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IBI Group Inc. Announces Independent Proxy Advisory Firms ISS and Glass Lewis Will Recommend Shareholder Vote on Acquisition by Arcadis in The Canadian Business Journal

TORONTO, Sept. 09, 2022 (GLOBE NEWSWIRE) — IBI Group Inc. (“IBI” or “we”), a globally integrated design and technology company, announced that Institutional Shareholder Services (“ISS”) and Glass Lewis & Co., LLC (“Glass Lewis”) encourages shareholders of IBI to vote. for A special resolution (“Agreement”) to approve the proposed acquisition by an affiliate of Arcadis NV of all of the Company’s common stock and Class B units of the IBI Group for cash consideration of CAD 19.50 per share (the “Acquisition”). Resolution”), as the case may be, Shares or Class B Units (“Consideration”).

Under the Acquisition, the consideration received by shareholders of the Company’s common stock and IBI Group’s Class B Units represents a premium of approximately 30% to the closing price of IBI’s common stock on the Toronto Stock Exchange on July 15, 2022. increase. Trading day prior to announcement.

The Arrangement Resolution will be voted on as a single class by holders of the Company’s common and non-voting shares at IBI’s next Extraordinary General Meeting of Shareholders, scheduled to be held on September 16, 2022 (“Meeting “). Additional details regarding the acquisition and arrangement resolution can be found in the company’s management information circular dated August 15, 2022, a copy of which can be found on his IBI issuer profile on SEDAR (www.sedar.com). Available at

Commenting on the favorable offer for the acquisition, Scott Stewart, Chief Executive Officer of IBI, said: for We will vote on the arrangement before the voting closes on September 14, 2022. ”

ISS and Glass Lewis are leading independent corporate governance analysis and proxy voting advisory firms that provide proxy voting recommendations to institutional investors. Each independent recommendation of ISS and Glass Lewis is intended to assist shareholder subscribers in making choices regarding their voting decisions. ISS and Glass Lewis each made their independent recommendations after careful consideration of the facts of the acquisition and the interests of the Company’s stockholders. IBI’s Board of Directors and single largest shareholder (IBI Group Management Partnership and related partnerships) also unanimously support the transaction.

Information about the meeting

The virtual-only meeting will take place via a live audio webcast on Friday, September 16, 2022 at 10:00 am Toronto time at https://web.lumiagm.com/427201281.

Shareholders of IBI will be notified by 10:00 am (Toronto time) on September 14, 2022 to submit their proxy documents in advance of the shareholders’ meeting.

Shareholders should carefully review the procedures outlined in the Management Information Circular and related meeting materials (“Meeting Materials”) so that they may vote before or during the meeting. Conference materials have been submitted by the company to his SEDAR and are available through the company profile at www.sedar.com. Meeting materials are also available on our website https://www.ibigroup.com/investor-relations/shareholder-information/..

The deadline for voting is 10:00 am (Toronto time) on September 14, 2022.

About IBI Group Co., Ltd.

IBI Group Inc. (TSX:IBG) is a technology-driven design firm with global architecture, engineering, planning and technology expertise across more than 60 offices and 3,400 professionals worldwide. For nearly 50 years, its dedicated professionals have helped clients create livable, sustainable and advanced urban environments. IBI Group believes that cities thrive through intelligent systems, sustainable buildings, efficient infrastructure, and humane design. Follow IBI Group on Twitter, LinkedIn, and Instagram.

For more information, please contact:

Stephen Taylor, CFO
Ibi Group Co., Ltd.
55 St Clair Ave West
Toronto, Ontario M5V 2Y7
Phone: 416-596-1930

Forward-Looking Statements

Certain statements in this news release are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company and its subsidiaries (including the IBI Group or the industry). may constitute “forward-looking” statements, including materially different from any future results, performance or achievements expressed or implied by such forward-looking statements; When used in this news release, such statements use words such as “may,” “will,” “expect,” “believe,” “plan,” and other similar terms. doing. These statements reflect management’s current expectations regarding future events and performance and speak only as of the date of this news release. New risk factors may arise from time to time, and our management does not assess the extent to which any or all of these risk factors, or any combination of factors, could cause our actual results, performance or achievements. cannot be predicted. They differ materially from those contained in the forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as predictions of actual results. Although the forward-looking statements contained in this news release are based on what management believes to be reasonable, investors are assured that actual results will be consistent with these forward-looking statements. I can not do it.

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IBI Group Inc. Announces Independent Proxy Advisory Firms ISS and Glass Lewis Will Recommend Shareholder Vote on Acquisition by Arcadis in The Canadian Business Journal

Source link IBI Group Inc. Announces Independent Proxy Advisory Firms ISS and Glass Lewis Will Recommend Shareholder Vote on Acquisition by Arcadis in The Canadian Business Journal

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