Volt Information Sciences Announces Review of Strategic Alternatives
05 Giugno 2018 - 3:00PM
Business Wire
Volt Information Sciences, Inc. (“Volt” or “the Company”)
(NYSE-AMERICAN: VISI) announces today that the Company is fully
engaged in a process to evaluate potential strategic alternatives
to maximize shareholder value. Such strategic alternatives could
include a sale of the Company or a sale of a division or divisions
thereof, a strategic merger, a business combination or continuing
as a standalone company executing on its business plan. The Company
has engaged Houlihan Lokey Capital, Inc. as financial advisor and
Milbank, Tweed, Hadley & McCloy LLP as legal advisor to assist
in its review.
Dana Messina, Chairman of the Board, said, "We remain confident
in our ability to execute on our business plan and in the growth
opportunities available to us. At the same time, the Board believes
it is in the best interest of shareholders to conduct a thorough
evaluation of strategic opportunities that could accelerate value
recognition or unlock additional value."
The Board and the Company have not set a definitive timetable
for completion of their review of strategic alternatives, nor has
any decision related to any particular strategic alternative been
made, and there can be no assurance that the process will result in
any transaction being announced or completed in the future. The
Company does not intend to make any further announcements related
to its review unless and until its Board of Directors has approved
a specific transaction or otherwise determined that further
disclosure is appropriate. As always, the Company will continue to
dedicate its resources to generating business, delivering superior
customer service and supporting the development of our
employees.
About Volt Information Sciences, Inc.
Volt Information Sciences, Inc. is a global provider of staffing
services (traditional time and materials-based as well as
project-based). Our staffing services consists of workforce
solutions that include providing contingent workers, personnel
recruitment services, and managed staffing services programs
supporting primarily administrative, technical, information
technology, light-industrial and engineering positions. Our managed
staffing programs involves managing the procurement and on-boarding
of contingent workers from multiple providers. Our customer care
solutions specializes in serving as an extension of our customers'
consumer relationships and processes including collaborating with
customers, from help desk inquiries to advanced technical support.
Our complementary businesses offer customer care call centers,
customized talent, and supplier management solutions to a diverse
client base. Volt services global industries including aerospace,
automotive, banking and finance, consumer electronics, information
technology, insurance, life sciences, manufacturing, media and
entertainment, pharmaceutical, software, telecommunications,
transportation, and utilities. For more information, visit
www.volt.com.
Forward-Looking Statements
This press release contains forward-looking statements that are
subject to a number of known and unknown risks, including, among
others, the outcome of the Company’s strategic alternatives
process, the outcome of the Company’s turnaround plan, general
economic, competitive and other business conditions, the degree and
timing of customer utilization and rate of renewals of contracts
with the Company, and the degree of success of business improvement
initiatives that could cause actual results, performance and
achievements to differ materially from those described or implied
in the forward-looking statements. Information concerning these and
other factors that could cause actual results to differ materially
from those in the forward-looking statements are contained in
company reports filed with the Securities and Exchange Commission.
Copies of the Company’s latest Annual Report on Form 10-K and
subsequent Quarterly Reports on Form 10-Q, as filed with the
Securities and Exchange Commission, are available without charge
upon request to Volt Information Sciences, Inc., 1133 Avenue of the
Americas, New York, New York 10036, Attention: Shareholder
Relations. These and other SEC filings by the Company are also
available to the public over the Internet at the SEC’s website at
www.sec.gov and at the Company’s website at www.volt.com in the
Investors section.
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version on businesswire.com: https://www.businesswire.com/news/home/20180605005711/en/
Investor Contacts:Volt Information Sciences,
Inc.voltinvest@volt.comorAddo Investor RelationsLasse Glassen,
424-238-6249lglassen@addoir.com
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