Business
ISC Recommends Shareholders DO NOT TENDER to Plantro's Abusive and Coercive Mini-Tender
“Mini-tender” is structured for Plantro, an offshore entity, to potentially take ef...
About this update from Information Services Corp. Class A
[{"type":"text","content":"ISC Recommends Shareholders DO NOT TENDER to Plantro’s Abusive and Coercive Mini-Tender\n\n\n\n\n\n “Mini-tender” is structured for Plantro, an offshore entity, to potentially take effective control of ISC without paying shareholders a control premium\n \n\n\n\n The Mini-tender deliberately sidesteps takeover bid rules and is both coercive and opportunistic\n \n\n\n\n Plantro is reportedly controlled by Matthew Proud, the former CEO of Dye & Durham, a company which was recently marked by significant share price erosion and governance controversy\n \n\n\n\n Offer of $27.25 per share undervalues ISC’s business plan, falls well below equity research analysts’ share price targets and attempts to take advantage of the current heightened volatility in the capital markets\n \n\n\n\n ISC corrects misstatements and exposes material omissions in Plantro’s disclosure\n \n\n\n\n ISC will explore all options to protect shareholders from Plantro’s opportunistic attempt at a backdoor power grab\n \n\n\n\n Shareholders looking for information or support with voting their shares, can contact Kingsdale Advisors at\n \n\n\n 1-800-485-6763\n \n\n\n (toll-free in North America), text or call\n \n\n\n 437-561-4995\n \n\n\n or email\n \n\n\n\n [email protected]\n \n\n\n\n\n\n\n REGINA, Saskatchewan, April 06, 2025 (GLOBE NEWSWIRE) -- Information Services Corporation (TSX: ISC) (“ISC” or the “Company”) today cautioned shareholders\n \n NOT\n \n to tender their shares in response to a coercive mini-tender offer (the “Mini-tender”) from Plantro Ltd. (“Plantro”), an offshore entity reportedly controlled by Matthew Proud, the former CEO of Dye & Durham Limited (“Dye & Durham”).\n \n\n ISC’s Board of Directors (the “Board”) formed a Special Committee of directors (the “Special Committee”) to review the Mini-tender. The Special Committee has concluded, with benefits of advice from its advisors, that the Mini-tender is an opportunistic and highly aggressive attempt to acquire up to 15% of ISC’s Class A Limited Voting Shares while securing proxy control over the majority of the Company without paying shareholders a control premium or being subject to the regulatory safeguards ...