ISC Champions Shareholder Interests Against Plantro's Tender
ISC Addresses Misstatements by Plantro and Reaffirms Shareholder Guidance
Information Services Corporation (TSX: ISC), widely known as ISC, has taken a proactive stance in tackling various misstatements made by Plantro Ltd. that seem aimed at misleading shareholders. In a spirit of continued constructive engagement with Plantro, ISC is reiterating its strong recommendation to reject the recent mini-tender offer from Plantro.
Addressing Key Misstatements from Plantro
Contested statements have arisen from Plantro's news releases, rife with factual inaccuracies intended to create misunderstandings among ISC shareholders. One of the main concerns is the portrayal of ISC's readiness to engage. Despite Plantro's attempt to engage with ISC, their actions suggested urgency in launching the mini-tender without allowing for adequate dialogue and review time, hindering effective communication. ISC has, however, demonstrated a readiness to engage constructively even in light of these actions.
Capital Strategy Clarified
Another noteworthy point raised by Plantro includes claims regarding ISC's $275 million preliminary base shelf prospectus. Contrary to Plantro's interpretation, this filing simply maintains an essential framework for potential capital management and does not inherently indicate a decision to dilute shareholder equity. Instead, it reflects standard procedures for public companies, allowing avenues for financing when advantageous.
Financial Stability Underline
Plantro's characterization of ISC as facing fiscal challenges is a gross misrepresentation of the facts. Since going public, ISC has successfully integrated multiple acquisitions, bolstering its financial stability by significantly increasing adjusted EBITDA from approximately $34 million in 2013 to nearly $90 million in 2024. This growth strategy not only diversifies the company's portfolio but also underscores its strong market position.
ISC's Performance Highlights
The performance of ISC speaks volumes, with total shareholder returns exceeding 209 percent since its initial public offering, substantially outpacing the S&P/TSX SmallCap Index. ISC's management team has implemented effective strategies that have consistently driven performance and shareholder value.
Future Growth and Strategic Plans
Having outlined a robust plan for future growth, ISC aims to double its revenue and adjusted EBITDA by 2028, targeting $425 million in revenue and $145 million in adjusted EBITDA. This anticipated growth, framed by their current financial strategies, is expected to yield lucrative returns on investment, far exceeding those currently offered by Plantro. Progress, including record outcomes in 2024, reinforces that ISC is on a solid path towards fulfilling its ambitious milestones.
Deep Commitment to Governance and Shareholder Communication
As a publicly traded company, ISC prides itself on high standards of governance, prioritizing transparent reporting that earns the trust of both analysts and shareholders. Over the years, the company's Board has undergone regular renewal, adopting modern recruitment methods to maintain its effectiveness and align with changing market dynamics.
Highlighting the Mini-Tender's Inadequacies
Plantro's mini-tender offer remains problematic, revealing attempts to secure a larger voting influence than their financial commitment warrants. The deceptive practices surrounding this offer do not align with responsible investment principles and reflect poorly on Plantro's credibility as a long-term investor.
ISC urges shareholders to reject the mini-tender offer decisively. The deadline for share voting is approaching, with the final opportunity to voice your decision is set for the upcoming annual general meeting. ISC advises all shareholders to act promptly to support the company's strategic direction.
Frequently Asked Questions
What is ISC's current position on Plantro's mini-tender offer?
ISC firmly recommends rejecting Plantro's mini-tender offer, viewing it as misleading and detrimental to shareholder interests.
How has ISC performed since going public?
Since its IPO, ISC has achieved total shareholder returns of 209 percent, surpassing the S&P/TSX SmallCap Index.
What are ISC's future revenue targets?
ISC aims to double its revenue to $425 million and its adjusted EBITDA to $145 million by 2028 as part of its growth plan.
How does ISC prioritize shareholder engagement?
ISC is committed to transparent stakeholder dialogue, actively responding to shareholder inquiries, and encouraging constructive discussions.
Who should shareholders contact for help with voting?
Shareholders may reach out to Kingsdale Advisors for assistance with voting procedures via their toll-free number or email.
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