|[December 28, 2012]
Insperity Announces Final Results of Dutch Auction Tender Offer
HOUSTON --(Business Wire)--
Inc. (NYSE: NSP), a leading provider of human
resources and business performance solutions for America's best
businesses, today announced the final results of its modified "Dutch
auction" tender offer, which expired at 11:59 p.m., New York City time,
on Dec. 21, 2012.
Insperity has accepted for purchase 80,983 shares of its common stock at
a price of $31.00 per share for a total cost of approximately $2.5
million, excluding fees and expenses relating to the tender offer. The
shares purchased pursuant to the tender offer represent approximately
0.3 percent of the total number of shares issued and outstanding as of
Dec. 26, 2012. We funded the purchase of the shares in the tender offer
from cash on hand.
Computershare Trust Company, N.A., the depositary for the tender offer,
will promptly pay for the shares of common stock accepted for purchase.
Payment for the shares will be made in cash, without interest. Upon
completion of the tender offer, we have approximately 25.6 million
shares of common stock issued and outstanding.
As noted in the Offer to Purchase, we may purchase additional shares in
the future in the open market subject to market conditions. We may also
purchase shares in private transactions, tender offers or otherwise.
However, under applicable seurities laws, we may not repurchase any
shares until after Jan. 8, 2013. Any possible future purchases by us
will depend on many factors, including the market price of the shares,
the results of the tender offer, our business and financial position and
general economic and market conditions.
Georgeson Inc. serves as information agent for the tender offer. The
dealer manager for the tender offer is Robert W. Baird & Co.
Incorporated. Questions and requests for assistance may be directed to
the information agent at (800) 509-0917 (toll free) or the dealer
manager at (414) 298-7382.
Insperity, a trusted advisor to America's best businesses for more than
26 years, provides an array of human resources and business solutions
designed to help improve business performance. InsperityTM
Business Performance Advisors offer the most comprehensive suite of
products and services available in the marketplace. Insperity delivers
administrative relief, better benefits, reduced liabilities and a
systematic way to improve productivity through its premier Workforce
OptimizationTM solution. Additional company offerings include
Human Capital Management, Payroll Services, Time and Attendance,
Performance Management, Organizational Planning, Recruiting Services,
Employment Screening, Financial Services, Expense Management, Retirement
Services and Insurance Services. Insperity business performance
solutions support more than 100,000 businesses with over 2 million
employees. With 2011 revenues of $2 billion, Insperity operates in 56
offices throughout the United States. For more information, visit http://www.insperity.com.
Information on Forward Looking Statements
Certain statements in this news release are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements include assumptions, expectations,
predictions, intentions or beliefs about future events, including the
completion of the offer. Although Insperity believes that such
statements are based on reasonable assumptions, no assurance can be
given that such statements will prove to have been correct. A number of
factors could cause actual results to vary materially from those
expressed or implied in any forward-looking statements. More information
about the risks and uncertainties relating to Insperity and the
forward-looking statements are found in Insperity's SEC (News - Alert) filings,
including its Annual Report on Form 10-K for the fiscal year ended Dec.
31, 2011 and its Quarterly Reports on Form 10-Q for the quarters ended
March 31, 2012, June 30, 2012 and Sept. 30, 2012, which is available
free of charge on the SEC's web site at http://www.sec.gov.
Insperity expressly disclaims any obligation to update any
forward-looking statements contained in this news release to reflect
events or circumstances that may arise after the date of this release,
except as otherwise required by applicable law.
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