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Lumos Networks Reconstitutes the Board Following Engagement with Archer Capital

January 19, 2016

Following its engagement and constructive dialogue with Olshan client Archer Capital, Lumos Networks Corp., a fiber-based service provider of data, reconstituted its Board by appointing two new directors recommended by Archer Capital, Lawrence J. Askowitz and Shawn F. O’Donnell. Each of Messrs. Askowitz and O’Donnell will be nominated by Lumos for election at its 2016 annual meeting and two current Lumos directors will not stand for re-election, returning the Board size to 9 directors following the 2016 annual meeting.  Archer Capital initially filed a Schedule 13D for Lumos Networks on September 17, 2015 and thereafter converted to a Schedule 13G on January 20, 2016.  Steve Wolosky and Meagan M. Reda represented Archer Capital in connection with its investment in Lumos Networks.

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