Key Summary: On August 9, 2023, Red Oak Partners entered a cooperation agreement with the company, leading to the board's expansion from seven to nine directors and the appointment of two new independent directors, David Sandberg and J. Randall Waterfield. On August 15, 2023, Goldenwise Capital Group (5.2%) announced ongoing discussions with management since May 2023 about unlocking value through board changes, de-staggering the board, share repurchases, corporate governance improvements, and potentially selling the company.Market Cap: $55 million | GEE Group Inc. provides permanent and temporary professional and industrial staffing and placement services in the United States.
On May 25, 2023, Red Oak Fund (8.7%) delivered a letter to the company nominating a slate of two candidates for election to the board at the 2023 AGM. Source
On August 9, 2023, Red Oak Partners entered into a cooperation agreement with the company and pursuant to it, the Board will increase its size from seven to nine directors and appoint two new independent directors, David Sandberg (Red Oak Capital's nominee) and J. Randall Waterfield) to serve as Class I and Class II directors, respectively, filling the newly created vacancies on the Board.
On August 15, 2023, Goldenwise Capital Group (5.2%) stated that since May 2023, it has been engaged, and intends to continue to engage, in discussions with management regarding opportunities to unlock value, including: Changes to Board Composition, De-staggering Board, Share Repurchase, Corporate Governance Improvement, Potential Selling of the Company. Source
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