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DHR to stop overtures for Caldwell Partners, sell back shares

July 31, 2015

Executive search firm DHR International will cease further communication about a possible acquisition of fellow executive search firm Caldwell Partners for the present time, Caldwell announced Thursday.

Caldwell Chairman G. Edmund King reported he took part in a conference call with DHR Chairman David Hoffman regarding the matter. DHR had been making overtures to Caldwell regarding a possible acquisition.

As part of the conversation, DHR agrees to sell the 5.6% of shares in Caldwell it owns to Caldwell at a price of C$1.40 per share.

King and Hoffman also agreed to a two-year nonsolicitation agreement that neither firm would solicit search consultants from one another but may hire consultants if they leave employment with one company or the consultant begins discussions first.

DHR also agreed to not acquire shares of Caldwell for two years.