SHANGHAI, Sept. 30, 2020 /PRNewswire/ -- 51job,
Inc. (Nasdaq: JOBS) ("51job"
or the "Company"), a leading provider of integrated human resource
services in China, announced today that the special committee
(the "Special Committee") of the Company's Board of Directors (the
"Board") has retained Duff & Phelps, LLC as its independent
financial advisor and Davis Polk
& Wardwell LLP as its independent legal counsel. The
Special Committee was formed to evaluate and consider the
previously announced preliminary non-binding acquisition proposal
letter dated September 17, 2020 (the
"Proposal") as well as other potential strategic alternatives that
the Company may pursue.
The Board cautions the Company's shareholders and others
considering trading the Company's securities that no decisions have
been made with respect to the Proposal or any alternative strategic
option that the Company may pursue. There can be no assurance that
any definitive offer will be received, that any definitive
agreement will be executed relating to the transaction contemplated
by the Proposal or that any other transaction will be approved or
consummated. The Company does not undertake any obligation to
provide any updates with respect to any transaction, except as
required under applicable law.
About 51job
Founded in 1998, 51job is a leading provider of integrated human
resource services in China. With a comprehensive suite of HR
solutions, 51job meets the needs of enterprises and job seekers
through the entire talent management cycle, from initial
recruitment to employee retention and career development. The
Company's main online recruitment platforms (http://www.51job.com,
http://www.yingjiesheng.com, http://www.51jingying.com,
http://www.lagou.com, and http://www.51mdd.com), as well as mobile
applications, connect millions of people with employment
opportunities every day. 51job also provides a number of other
value-added HR services, including business process outsourcing,
training, professional assessment, campus recruitment, executive
search and compensation analysis. 51job has a call center in
Wuhan and a nationwide network of
sales and service locations spanning more than 30 cities across
China.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "targets, "confident" and similar
statements. Among other things, statements that are not historical
facts, including statements about 51job's beliefs and expectations,
the business outlook and quotations from management in this
announcement, as well as 51job's strategic and operational plans,
are or contain forward-looking statements. 51job may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission, in its
annual report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. All forward-looking statements
are based upon management's expectations at the time of the
statements and involve inherent risks and uncertainties. A number
of factors could cause actual results to differ materially from
those contained in any forward-looking statement, including but not
limited to the following: execution of 51job's strategies and
business plans; growth and trends of the human resource services
industry in China; market
acceptance of 51job's products and services; competition in the
industry; 51job's ability to control costs and expenses; 51job's
ability to retain key personnel and attract new talent; relevant
government policies and regulations relating to 51job's industry,
corporate structure and business operations; seasonality in the
business; fluctuations in the value of the Renminbi against
the U.S. dollar and other currencies; risks related to acquisitions
or investments 51job has made or will make in the future;
accounting adjustments that may occur during the quarterly or
annual close or auditing process; and fluctuations in general
economic and business conditions in China and globally, including the impact of
the coronavirus or other pandemic. Further information
regarding these and other risks are included in 51job's filings
with the U.S. Securities and Exchange Commission. All
information provided in this press release and in the attachments
is as of the date of the press release and based on assumptions
that 51job believes to be reasonable as of this date, and 51job
undertakes no obligation to update any forward-looking statement,
except as required under applicable law.
Contact
Investor Relations, 51job, Inc.
Tel: +86-21-6879-6250
Email: ir@51job.com
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SOURCE 51job, Inc.