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Integrated Electrical Services Adopts Shareholder Rights Plan To Protect Net Operating Loss Carryforward Assets

The Rights will expire on the earliest of (i) the close of business on December 31, 2017, (ii) the close of business on December 31, 2015 if stockholder approval of the Rights Plan has not been received by or on such date, (iii) adjournment of the third annual meeting of stockholders of the Company after the date of the Rights Plan if stockholder approval of the Rights Plan has not been received by such date, (iv) the repeal of Section 382 of the Internal Revenue Code and any successor statute or any other change of law if, as a result of such change of law, the Board of Directors determines that the Rights Plan is no longer necessary or desirable for the preservation of the Company’s tax benefits, and (v) the beginning of the first taxable year of the Company to which the Board of Directors determines that the Company’s tax benefits may not be carried forward.

IES will file the Rights Plan with the Securities and Exchange Commission on Form 8-K. The above description is only a summary; interested persons are urged to read the full Rights Plan as so filed with the Securities and Exchange Commission.

ABOUT INTEGRATED ELECTRICAL SERVICES, INC.

Integrated Electrical Services, Inc. is an infrastructure services company that enjoys leading positions in a broad range of markets for electrical and communications products and services. Our 2,500 employees serve clients throughout the United States. For more information about IES, please visit www.ies-corporate.com.

Copyright Business Wire 2010
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