ISC shareholders urged to vote for Plenary Americas all-cash deal
Information Services Corporation (ISC) received positive voting recommendations from ISS and Glass Lewis for its all-cash acquisition by a Plenary Americas subsidiary. The deal offers CAD$51.00 per share, a 55 per cent premium, and values ISC at approximately CAD$1.2 billion. Shareholders must vote by June 24, 2026, for the Special Meeting on June 26, 2026.
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Information Services Corporation (ISC) announced that leading independent proxy advisory firms Institutional Shareholder Services Inc. (ISS) and Glass, Lewis & Co. (Glass Lewis) have issued positive voting recommendations for the previously announced all-cash acquisition by a subsidiary of Plenary Americas. The transaction offers CAD$51.00 per Class A Limited Voting Share, representing a 55 per cent premium to ISC's unaffected trading price and valuing the company at approximately CAD$1.2 billion. This recommendation aligns with the unanimous endorsement of ISC's Board of Directors, excluding Government of Saskatchewan appointees who recused themselves.
Transaction Details and Voting Schedule
The arrangement agreement, announced on May 19, 2026, provides for the acquisition of ISC at the specified cash price, excluding shares held by certain senior management members who have entered into equity rollover agreements. The Special Meeting of Shareholders is scheduled for June 26, 2026, at 9:00 a.m. (Saskatchewan Time/CST). To be eligible to vote, shareholders must be on record as of the close of business on May 27, 2026. The deadline to vote in advance of the meeting is 9:00 a.m. on Wednesday, June 24, 2026.
| Event | Date | Time (Saskatchewan Time/CST) |
|---|---|---|
| Record Date | May 27, 2026 | Close of business |
| Voting Deadline | June 24, 2026 | 9:00 a.m. |
| Special Meeting | June 26, 2026 | 9:00 a.m. |
Transaction Rationale
ISC highlighted several factors supporting the transaction, including compelling value and immediate liquidity for shareholders, a robust strategic review process, and strong shareholder support. The company noted that the deal maintains ISC as a strong, independent Saskatchewan company and ensures continuity of leadership. Additionally, the transaction is supported by fairness opinions and committed financing, with the ability to respond to a superior proposal.
Meeting and Voting Instructions
The Special Meeting will be held in person at The Hotel Saskatchewan, Regency Ballroom, 2125 Victoria Avenue, Regina, SK. Shareholders can vote in person or prior to the meeting following instructions in the Management Information Circular. Those holding shares through an intermediary may face earlier deadlines for submitting voting instructions. The meeting will also be accessible online via ISC's investor relations website.
Shareholders seeking assistance with voting can contact ISC's strategic advisor, Kingsdale Advisors, by calling 1-800-485-6763 (Toll-free in North America), 1-437-561-4995 (Call and Text), or via email at contactus@kingsdaleadvisors.com .
What are the anticipated operational changes for ISC following the acquisition by Plenary Americas?
How will the transaction impact ISC's workforce and leadership structure in Saskatchewan?
What potential synergies or strategic benefits does Plenary Americas expect to gain from this acquisition?
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