GEE Group Announces Conclusion of Review of Strategic Alternatives

GEE Group Inc. (NYSE American: JOB), a staffing and human resources solutions provider, declared the end of its strategic review process, determined to continue its current growth strategy combined with an increased focus on strategic acquisitions. The review was conducted by the Board's Mergers and Acquisitions Committee, alongside advisory firm DC Advisory, which recommended maximizing shareholder value through internal growth and systematic acquisitions. Despite concerns around share buybacks limiting capital flexibility, the Board resolved to allocate available funds to enhance its acquisition strategy and internal growth initiatives.

William Isaac, Chairman of the Committee, confirmed that the approach to focus on organic growth supplemented by acquisitions was unanimously supported by the Board. Derek Dewan, Chairman and CEO of GEE Group, expressed confidence in the company's strategy and financial health, emphasizing its strong, debt-free balance sheet and promising prospects for future growth. GEE Group plans to announce its fiscal second-quarter results on May 15, 2024, followed by an investor call.