Business
Plantro Ltd. Announces Premium All-Cash Tender Offer to Acquire up to 15% of Class A Limited Voting Shares of Information Services Corporation
Premium tender offer of $27.25 per Class A Share in cash for up to 2,777,342 Class A Shares, repr...
About this update from Information Services Corp. Class A
[{"type":"text","content":"Plantro Ltd. Announces Premium All-Cash Tender Offer to Acquire up to 15% of Class A Limited Voting Shares of Information Services Corporation\n\n\n\n\n Premium tender offer of $27.25 per Class A Share in cash for up to 2,777,342 Class A Shares, representing an attractive premium of approximately 9% to the trailing 10-day VWAP, for a total value of approximately $75.7 million.\n \n\n Plantro’s Tender Offer provides shareholders with an opportunity to receive cash consideration in a stock that has been highly illiquid for many years.\n \n\n Plantro is optimistic that the Board will recommend in favour of this opportunity for shareholders to receive liquidity for their stock at a premium to the market price and avoid entrenching behaviours that deprive shareholders of value.\n \n\n\n ST. MICHAEL, Barbados, April 02, 2025 (GLOBE NEWSWIRE) -- Plantro Ltd. (“\n \n Plantro\n \n ”), today announced an offer to acquire up to 2,777,342 Class A Limited Voting Shares (the “\n \n Class A Shares\n \n ”) in the capital of Information Services Corporation (TSX: ISC) (“\n \n ISC\n \n ” or the “\n \n Company\n \n ”), (the “\n \n Tender Offer\n \n ”) at a price of $27.25 per Class A Share, payable in cash (the “\n \n Tender Price\n \n ”). The Tender Price represents an attractive premium of approximately 10% to the closing price of the Class A Shares on March 31, 2025, and an approximately 9% premium to the volume-weighted average price (“\n \n VWAP\n \n ”) of the Class A Shares for the ten trading days preceding the announcement of the Tender Offer. The total value of the Tender Offer, if fully taken up, is approximately $75.7 million. The Tender Offer is not a “take-over bid” under Canadian securities laws.\n \n\n Shareholders who have questions with respect to the Tender Offer should contact Carson Proxy, information agent for the Tender Offer, at 1-800-530-5189 (North America Toll Free), 416-751-2066 (Local and Text), or by email at [email protected]. Tender Offer materials will be available on the Company’s SEDAR+ profile at\n \n www.sedarplus.ca\n \n .\n \n\n\n The Plantro Tender Offer\n \n\n\n The Tender Offer is open for acceptance by shareholders of the Company until 5:00 p.m. (Eastern Time) on April 11, 2...