ISC and SGEU Ratify New Collective Agreement
Information Services Corporation (TSX:ISV.TO) ("ISC" or the "Company") announced today that further to its news release on December 2, 2020, the membership of SGEU Local 2214 (SGEU) has ratified a new collective agreement with respect to ISC's in-scope employees.
"I would like to commend and congratulate both negotiating teams for finalising a new agreement through virtual meetings. This speaks to the deep understanding between ISC and SGEU as well as the spirit under which these negotiations were undertaken," said Jeff Stusek, President & CEO of ISC. "As always, we look forward to continuing our ongoing partnership with SGEU."
The previous collective agreement expired on September 30, 2019. The new six-year agreement, ending September 30, 2025, includes annual wage increases effective October 1 of each year, consisting of 0 per cent for 2019, 1.25 per cent retroactive to 2020, 1.50 per cent in 2021, 1.75 per cent in 2022 and two per cent in 2023 and 2024, respectively.
Headquartered in Canada, ISC(R) is the 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(R) is focused on sustaining its core business while pursuing new growth opportunities. The Class A Shares of ISC(R) trade on the Toronto Stock Exchange under the symbol ISV.
Cautionary Note Regarding Forward-Looking Information
This news release includes certain forward-looking information within the meaning of applicable Canadian securities legislation including, without limitation, with respect to the term of the new collective agreement and annual wage increases. 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 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, 2019 and ISC's Unaudited Condensed Consolidated interim Financial Statements and Notes and Management's Discussion and Analysis for the third quarter ended September 30, 2020, copies of which are filed on SEDAR at www.sedar.com. 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.
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