REGINA — The provincial government says it supports Information Services Corporation’s strategic review, but at the same time are reaffirming a commitment to "meeting the priorities of Saskatchewan people" as that takes place.
Earlier on Monday ISC announced they are launching a strategic review. According to their statement, this will consider a wide range of potential outcomes such as "asset divestments, acquisitions, transformative business combinations, or a sale of the Company."
The largest shareholder in ISC is the Crown Investments Corporation of Saskatchewan, the province's holding company for commercial Crown corporations.
In a news release Monday, the province states Crown Investments Corporation will continue to act on behalf of Saskatchewan people who own the “Golden Share”, which the province says secures ISC's head office location and jobs within Saskatchewan.
This ensures that “the people of Saskatchewan achieve the best result possible that may arise from the Strategic Review," they stated.
“The interest of Saskatchewan residents, the efficient delivery of the services, local jobs and opportunities for investment in the province will remain paramount considerations for the Government of Saskatchewan when evaluating the results of a Strategic Review."
The provincial government pointed to ISC as being a Saskatchewan success story. They note that a Master Services Agreement has been in place between the province and ISC since 2013 and was extended in 2023 for a 30 year term.
The province states that under that agreement ISC is exclusive manager and operator of the Saskatchewan Land Registry, the Saskatchewan Personal Property Registry, Land Surveys Directory and the Saskatchewan Corporate Registry.
According to ISC's news release, their board of directors are undertaking the “review of strategic alternatives to identify opportunities to maximize value for all shareholders.” A special committee of the board has been established to carry it out.
ISC also states it anticipates Crown Investments Corporation will “consider any outcome of the strategic review subject to provisions to protect the province’s best interests and Saskatchewan jobs.”
