rights plan, increasing the ownership threshold from 10% to 15% for triggering rights exercisability. This measure aims to prevent potential undue influence over the company, with the rights plan set to expire on August 28, 2021. The Board anticipates submitting the extended plan for ratification at the 2022 annual meeting. Notably, this plan allows rights redemption at $0.001 until ten business days post-announcement of ownership acquisition. RRD provides multichannel business communications and marketing solutions.
R.R. Donnelley & Sons Company (RRD) has launched RRD RemediAd, a PDF remediation solution utilizing human and AI resources to enhance digital accessibility and regulatory compliance. This service addresses the challenges of accessibility compliance in digital content and is claimed to be 50% more cost-efficient than traditional methods. RRD RemediAd offers features such as full customization, a simple three-step process, and a model where human experts ensure quality output. The initiative aligns with the increasing demand for inclusive information delivery across various industries.
