Existing shareholders holding certificates representing Winthrop 's common shares will receive a Letter of Transmittal from Winthrop 's transfer agent with specific instructions regarding the exchange of shares . Existing shareholders who hold their shares in " street name " need not take any action with respect to the reverse split . National City Bank is Winthrop 's transfer agent and will act as the exchange agent for the purpose of implementing the exchange of stock certificates in connection with the reverse split .