TSR, Inc. to Remain Independent
May 30 2017 - 4:00PM
Business Wire
TSR, Inc., (Nasdaq:TSRI) (“TSR” or the “Company”), announced
today that the Company will not pursue the previously disclosed
proposal made by Zeff Capital, L.P. (“Zeff Capital”) to acquire all
of the outstanding shares of TSR Common Stock not already owned by
Zeff Capital or its affiliates for $6.15 per share, in cash. Zeff
Capital owned 140,627 shares of TSR’s Common Stock, which
represents approximately 7.2% of TSR’s issued and outstanding
Common Stock as of May 18, 2017. The Company’s Board of Directors
has determined that it is in the best interests of the Company and
its stockholders to remain independent and to continue to execute
the Company’s business plans on a standalone basis. Joseph Hughes,
Chairman and Chief Executive Officer of the Company, stated that
“Delivering value to stockholders over the long term remains a
paramount objective for the Board and the Company.”
Certain statements contained herein are forward-looking
statements, as defined in the Private Securities Litigation Reform
Act of 1995. Actual results may differ materially from those set
forth in the forward-looking statements due to known and unknown
risks and uncertainties, including, but not limited to, those
described in the Company’s filings under the Securities Exchange
Act of 1934, as amended.
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version on businesswire.com: http://www.businesswire.com/news/home/20170530006220/en/
TSR, Inc.John Sharkey, 631-231-0333
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