REGINA, Saskatchewan, June 04, 2025 (GLOBE NEWSWIRE) -- Information Services Corporation (TSX:ISC) (“ISC” or the “Company”) today announced that it has authorized, and the Toronto Stock Exchange (the “TSX”) has accepted a notice filed by ISC of its intention to make a normal course issuer bid (the “NCIB”), to purchase for cancellation up to 929,007 Class A shares of ISC (the “Class A Shares”) over the twelve-month period commencing on June 6, 2025 and ending no later than June 5, 2026, representing approximately 5% of the Class A Shares issued and outstanding as at June 2, 2025. As of such date, there were 18,580,146 Class A Shares issued and outstanding. Subject to the required regulatory approvals, the NCIB will be conducted through the facilities of the TSX or alternative trading systems in Canada, if eligible, or outside the facilities of the TSX pursuant to exemption orders issued by securities regulatory authorities. ISC may also purchase Class A Shares through private agreements or share repurchase programs if it receives an issuer bid exemption order permitting it to make such purchases. Any purchases of Class A Shares made by way of private agreements or under share repurchase programs may be at a discount to the prevailing market price as provided in the relevant issuer bid exemption order.
Class A Shares will be acquired under the NCIB at the prevailing market price at the time of acquisition, plus brokerage fees, except that any purchases made under an issuer bid exemption order will be at a discount to the prevailing market price as per the terms of the order. Any Class A Share purchased under the NCIB will be cancelled.
Under the NCIB, other than purchases made under block purchase exemptions, ISC will be allowed, subject to applicable securities laws, to purchase daily a maximum of 1,862 Class A Shares representing 25% of the average daily trading volume of 7,451 Class A Shares, as calculated per the TSX rules for the six-month period ended on May 31, 2025.
ISC’s decision to establish the NCIB reflects the Company’s confidence in its financial position and outlook, as well as how, from time to time, the market price of its Class A Shares does not adequately reflect their underlying value. The NCIB will provide the Company with the flexibility to acquire its Class A Shares in order to return capital to shareholders as part of its overall capital management strategy.
The decisions regarding the timing and size of purchases under the NCIB are subject to management’s discretion and will be based on various factors, including the Company’s capital and liquidity positions, accounting and regulatory considerations, the Company’s financial and operational performance, alternative uses of capital, the trading price of the Class A Shares and general market conditions. The NCIB does not obligate ISC to acquire a specific dollar amount or number of shares and may be modified or discontinued at any time. ISC has not repurchased any of its outstanding Class A Shares under a normal course issuer bid in the past 12 months.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information, forward-looking statements and financial outlooks (collectively, “forward-looking information”) within the meaning of applicable Canadian securities laws including, without limitation, statements regarding the NCIB and the intended purchase for cancellation of Class A Shares thereunder and references to the Company’s priority and capacity to return cash to shareholders. Such forward-looking information does not represent actual performance or results and are not guaranteed. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include risks relating to changes in economic, market and business conditions, changes in technology and customers’ demands and expectations, reliance on key customers and licences, dependence on key projects and clients, securing new business and fixed-price contracts, identification of viable growth opportunities, implementation of our growth strategy, competition, termination risks and other risks detailed from time to time in the filings made by the Company including those detailed in ISC’s Annual Information Form for the year ended December 31, 2024 and ISC’s unaudited Condensed Consolidated Financial Statements and Notes and Management’s Discussion and Analysis for the first quarter ended March 31, 2025, copies of which are filed on SEDAR+ at www.sedarplus.ca. The assumptions underlying, and expectations reflected in, such forward-looking information are based on assessments of management of ISC, and management of ISC believe that the assumptions and expectations reflected in this forward-looking information are reasonable in the circumstances.
The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities laws, ISC assumes no obligation to update or revise such information to reflect new events or circumstances.
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.
Investor Contact
Jonathan Hackshaw
Senior Director, Investor Relations & Capital Markets
Information Services Corporation
Toll Free: 1-855-341-8363 in North America or 1-306-798-1137
investor.relations@isc.ca
Media Contact
Jodi Bosnjak
External Communications Specialist
Toll Free: 1-855-341-8363 in North America or 1-306-798-1137
corp.communications@isc.ca
