GEE Group concludes strategic review

GEE Group announced its board of directors unanimously concluded a review of strategic alternatives. After extensive evaluation and deliberation, the board determined the ongoing execution of the company’s strategic plan for internal growth coupled with an accelerated program for strategic acquisitions is the best way to maximize value for shareholders at this time. The GEE Group board initiated the review of strategic alternatives process through its mergers and acquisition committee, comprised solely of independent members of the board. The committee, together with its advisor, DC Advisory, evaluated a comprehensive range of strategic alternatives to maximize shareholder value. The company previously commenced the formal strategic alternatives review process in December, 2023. After consideration, the board unanimously determined that: share buybacks should not be recommenced. All available capital should be earmarked to execute and accelerate the company’s current internal growth plan and future strategic acquisition growth. Recommence a systematic, disciplined and accelerated acquisition strategy to accelerate growth and deepen and broaden the company’s current platform – acquisitions offer both higher growth and needed scale to GEE Group -while the fragmented industry provides the Company with significant opportunities for GEE to take advantage of its financial resources and flexibility to provide higher returns to shareholders with increasing EBITDA.