TORONTO, July 30, 2015 /CNW/ - Retained executive
search firm The Caldwell Partners International Inc. (CWL.TO)
("Caldwell Partners") today announced that its Chairman,
G. Edmund King, and the Chairman of
DHR International ("DHR"), David
Hoffmann, had concluded, on an amicable conference call,
that Caldwell Partners and DHR would cease further communications
regarding an acquisition transaction by DHR for Caldwell Partners
at the present time.
As part of the conversation, Mr. Hoffmann and Mr. King
agreed that DHR would dispose of its approximately 5.6% of the
shares of Caldwell Partners and, in order to avoid any overhang of
these shares in the market, Caldwell Partners agreed to
purchase such shares at a price of C$1.40 per share.
Messrs. King and Hoffmann also agreed to a two-year mutual
non-solicitation understanding, pursuant to which neither would
solicit partners or search consultants of the other, but may hire
partners and search consultants who leave employment or who
initiate discussions with the other party (with prior discussions
being grandfathered), and a two-year standstill pursuant to which
DHR and its affiliates would not acquire shares of Caldwell
Partners. The agreements are subject to the negotiation and
execution of mutually acceptable definitive documentation.
About Caldwell Partners
Caldwell Partners is a leading
international provider of executive search and has been for more
than 40 years. As one of the world's most trusted advisors in
executive search, the firm has a sterling reputation built on
successful searches for boards, chief and senior executives, and
selected functional experts. With offices and partners across
North America, Latin America and in London, the firm takes pride in delivering an
unmatched level of service and expertise to its clients. Caldwell
Partners' Common shares are listed on The Toronto Stock Exchange
(TSX: CWL). Please visit our website at www.caldwellpartners.com
for further information.
Forward-Looking Statements
Forward-looking statements
in this document are based on current expectations that are subject
to significant risks and uncertainties. Actual results might differ
materially due to various factors such as the competitive nature of
the executive search industry, the ability of the company to
execute its growth strategies, the performance of the Canadian
domestic and international economies, and the company's ability to
retain key personnel. The Caldwell Partners assumes no obligation
to update the forward-looking statements, or to update the reasons
why actual results could differ from those reflected in the
forward-looking statements.
SOURCE The Caldwell Partners International Inc.