Announcement from CTPartners

NEW YORK--(BUSINESS WIRE)-- CTPartners Executive Search, Inc. (NYSE MKT: CTP), announced today that the exclusivity period for its negotiations with DHR International Inc. regarding an acquisition of the Company expired late last week with no definitive agreement for the sale of the Company as a whole having been reached.

The Company’s business and financial condition have continued to deteriorate as consultant departures have continued through the second quarter of 2015. The Company has been informed that DHR is seeking to acquire certain of the Company’s assets in a transaction with the Company’s lenders, who have the right to acquire those assets pursuant to the underlying debt documents. DHR has indicated that it expects to employ many of the Company’s consultants and employees. There is no assurance that any such transaction will be completed, and, if completed, the proceeds of such a transaction are not likely to be sufficient to satisfy all of the Company’s obligations to its lenders and other creditors, and are not expected to result in any payment to the Company’s shareholders.

The Company expects that it would need additional funding to continue operating beyond June 30, 2015 but does not anticipate obtaining adequate funds from its current lenders or otherwise. Consequently, the Company intends to wind down its remaining operations in an orderly manner, but it may be required cease operations entirely or seek bankruptcy protection.

About CTPartners Executive Search Inc.

CTPartners is a leading global executive search firm that is designed to deliver in-depth expertise, creative strategies, and outstanding results to clients worldwide. Committed to a philosophy of partnering with its clients, CTPartners offers a proven track record in C-Suite, top executive, and board searches, as well as extensive experience in serving private equity and venture capital firms.

From its 44 offices in 24 countries, CTPartners serves clients with a global organization of more than 600 professionals and employees, offering expertise in board advisory services, key leadership functions, and executive recruiting services in the financial services, life sciences, industrial, professional services, retail and consumer, and technology, media and telecom industries.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150622006468/en/

CTPartners
William J. Keneally, 216-682-3103
Chief Financial Officer
[email protected]

Source: CTPartners

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