Global Power Evaluates Impact of Subsequent Events and Files Notification of Late Filing of 2017 Financials

IRVING, Texas–(BUSINESS WIRE)–Global
Power Equipment Group Inc. (OTC: GLPW) (“Global Power” or the
“Company”) announced today that it intends to file a Form 12b-25,
Notification of Late Filing, with the U.S. Securities and Exchange
Commission (the “SEC”) for its Annual Report on Form 10-K for the year
ended December 31, 2017 (the “2017 Form 10-K”). Global Power is working
diligently to incorporate the impact of certain issues relating to 2017
that were identified and/or resolved following December 31, 2017. The
Company is disappointed not to complete the 2017 Form 10-K by April 2,
2018, as originally anticipated, but still intends to be current with
its SEC filings by completing the 2017 Form 10-K filing within the
15-day extension period permitted by the Form 12b-25 notification.

Global Power will announce the expected timing of the release of its
fourth quarter and full year 2017 results and subsequent conference call
as soon as practical.

About Global Power

Global Power Equipment Group Inc. and its wholly owned subsidiaries are
comprehensive providers of custom solutions and maintenance and
modification services for customers in the power generation and process
and industrial markets. Additional information about Global Power can be
found on its website: www.globalpower.com.

Forward-looking Statement Disclaimer

This press release contains “forward-looking statements” within the
meaning of the term set forth in the Private Securities Litigation
Reform Act of 1995. The forward-looking statements include statements or
expectations regarding the Company’s ability to meet its filing
obligation in a timely manner and related matters. These statements
reflect our current views of future events and financial performance and
are subject to a number of risks and uncertainties, including the
ability to complete the integration of subsequent events into the 2017
financials with sufficient time for the auditors to complete their
review. Our actual results, performance or achievements may differ
materially from those expressed or implied in the forward-looking
statements, including our ability to prepare and finalize our 2017
financial statements, the ability of our auditors to complete their
review and audit of those financial statements in the expected timeframe
and the Company’s ability to prepare and file the 2017 Form 10-K. For
example, additional information may arise during the course of the
Company’s accounting review that would require the Company to make
unanticipated additional adjustments or revisions, or the Company’s
auditors may take longer to complete their work than anticipated, either
of which could prevent the Company from being able to prepare and file
the 2017 Form 10-K during the extension period provided by the Form
12b-25 filing.

Other important factors that may cause actual results or timing of
events to differ materially from those expressed in the forward-looking
statements are discussed in our filings with the SEC, including the
section of the Company’s 2016 Annual Report on Form 10-K titled “Risk
Factors.” Any forward-looking statement speaks only as of the date of
this press release. Except as may be required by applicable law, we
undertake no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, and we caution you not to rely upon them unduly.

Contacts

Investor Relations:
Kei Advisors LLC
Deborah K.
Pawlowski, 716-843-3908
[email protected]