TORONTO, April 15,
2024 /CNW/ - Dye & Durham Limited ("Dye &
Durham" or the "Company"), (TSX: DND) today announced
the receipt a notice from Blacksheep Master Fund Limited c/o
Mourant Governance Services (Cayman) Limited ("Blacksheep"),
pursuant to which Blacksheep notified the Company that it may
nominate Alexis Fortune, Chief
Investment Officer of Blacksheep Fund Management for election to
the board of directors of the Company at the special meeting of
shareholders of the Company to be held on August 20, 2024 or at any adjournment or
postponement thereof (the "Meeting").
The Meeting was called in response to a shareholder requisition
(the "Requisition") submitted by Engine Capital LP
("Engine"), which calls for the Meeting for the purposes of
removing Brian L. Derksen,
Colleen Moorehead and Leslie A. O'Donoghue from the Company's board of
directors (the "Board") and electing Arnaud Ajdler,
Sanjay Nakra and Sharon Stern as their replacement. In total,
Engine and Blacksheep have put forward four nominees to Dye &
Durham's seven-person Board.
The Company and the Board are committed to acting in the best
interests of the Company and all of its stakeholders and, as
previously stated, welcome the opportunity to engage with all
shareholders.
Dye & Durham also announced today that, given the
aforementioned developments, it has retained Goldman Sachs as its
strategic adviser as it assesses its options with respect to the
foregoing matters.
The Company will continue to provide updates to shareholders on
any significant developments relating to the foregoing as required
and appropriate.
About Dye & Durham
Dye & Durham Limited provides premier practice management
solutions empowering legal professionals every day, delivers vital
data insights to support critical corporate transactions and
enables the essential payments infrastructure trusted by government
and financial institutions. Dye & Durham has operations in
Canada, the United Kingdom, Ireland, Australia and South
Africa.
Additional information can be found at www.dyedurham.com.
Forward-looking Statements
This press release may contain forward-looking information
within the meaning of applicable securities laws, which reflects
Dye & Durham's current expectations regarding future events. In
some cases, but not necessarily in all cases, forward-looking
statements can be identified by the use of forward looking
terminology such as "plans", "targets", "expects" or "does not
expect", "is expected", "an opportunity exists", "is positioned",
"estimates", "intends", "assumes", "anticipates" or "does not
anticipate" or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might", "will" or "will be taken", "occur" or "be
achieved". In addition, any statements that refer to expectations,
projections or other characterizations of future events or
circumstances contain forward-looking statements. Specifically,
forward-looking statements include, without limitation, statements
regarding the calling of the Meeting and matters related thereto.
Forward-looking statements are not historical facts, nor guarantees
or assurances of future performance but instead represent
management's current beliefs, expectations, estimates and
projections regarding future events and operating performance.
Forward-looking information is based on a number of assumptions
and is subject to a number of risks and uncertainties, many of
which are beyond Dye & Durham's control, which could cause
actual results and events to differ materially from those that are
disclosed in or implied by such forward-looking information. Such
risks and uncertainties include, but are not limited to, the
factors discussed under "Risk Factors" in Dye & Durham's most
recent annual information form. Dye & Durham does not undertake
any obligation to update such forward-looking information, whether
as a result of new information, future events or otherwise, except
as expressly required by applicable law.
SOURCE Dye & Durham Limited