Latest news with #Plantro
Yahoo
04-06-2025
- Business
- Yahoo
Plantro Ltd. Announces Completion of its Tender Offer for Shares of Information Services Corporation
ST. HELIER, Jersey, June 03, 2025 (GLOBE NEWSWIRE) -- Plantro Ltd. ('Plantro') today announced the completion of its all-cash tender offer (the 'Tender Offer') to acquire class A limited voting shares ('Class A Shares') in the capital of Information Services Corporation (TSX: ISC) ('ISC' or the 'Company') at a price of $30 per Class A Share. In connection with the completion of the Tender Offer, Plantro will take up and pay for Class A Shares that have been validly tendered and not withdrawn within three business days. Following the take up and payment for such Class A Shares, Plantro will own a total of 580,863 Class A Shares, representing approximately 3.13% of the Company's issued and outstanding Class A Shares. Payment for the purchased Class A Shares will be effected by Odyssey Trust Company, the depositary for the Tender Offer, in accordance with the Tender Offer and applicable law. Shareholders of ISC who have validly deposited and not withdrawn their Class A Shares are not required to take any further action to accept the Tender Offer. Plantro is pleased to have provided participating ISC shareholders an opportunity to receive liquidity and certainty of value for their Class A Shares. Plantro intends to remain an engaged shareholder, hold the ISC board of directors to account, and to continue to take actions to unlock value for the benefit of all shareholders. About PlantroPlantro is a privately held company, with an established track record of making successful investments in undervalued and high quality legal, financial, and information services businesses. Shareholder QuestionsShareholders of ISC who have questions with respect to the completed Tender Offer, please contact the depositary or the information agent for the Tender Offer at the contact details below: Depositary: Odyssey Trust CompanyToll Free (US & Canada): 1-888-290-1175Calls (All Regions): 587-885-0960Email: Information Agent: Carson ProxyNorth America Toll Free: 1-800-530-5189Local and Text: 416-751-2066Email: info@ Cautionary Statement Regarding Forward-Looking Information This press release may contain forward-looking information within the meaning of applicable securities laws, which reflects Plantro's current expectations regarding future events. Specifically, certain statements contained in this press release, including without limitation statements regarding the Tender Offer, and taking up and paying for Class A Shares deposited under the Tender Offer, contain 'forward-looking information' and are prospective in nature. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward looking terminology such as 'plans', 'targets', 'expects' or 'does not expect', 'is expected', 'an opportunity exists', 'is positioned', 'estimates', 'intends', 'assumes', 'anticipates' or 'does not anticipate' or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might', 'will' or 'will be taken', 'occur' or 'be achieved'. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent Plantro's current beliefs, expectations, estimates and projections regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Plantro's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Plantro does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Media Contact: Gagnier Communications Riyaz Lalani / Dan GagnierEmail: Plantro@ in to access your portfolio
Yahoo
03-06-2025
- Business
- Yahoo
Plantro Ltd. Announces Completion of its Tender Offer for Shares of Information Services Corporation
ST. HELIER, Jersey, June 03, 2025 (GLOBE NEWSWIRE) -- Plantro Ltd. ('Plantro') today announced the completion of its all-cash tender offer (the 'Tender Offer') to acquire class A limited voting shares ('Class A Shares') in the capital of Information Services Corporation (TSX: ISC) ('ISC' or the 'Company') at a price of $30 per Class A Share. In connection with the completion of the Tender Offer, Plantro will take up and pay for Class A Shares that have been validly tendered and not withdrawn within three business days. Following the take up and payment for such Class A Shares, Plantro will own a total of 580,863 Class A Shares, representing approximately 3.13% of the Company's issued and outstanding Class A Shares. Payment for the purchased Class A Shares will be effected by Odyssey Trust Company, the depositary for the Tender Offer, in accordance with the Tender Offer and applicable law. Shareholders of ISC who have validly deposited and not withdrawn their Class A Shares are not required to take any further action to accept the Tender Offer. Plantro is pleased to have provided participating ISC shareholders an opportunity to receive liquidity and certainty of value for their Class A Shares. Plantro intends to remain an engaged shareholder, hold the ISC board of directors to account, and to continue to take actions to unlock value for the benefit of all shareholders. About PlantroPlantro is a privately held company, with an established track record of making successful investments in undervalued and high quality legal, financial, and information services businesses. Shareholder QuestionsShareholders of ISC who have questions with respect to the completed Tender Offer, please contact the depositary or the information agent for the Tender Offer at the contact details below: Depositary: Odyssey Trust CompanyToll Free (US & Canada): 1-888-290-1175Calls (All Regions): 587-885-0960Email: Information Agent: Carson ProxyNorth America Toll Free: 1-800-530-5189Local and Text: 416-751-2066Email: info@ Cautionary Statement Regarding Forward-Looking Information This press release may contain forward-looking information within the meaning of applicable securities laws, which reflects Plantro's current expectations regarding future events. Specifically, certain statements contained in this press release, including without limitation statements regarding the Tender Offer, and taking up and paying for Class A Shares deposited under the Tender Offer, contain 'forward-looking information' and are prospective in nature. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward looking terminology such as 'plans', 'targets', 'expects' or 'does not expect', 'is expected', 'an opportunity exists', 'is positioned', 'estimates', 'intends', 'assumes', 'anticipates' or 'does not anticipate' or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might', 'will' or 'will be taken', 'occur' or 'be achieved'. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent Plantro's current beliefs, expectations, estimates and projections regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Plantro's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Plantro does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Media Contact: Gagnier Communications Riyaz Lalani / Dan GagnierEmail: Plantro@
Reuters
20-05-2025
- Business
- Reuters
Former Dye & Durham CEO wants changes, says he may call special meeting
NEW YORK, May 20 (Reuters) - Former Dye & Durham ( opens new tab Chief Executive Officer Matthew Proud told the Canadian legal software maker he is ready to call a special shareholder meeting unless the board considers changes he is proposing, according to a letter seen by Reuters. Plantro Ltd, a company controlled by Proud which owns 12% of Dye & Durham, urged the board in a letter sent on Tuesday to stop searching for a new CEO and give the job to the interim chief, Sid Singh. It also wants the board to add four new directors, divest the financial services division, and later this year begin work on selling the remaining core business. The board currently has seven directors. If the board refuses, "Plantro is prepared to requisition a special shareholder meeting to nominate a majority slate of independent, highly qualified directors with proven Canadian public company experience and institutional knowledge of the company," the letter said. Plantro said it is ready to "engage constructively," but also said the board has only until the close of business on Thursday to respond to its letter. A representative for Dye & Durham was not immediately available for comment. Proud, who stepped down as CEO six months ago, is ratcheting up pressure days after the company reported third quarter fiscal 2025 earnings, and its stock price tumbled 50% in the last six months, valuing the company at roughly $441 million. At December's annual meeting, activist investor Engine Capital won control of the board through a proxy fight. Even with new directors, the letter said investors are "in limbo" because the board failed to offer a vision for the future, has not explained past performance, and is resisting a "sale process that could generate returns for all shareholders." The company acknowledged in February it had received an unsolicited takeover bid for C$20 a share but it was not engaging with the party. Dye & Durham last year hired Goldman Sachs (GS.N), opens new tab as a strategic adviser to review options but in November said it was pausing its review after feedback from shareholders.
Yahoo
20-05-2025
- Business
- Yahoo
Former Dye & Durham CEO wants changes, says he may call special meeting
By Svea Herbst-Bayliss NEW YORK (Reuters) - Former Dye & Durham Chief Executive Officer Matthew Proud told the Canadian legal software maker he is ready to call a special shareholder meeting unless the board considers changes he is proposing, according to a letter seen by Reuters. Plantro Ltd, a company controlled by Proud which owns 12% of Dye & Durham, urged the board in a letter sent on Tuesday to stop searching for a new CEO and give the job to the interim chief, Sid Singh. It also wants the board to add four new directors, divest the financial services division, and later this year begin work on selling the remaining core business. The board currently has seven directors. If the board refuses, "Plantro is prepared to requisition a special shareholder meeting to nominate a majority slate of independent, highly qualified directors with proven Canadian public company experience and institutional knowledge of the company," the letter said. Plantro said it is ready to "engage constructively," but also said the board has only until the close of business on Thursday to respond to its letter. A representative for Dye & Durham was not immediately available for comment. Proud, who stepped down as CEO six months ago, is ratcheting up pressure days after the company reported third quarter fiscal 2025 earnings, and its stock price tumbled 50% in the last six months, valuing the company at roughly $441 million. At December's annual meeting, activist investor Engine Capital won control of the board through a proxy fight. Even with new directors, the letter said investors are "in limbo" because the board failed to offer a vision for the future, has not explained past performance, and is resisting a "sale process that could generate returns for all shareholders." The company acknowledged in February it had received an unsolicited takeover bid for C$20 a share but it was not engaging with the party. Dye & Durham last year hired Goldman Sachs as a strategic adviser to review options but in November said it was pausing its review after feedback from shareholders. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-05-2025
- Business
- Yahoo
ISC Releases Investor Presentation Highlighting A Proven Model for Value Creation
ISC reaffirms its commitment to long-term shareholder value creation and disciplined capital allocation; responds to Plantro's incorrect and flawed assertions Analysis demonstrates that ISC's prudent and disciplined approach to growth and capital allocation has served all shareholders well, outperforming the S&P TSX Small Cap Index since the IPO in July 2013 ISC remains focused on performance, not provocation REGINA, Saskatchewan, May 12, 2025 (GLOBE NEWSWIRE) -- Information Services Corporation (TSX: ISC) ('ISC' or the 'Company') today released an investor presentation titled 'A Proven Model for Value Creation', which underscores the strength, stability and strategic vision that have defined ISC's track record over more than a decade. The presentation is available here on the Company's website. ISC has evolved into a diversified business with global scale, including a high-quality registry platform and a services segment delivering consistent, accretive growth. The Company's registry operations remain anchored by a long-term exclusive contract in Saskatchewan until 2053, providing stable, CPI-linked cash flows for nearly 30 years. The Company's disciplined M&A strategy has been supported entirely through balance sheet capacity. Since its IPO, ISC has: Significantly diversified its operations, which has led to nearly tripling its revenue and Adjusted EPS Executed against a proven and accretive M&A strategy that has delivered nearly $100 million in free cash flow generated by the Services segment since 2015 Achieved revenue compound annual growth rate ('CAGR') growth of ~13.6 per cent since 2015 Provided a clear roadmap for continuing growth Delivered a total shareholder return ('TSR') of 209 per cent, outperforming the S&P/TSX SmallCap Index since the IPO in July 2013 The Company remains committed to advancing a strategy grounded in stability, disciplined capital allocation and long-term shareholder value creation. To that end, ISC has released an investor presentation, available here on the Company's website. ISC remains focused on performance, not provocation. The Company is resilient and diversified, with an experienced board and leadership team committed to executing a value-driven plan. ISC will continue to act in the best interests of all shareholders. PLANTRO'S CAMPAIGN OF MISINFORMATION AND COERCION ISC believes that offshore entity Plantro Ltd.'s ('Plantro') repeated extensions to its unsolicited and undervalued Mini-tender offer (the 'Mini-tender') are a reflection of broad shareholder disinterest in the Mini-tender. ISC continues to recommend that shareholders Reject and Do Not Tender to Plantro's undervalued Mini-Tender. The Company also fundamentally disagrees with Plantro's assessment of the Company's strategy, governance and value creation. Plantro's presentation contains factual errors, several points and data that are selective and narrowly focused on building a particular narrative, and others that demonstrate a lack of understanding of the business, including ISC's approach to M&A and its compensation and incentive programs. In light of continued mischaracterizations by Plantro, ISC urges shareholders to access accurate information through ISC's public disclosure and filings available on ISC's website at and under ISC's profile on SEDAR+ at It is unfortunate that Plantro has pursued a path that undermined engagement from the outset. ISC is and has always demonstrated genuine interest in having constructive conversations with its shareholders and other stakeholders. Notwithstanding that Plantro did not engage at all with ISC, constructively or otherwise, ahead of its Mini-tender, the Company attempted to engage in good-faith dialogue with Plantro. ISC APPRECIATES BROAD SHAREHOLDER SUPPORT AMID DISTRACTIONS The Company wants to acknowledge and thank its many shareholders for their continued support; it is not something that is taken for granted. ISC has had, and continues to have, meaningful dialogue with all stakeholders as we look forward to the future success of the Company. Sifting through the noise and the distractions and being attentive to constructive and impactful suggestions will continue to improve the business and the returns to shareholders. Finally, and further to our focus on performance, the Company does not intend to continue a public dispute with either Plantro or Matthew Proud, unless it determines that disclosure is warranted due to further misinformation by Plantro or in accordance with the requirements of applicable securities law. Instead, and as always, ISC remains committed and prepared to engage with shareholders and interested investors who wish to have constructive and good faith dialogue with us. AdvisorsISC has engaged Kingsdale Advisors as its strategic shareholder and communications advisor, Stikeman Elliott LLP as legal advisor, and RBC Capital Markets as financial advisor. About ISC®Headquartered in Canada, ISC is a leading provider of registry and information management services for public data and records. Throughout our history, we have delivered value to our clients by providing solutions to manage, secure and administer information through our Registry Operations, Services and Technology Solutions segments. ISC is focused on sustaining its core business while pursuing new growth opportunities. The Class A Shares of ISC trade on the Toronto Stock Exchange under the symbol ISC. Cautionary Note Regarding Forward-Looking InformationThis news release contains forward-looking information within the meaning of applicable Canadian securities laws including, without limitation, statements related to ISC's continuing growth, its strategy, its focus on performance, its commitment to executing a value-driven plan, acting in the best interests of shareholders, its interest in constructive conversations with stakeholders and its intentions in relation to Plantro Ltd. or Matthew Proud. Investor ContactJonathan HackshawSenior Director, Investor Relations & Capital MarketsToll Free: 1-855-341-8363 in North America or Media ContactAquin GeorgeKingsdale Advisors1-416-644-4031ageorge@ in to access your portfolio
