Info Services says review isn't because of Plantro

Executive Summary

• Information Services Corp. (ISC) issued a public clarification to counter mischaracterizations by shareholder Plantro regarding the company's ongoing strategic review.
• ISC confirmed that the strategic review was initiated by its Board of Directors with the support of its largest shareholder, Crown Investments Corp., and was not the result of any agreement with Plantro.
• The company acknowledged Plantro's withdrawal of a requisition for a special meeting of shareholders, allowing ISC to proceed with its independent review process without distraction.

Key Details

• Strategic Review Origin: The review was initiated by ISC's Board of Directors with support from Crown Investments Corp. of Saskatchewan (the company's largest shareholder).
• Dispute with Plantro: ISC explicitly denied Plantro's assertion that its actions led to the strategic review, stating that Plantro's privately requisitioned special meeting did not include any proposal for such a review.
• Shareholder Meeting Withdrawal: Plantro withdrew its requisition for a special meeting of shareholders, a move ISC stated enables the company to conduct a "robust process" without distraction.
• Strategic Goals: ISC remains committed to an independent process aimed at enhancing shareholder value through disciplined growth, operational excellence, and potential portfolio optimization.
• Disclaimer: ISC cautioned that there is no assurance the strategic review will result in a transaction, nor any assurance regarding the terms, timing, or completion of any potential transaction.

Notable Quotes

• "Plantro's assertion that its actions have led the company to embark on a strategic review is inaccurate."
• "Notwithstanding Plantro's mischaracterizations, the company appreciates its support of the strategic review and for withdrawing the requisition for a special meeting of shareholders. This enables the company to conduct a robust process and proceed without distraction."