FIDELITY NATIONAL FINANCIAL, INC. Jacksonville, Fla. -- (September 14, 2015) -- Fidelity National Financial, Inc. today announced that FNFV Group (NYSE:FNFV), a tracking stock established to highlight the inherent value of the portfolio companies of Fidelity National Financial, Inc., intends to distribute shares of J. Alexander's Holdings, Inc. ("J. Alexander's") common stock to FNFV shareholders in a tax-free distribution. FNFV expects there to be approximately 13,116,749 shares of J. Alexander's common stock included in the distribution, or approximately 87.4% of the outstanding shares of J. Alexander's common stock. FNFV expects to have approximately 75,945,382 shares of its common stock outstanding at the time of the distribution.
Under the distribution plan, FNFV shareholders will receive approximately 0.17271 shares of J. Alexander's common stock for each share of FNFV common stock that they own. The distribution is expected to be made on September 28, 2015, to FNFV shareholders as of the record date, which is expected to be at the close of business on September 22, 2015. J. Alexander's is expected to begin trading on the NYSE on September 29, 2015, under the trading symbol "JAX".
The completion of the distribution of J. Alexander's common stock to FNFV shareholders is conditioned on the satisfaction of the conditions described in the Form 10 General Form for Registration of Securities. The Fidelity National Financial, Inc. Board of Directors has reserved the right to withdraw or change the declaration of the distribution at any time prior to the distribution.
The distribution of J. Alexander's common stock is expected to generally be tax-free to FNFV shareholders for U.S. federal income tax purposes, except to the extent of any cash received in lieu of J. Alexander's fractional shares.
No action or payment is required by FNFV stockholders in order to receive the shares of J. Alexander's common stock. Stockholders who hold FNFV common stock on the record date and through the distribution date will receive a book-entry account statement reflecting their ownership of J. Alexander's common stock or their brokerage account will be credited with the J. Alexander's shares.
Investors are encouraged to consult with their financial advisors regarding the specific implications of buying or selling FNFV common stock on or before the distribution date.
About Fidelity National Financial, Inc.
Fidelity National Financial, Inc. is organized into two groups, FNF Group (NYSE: FNF) and FNFV Group (NYSE: FNFV). FNF is a leading provider of title insurance, technology and transaction services to the real estate and mortgage industries. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Alamo Title and National Title of New York - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides industry-leading mortgage technology solutions and transaction services, including MSP®, the leading residential mortgage servicing technology platform in the U.S., through its majority-owned subsidiaries, Black Knight Financial Services and ServiceLink Holdings. FNFV holds majority and minority equity investment stakes in a number of entities, including American Blue Ribbon Holdings, LLC, J. Alexander's Holdings, LLC, Ceridian HCM, Inc., Fleetcor Technologies, Inc. and Digital Insurance, Inc. More information about FNF and FNFV can be found at www.fnf.com.
Forward-Looking Statements
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding our expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions, including changes in the financial markets; weakness or adverse changes in the level of real estate activity, which may be caused by, among other things, high or increasing interest rates, a limited supply of mortgage funding or a weak U. S. economy; our potential inability to find suitable acquisition candidates, acquisitions in lines of business that will not necessarily be limited to our traditional areas of focus, or difficulties in integrating acquisitions; our dependence on distributions from our title insurance underwriters as a main source of cash flow; significant competition that our operating subsidiaries face; compliance with extensive government regulation of our operating subsidiaries; and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission.
SOURCE: Fidelity National Financial, Inc.
CONTACT:
Daniel Kennedy Murphy
Senior Vice President and Treasurer
904-854-8120
dkmurphy@fnf.com
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