Exhibit 99.1
ABLEST INC. ANNOUNCES CLOSING OF MERGER
TAMPA, Fla., June 8, 2007 Ablest Inc. (Amex: AIH) announced today that it has closed the
previously announced merger with Select Acquisition, Inc., an entity wholly-owned by Koosharem
Corporation. Koosharem is the holding company of SelectRemedy, which has approximately 280
professional staffing offices throughout North America, focused on delivering human capital
workforce solutions in various business sectors.
The parties today filed a certificate of merger with the Secretary of State of the State of
Delaware to consummate the Merger upon which Ablest became a wholly-owned subsidiary of Koosharem.
Each outstanding share of Ablests common stock has been converted into the right to receive $11.00
in cash per share (other than those shares held by Ablest, Koosharem or Select Acquisition, or any
of their respective subsidiaries, and other than those shares with respect to which appraisal
rights are properly exercised). American Stock Transfer & Trust Company has been appointed the
exchange agent for payment of the merger consideration. Ablest anticipates that the exchange agent
will contact shareholders shortly with instructions on how to receive payment for their shares. As
a result of the Merger, Ablest will no longer file periodic reports with the Securities and
Exchange Commission and shares of the Companys common stock will no longer trade on the American
Stock Exchange.
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SOURCE:
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Ablest Inc. |
CONTACT:
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John Horan, Vice President and Chief Financial Officer
813/830-7700 or jhoran@ablest.com |