Startek Forms Special Committee in Response to Preliminary Non-Binding Acquisition Proposal by CSP Management Limited

Startek, Inc. has established a special committee of independent directors in response to a non-binding acquisition proposal from CSP Management Limited. The proposal, dated July 18, 2023, suggests acquiring all shares of Startek not already owned by CSP for $3.80 in cash per share. CSP currently holds around 56% of Startek's outstanding shares and states it has no intention of selling its interests or approving any other combination involving Startek.

The special committee, supported by legal counsel Gibson, Dunn & Crutcher LLP and financial advisor Houlihan Lokey, Inc., will evaluate the proposal. Startek reminds stakeholders that no decisions have been made yet regarding the proposal's response or any potential transaction.