Information Agent

Issuers are increasing relying on Information Agent services during the tender or exchange period of an offer, whether the offer is friendly or unsolicited. The ability of an experienced Information agent to provide timely and accurate information is an invaluable resource not only in communicating with investors but to obtain market intelligence to guide issuers in the decision making process.

The experienced team of senior advisors at Laurel Hill will provide guidance from the initial search process to the conclusion of the offer. Activities we will monitor and advise upon:

• The search process. Ensuring the correct procedures have been followed to ensure all participants in the search process have been contacted to ensure complete penetration of the securityholder


• Review and provide suggestions to prepare the most effective communication via the Offer circular, Directors Circular and other written correspondence with holders to maximum response


• We will provide a detailed analysis of the investor base, highlighting the subtleties of each situation. We will structure a comprehensive solicitation program designed to get the greatest positive and cost-effective securityholder response


• We will provide an international toll free number to our bilingual North American retail solicitation call centre, ensuring retail securityholders have access to knowledgeable representatives that can answer any questions regarding the offer and tendering process. Issuers will receive pertinent investor sentiment as the offer period unfolds to effectively shape the tone and nature of any future communication. We will also make detailed recommendations on the merits of a strategic outbound call campaign to holders to raise awareness and response to the offer


• The Laurel Hill team will utilize its contacts and insight to obtain dynamic intelligence as to the holdings and tendering intentions of institutional holders. Laurel Hill will also proactively monitor the entire tender process to ensure that all intended deposits are received by the Depository prior to expiry


• Forecasting. Often tenders will only be received by the depository a day or two prior to the expiry making it extremely difficult for Issuers to have an early sense of anticipated tender level at expiry. We will use our extensive experience in the tendering process to obtain advance information as to tendering intentions and forecast future tenders, maintaining daily contact with institutional and arbitrage investors to monitor trading and tendering. Institutional feedback is compiled along with intelligence received daily from broker custodians. This allows us to produce a daily tender projection report as a leading indicator forecasting anticipated tenders to complement the lagging indicator of actual tenders received provided by the depositary reporting