Exhibit 99.1
CTPARTNERS EXECUTIVE SEARCH INC. ANNOUNCES EXPANSION
AND EXTENSION OF SHARE REPURCHASE PROGRAM
New York, NY, February 1, 2012 — CTPartners Executive Search Inc. (AMEX: CTP), a leading global retained executive search firm, today announced that its Board of Directors has authorized a new repurchase program to acquire up to $1 million of CTPartners’ outstanding common stock in open-market and privately negotiated transactions and block trades. The timing of any share purchases, the prices and the number of shares to be purchased will be dependent on market conditions. The new share repurchase program replaces the existing program, which was authorized in August 2011, pursuant to which the Company purchased 176,271 shares for approximately $1 million in open-market and privately-negotiated transactions.
Brian Sullivan, Chief Executive Officer of CTPartners said, “The completion of our existing share repurchase program and implementation of a new program reflects our ongoing confidence in our growth potential as well as our shareholder focus. While investing in our business remains paramount towards driving future growth and creating long-term value, we believe the repurchase of our shares can be a prudent use of capital.”
The share repurchases will be conducted in accordance with applicable securities laws. The Company is not obligated to make any purchases and the program may be suspended or discontinued at any time.
As of December 31, 2011, CTPartners had 7,110,360 common shares outstanding.
About CTPartners
CTPartners is a leading performance-driven executive search firm serving clients across the globe. Committed to a philosophy of partnering with its clients, CTPartners offers a proven record in C-Suite, senior executive, and board searches, as well as expertise serving private equity and venture capital firms.
With origins dating back to 1980, CTPartners serves clients with a global organization of more than 400 professionals and employees, offering expertise in board advisory services and executive recruiting services in the financial services, life sciences, industrial, professional services, retail and consumer, and technology, media and telecom industries. Headquartered in New York, CTPartners has 23 offices in 15 countries.
www.ctnet.com
Safe Harbor Statement
The following is a Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This press release includes forward-looking statements. As a general matter, forward-looking statements reflect our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. These statements may be identified by the use of forward looking terminology such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of those words or other comparable words, but the absence of these words does not necessarily mean that a statement is not forward-looking. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for the disclosure of forward-looking statements.
The forward-looking statements contained in this press release are based upon our historical performance, current plans, estimates, expectations and other factors we believe are appropriate under the circumstances. The inclusion of this forward-looking information should not be regarded as a representation by us that the future plans, estimates or expectations contemplated by us will be achieved since these forward-looking statements are subject to various risks and uncertainties and assumptions relating to our operations, financial results, financial condition, business prospects, growth strategy and liquidity. If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from those indicated in these statements. Some of the key uncertainties and factors that could affect our future performance and cause actual results to differ materially from those expressed or implied by forward-looking statements are: our expectations regarding our revenues, expenses and operations and our ability to sustain profitability; our ability to recruit and retain qualified executive search consultants to staff our operations appropriately; our ability to expand our customer base and relationships, especially given the off-limit arrangements we are required to enter into with certain of our clients; further declines in the global economy and our ability to execute successfully through business cycles; our anticipated cash needs; our anticipated growth strategies and sources of new revenues; unanticipated trends and challenges in our business and the markets in which we operate; social or political instability in markets where we operate; the impact of foreign currency exchange rate fluctuations; price competition; the ability to forecast, on a quarterly basis, variable compensation accruals that ultimately are determined based on the achievement of annual results; and the mix of profit and loss by country in which we operate.
Contact:
CTPartners Executive Search Inc.
Jennifer Silver
Vice President, Marketing & Investor Relations
Tel: 877-439-9229
Email:ir@ctnet.com
