General Employment Enterprises, Inc. Announces Special Meeting of Shareholders to Approve Share Sale to PSQ, LLC
18 Mayo 2009 - 3:38PM
PR Newswire (US)
OAKBROOK TERRACE, Ill., May 18 /PRNewswire-FirstCall/ -- General
Employment Enterprises, Inc. (NYSE Amex: JOB) today announced that
a record date and a special meeting date have been established for
General Employment's shareholders to consider and vote on the
proposal to approve (i) the previously announced sale by General
Employment of 7,700,000 newly-issued shares of its Common Stock to
PSQ, LLC (the "Share Purchase") at a price of $0.25 per share
pursuant to a definitive securities purchase and tender offer
agreement entered into between General Employment and PSQ on March
30, 2009, which provides for, among other things, the Share
Purchase and the offer by PSQ to acquire up to 2,500,000 shares of
Common Stock from General Employment's shareholders pursuant to a
cash tender offer upon the terms and conditions set forth in the
agreement and (ii) the change of control that may result from such
Share Purchase. General Employment's shareholders of record as of
the close of May 15, 2009 are entitled to notice of the special
meeting and to vote on the approval of the Share Purchase and
change of control that may result from such Share Purchase. The
special meeting is scheduled to be held on Monday, June 22, 2009 at
9:00 a.m., Chicago time. The definitive proxy statement for the
special meeting has been filed with the Securities and Exchange
Commission ("SEC") and is first being mailed to shareholders on May
18, 2009. If the Share Purchase is approved, the Share Purchase is
expected to close promptly following the special meeting, subject
to satisfaction of other customary closing conditions. About
General Employment General Employment provides professional
staffing services through a network of 16 branch offices located in
nine states, and specializes in information technology, accounting
and engineering placements. Forward-Looking Statements The
statements made in this press release which are not historical
facts are forward-looking statements and, except for statements
relating to the tender offer described in this press release, are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. These forward-looking statements include statements
regarding the acquisition of shares pursuant to the share purchase
or the tender offer, the filing of documents and information with
the SEC, other future or anticipated matters regarding the
transactions discussed in this release and the timing of such
matters. Such forward-looking statements often contain or are
prefaced by words such as "will" and "expect." As a result of a
number of factors, our actual results could differ materially from
those set forth in the forward-looking statements. Certain factors
that might cause our actual results to differ materially from those
in the forward-looking statements include, without limitation: (1)
the risk that the conditions to the closing of the tender offer or
the share purchase set forth in the securities purchase and tender
offer agreement will not be satisfied, (2) changes in General
Employment's business during the period between the date of this
press release and the closing, (3) obtaining regulatory approvals
(if required) for the transaction, (4) the risk that the
transactions will not be consummated on the terms or timeline first
announced, and (5) those factors set forth under the heading
"Forward-Looking Statements" in our annual report on Form 10-KSB
for the fiscal year ended September 30, 2008, and in our other
filings with the SEC. General Employment is under no obligation to
(and expressly disclaims any such obligation to) and does not
intend to update or alter its forward-looking statements whether as
a result of new information, future events or otherwise.
DATASOURCE: General Employment Enterprises, Inc. CONTACT: Herbert
F. Imhoff, Jr., Chief Executive Officer and President of General
Employment Enterprises, Inc., +1-630-954-0495, Fax,
+1-630-954-0595, Web Site: http://www.generalemployment.com/
Copyright