TSR, Inc. (NASDAQ:TSRI) Files An 8-K Other Events
Item 8.01. Other Events.
On May 30, 2017, the Board of Directors of TSR, Inc. (the Company
or TSR) determined that the Company will not pursue a proposal
submitted to the Company by Zeff Capital, L.P. (Zeff Capital) to
acquire all of TSRs outstanding shares of Common Stock not owned
by Zeff Capital for $6.15 per share, in cash. Zeff Capital owned
140,627 shares of TSRs Common Stock, which represents
approximately 7.2% of TSRs issued and outstanding Common Stock as
of May 18, 2017. The Companys Board of Directors has determined
that it is in the best interests of the Company and its
stockholders to remain independent and to continue to execute the
Companys business plans on a standalone basis. A copy of a letter
from Joseph Hughes, Chairman and Chief Executive Officer of TSR,
advising Zeff Capital of the Boards determination and transmitted
for delivery via courier to Zeff Capital on May 30, 2017 is filed
as Exhibit 99.2 to this Current Report on Form 8-K.
Section 9 Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits.
| (d)Exhibits: | ||
| Exhibit Number | Description | |
| 99.1 | Press Release re: TSR To Remain Independent | |
| 99.2 |
Letter dated May 30, 2017 from Joseph F. Hughes to Zeff Capital L.P. |
|
About TSR, Inc. (NASDAQ:TSRI)
TSR, Inc. is engaged in providing contract computer programming services to its customers. The Company provides its customers with technical computer personnel. It provides its customers with technical computer personnel to supplement their in-house information technology (IT) capabilities. The Company offers staffing capabilities in the areas of mainframe and mid-range computer operations, personal computers and client-server support, Internet and e-commerce operations, voice and data communications (including local and wide area networks), and help desk support. It provides services on day-to-day operations, special projects and on short-term or long-term basis. It also offers various services to other companies in various sectors, such as insurance, pharmaceutical and biotechnology, publishing and new media, financial services and project utilities. It provides contract computer programming services in the New York metropolitan area, New England and the Mid-Atlantic region. TSR, Inc. (NASDAQ:TSRI) Recent Trading Information
TSR, Inc. (NASDAQ:TSRI) closed its last trading session down -0.30 at 7.60 with 7,836 shares trading hands.