Information Services Corporation

Information Services Corporation
Crown Investments Corporation of Saskatchewan

Crown Investments Corporation of Saskatchewan

June 27, 2013 19:20 ET

Information Services Corporation Announces Filing of Final Prospectus and Pricing of Initial Public Offering of Class A Limited Voting Shares

REGINA, SASKATCHEWAN--(Marketwired - June 27, 2013) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Information Services Corporation ("ISC" or the "Company") and Crown Investments Corporation of Saskatchewan ("CIC" or the "Selling Shareholder") announce that ISC has filed a final prospectus dated June 27, 2013 with respect to an initial public offering (the "Offering") by way of secondary offering of Class A Limited Voting Shares ("Class A Shares") with the securities regulatory authorities of all provinces and territories in Canada and, ISC and CIC have entered into an underwriting agreement for the sale by CIC of 10,500,000 Class A Shares at a price of C$14.00 per share (the "Offering Price"), for total gross proceeds of C$147 million.

The Toronto Stock Exchange ("TSX") has conditionally approved the listing of the Class A Shares, subject to ISC fulfilling all of the customary TSX requirements. Trading of the Class A Shares under the symbol "ISV" is expected to commence on the closing date, on or about July 9, 2013 (the "Closing Date"). The closing is subject to customary closing conditions. ISC has granted the underwriters an Over-Allotment Option, for a period of 30 days from the Closing Date, to purchase up to an additional 1,575,000 Class A Shares at the Offering Price (the "Additional Shares").

ISC will not receive any proceeds from the Offering. A copy of the final prospectus will be available on SEDAR (www.sedar.com) by searching Information Services Corporation.

Immediately following completion of the Offering, the Selling Shareholder will continue to hold 7,000,000 Class A Shares representing approximately 40% of the issued and outstanding Class A Shares. If the Over-Allotment Option is exercised in full, the Selling Shareholder will hold 5,425,000 Class A Shares representing approximately 31% of the issued and outstanding Class A Shares.

As part of the plan of distribution for the Offering, up to 45% of the Class A Shares were made available to Saskatchewan residents, and up to 5% were made available to ISC employees. Demand within the Province for the Offering was strong and as a result, 45% of the Offering will be allocated to Saskatchewan residents. In addition, more than 270 ISC employees, representing approximately 80% of ISC's workforce are expected to become shareholders in the Company on the Closing Date.

The Offering is being made through a syndicate of underwriters led by RBC Capital Markets acting as Sole Bookrunner, CIBC acting as co-lead and including BMO Capital Markets, Scotiabank, TD Securities Inc., GMP Securities L.P., National Bank Financial Inc., Canaccord Genuity Corp., Dundee Securities Ltd., Mackie Research Capital Corporation, Manulife Securities Incorporated, MGI Securities Inc. and PI Financial Corp.

ISC is a provider of registry and information services to the province of Saskatchewan. The Company is the exclusive provider of the Land Titles Registry, Land Surveys Directory, Personal Property Registry and Corporate Registry in Saskatchewan, which are key supporters of economic activity in the province.

Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation, including statements respecting the completion of the offering and the use of offering proceeds. 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. In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, ISC assumes no obligation to update or revise such information to reflect new events or circumstances.

The securities of ISC have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Contact Information

  • Information Services Corporation
    Angela Bethune
    Manager, Corporate Communications
    306-798-4147
    angela.bethune@isc.ca