The board of directors of Startek, Inc. has formed a special committee of independent directors that is authorized, among other things, to evaluate the non-binding proposal, dated December 20, 2021, by CSP Management Limited to acquire all the shares of Startek that it does not already own for $5.40 in cash per share. CSP is currently the beneficial owner of approximately 55.3% of the outstanding shares of Startek.
The special committee has engaged Freshfields as its counsel and will be engaging a financial advisor to assist in its consideration of the proposal.
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Startek cautions its stockholders and others considering trading in its securities that the proposal by CSP was received only recently and that no decisions have been made by the special committee about how to respond. A copy of the proposal letter from CSP is available as an exhibit to CSP’s statement of beneficial ownership on Schedule 13D/A as publicly filed with the Securities and Exchange Commission.
There can be no assurance that any definitive offer will be made or accepted, that any agreement will be executed or that any transaction will be consummated.
Startek and the special committee do not intend to comment further about this proposal or any other potential transaction, unless and until a specific transaction is approved by the special committee.
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