Latest news with #Dye&Durham
Cision Canada
a day ago
- Business
- Cision Canada
DYE & DURHAM ISSUES STATEMENT IN RESPONSE TO ALLEGATIONS MADE BY FORMER CEO MATT PROUD
TORONTO, July 14, 2025 /CNW/ - Dye & Durham Limited ("Dye & Durham" or the "Company") (TSX: DND), a leading provider of cloud-based legal practice management software, issued the following statement in response to whistleblower allegations made by Plantro Ltd. ("Plantro"), a company associated with former CEO Matt Proud. "Dye & Durham takes all whistleblower complaints seriously and has strong processes in place to investigate them thoroughly and independently with third parties. Unfortunately, the release of this information today appears to be yet another attempt by Plantro to disparage and distract the Board of Directors (Board) and disrupt the turnaround progress that is underway from legacy issues created under the leadership of Matt Proud. The Board is concerned by Mr. Proud's claims of access to strictly confidential information and the public dissemination of that information, which appears to be motivated by Mr. Proud's own self-interest. If Mr. Proud's interests were aligned with those of other shareholders, he would have raised his concerns privately with the Board instead of making unsubstantiated public statements. The Board and management team remain committed to evaluating and implementing all options to accelerate value creation and deliver the best outcomes for shareholders, employees and customers." About Dye & Durham Limited 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. The company has operations in Canada, the United Kingdom, Ireland, Australia, and South Africa. Additional information can be found at 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", "appears", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In particular, statements regarding Dye & Durham's commitment to evaluating and implementing all options to accelerate value creation and deliver the best outcomes for shareholders, employees and customers are forward-looking statements. 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.
Business Insider
6 days ago
- Business
- Business Insider
Canaccord Genuity Sticks to Their Buy Rating for Dye & Durham (DND)
Canaccord Genuity analyst Robert Young maintained a Buy rating on Dye & Durham today and set a price target of C$14.50. The company's shares closed today at C$10.08. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. According to TipRanks, Young is a 5-star analyst with an average return of 15.7% and a 54.23% success rate. Young covers the Technology sector, focusing on stocks such as Dye & Durham, CGI, and Real Matters Inc. Currently, the analyst consensus on Dye & Durham is a Strong Buy with an average price target of C$16.33. Based on Dye & Durham's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$108.33 million and a GAAP net loss of C$21.66 million. In comparison, last year the company earned a revenue of C$107.32 million and had a GAAP net loss of C$21.79 million Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is neutral on the stock.
Yahoo
08-07-2025
- Business
- Yahoo
Dye & Durham stock jumps after shareholder calls for company sale
-- Dye & Durham Ltd (TSX:DND) stock rose 5.5% after major shareholder Plantro Ltd. requisitioned a special meeting to replace three board members and push for a sale of the company. Plantro, which owns approximately 11% of Dye & Durham, nominated three new directors and called for the removal of Board Chair Arnaud Ajdler and two other directors. The shareholder claims the current board has overseen the destruction of nearly $1 billion in shareholder value since December 2024. In its requisition, Plantro argued that remaining public "is no longer a viable option" for Dye & Durham and that "a full sale of the company is the only way to realize a control premium for current shareholders and restore stability in the business." The activist shareholder alleges the current board, influenced by what it calls the "Engine Activist Group" consisting of Engine Capital, EdgePoint Wealth Management, and OneMove Capital, has pursued a strategy of customer price cuts and overspending that has led to declining adjusted EBITDA, reduced cash flow, and rising debt. According to Plantro, the board has rejected multiple acquisition offers, including a $25 per share all-cash offer before the current board took control, Plantro's own $20 per share offer in February 2025, and reportedly an approximately $20 per share offer from Advent International in April 2025. Plantro's nominees include Brian J. Bidulka, former CFO of Research in Motion; David Danziger, a finance leader and corporate director; and Martha Vallance, former Chief Operating Officer of Dye & Durham. If elected, these nominees intend to "immediately pursue a well-governed and thoughtful process to sell the Company without delay to the buyer willing to pay the highest price." Related articles Dye & Durham stock jumps after shareholder calls for company sale TMC shares dip as Iceberg Research rebuts Ives upgrade Jefferies downgrades MP Materials as China eases rare earth restrictions
Cision Canada
08-07-2025
- Business
- Cision Canada
Dye & Durham Highlights New Leadership's Commitment to Advancing Turnaround Initiatives and Maximizing Value for Shareholders
New leadership shares strategy to enable the Company to evaluate value-maximizing options from a position of strength Shareholders Need Not Take Any Action in Response to Ex-CEO Matthew Proud's Meeting Requisition TORONTO, July 8, 2025 /CNW/ - Dye & Durham Limited ("Dye & Durham" or the "Company") (TSX: DND), a leading provider of cloud-based legal practice management software, today confirmed that Plantro Ltd. ("Plantro"), an investment vehicle overseen by former Dye & Durham CEO Matthew Proud, has submitted a requisition seeking a special meeting of shareholders (the "Special Meeting") for the purposes of reconstituting a meaningful portion of the Company's recently refreshed Board of Directors (the "Board"). Dye & Durham's Board is in the process of working with independent legal counsel and advisors to review the validity of the submitted requisition. The Company's shareholders need not take any action at this time. Since shareholders voted decisively to reconstitute the Board in December 2024 with highly qualified members, Dye & Durham has moved quickly to execute a focused turnaround for value creation. Led by a refreshed Board and management team, including CEO George Tsivin, CFO Avjit Kamboj and CPO Nikesh Patel, the Company is stabilizing operations, implementing best practice metrics and operational processes, improving customer experience and driving a sustainable go-to-market strategy. New leadership is focused on addressing a plethora of legacy issues, innovating across the product suite and charting a clear path to responsible deleveraging. After years of disruptive debt-fueled acquisitions, the focus has been on building durable customer relationships and creating long-term, profitable growth. In only six months, the Company has appointed new leadership and made significant investments to enhance its customer service, product and account management teams which is already yielding positive results. The Company's customer service response times have improved by 85% since January, and it has simultaneously increased both the quantity and quality of product releases, delivering over 200 product improvements while also fulfilling its commitment to product innovation in the British Columbia market with a dedicated team in the province. Dye & Durham's Board of Directors believes shareholders are best served by allowing new management to execute its strategy, which is gaining momentum and has already seen significant results. The Board and management team remain committed to evaluating and implementing all options to accelerate value creation and deliver the best long-term outcomes for shareholders, employees and customers. Shareholders are not required to take any action; however, we invite investors to engage with us to provide feedback about what they believe is best for the Company. A robust dialogue with investors is important to Dye & Durham's Board of Directors and management. About Dye & Durham Limited 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. The company has operations in Canada, the United Kingdom, Ireland, Australia, and South Africa. Additional information can be found at 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 particular, statements regarding Dye & Durham's intention to strengthen its business offerings and refine its strategy to deliver greater value for its customers are forward-looking statements. 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.
Winnipeg Free Press
07-07-2025
- Business
- Winnipeg Free Press
Dye & Durham shareholder pushes for sale of company, seeks board changes
TORONTO – A large shareholder of Dye & Durham Ltd. is pushing the company to put itself up for sale and seeking changes to its board of directors. Plantro Ltd., which says it holds about an 11 per cent stake in Dye & Durham, has requested a special meeting of shareholders and nominated three people to the company's board. It is seeking to add Brian Bidulka, David Danziger and Martha Vallance to the board. It wants the removal of board chair Arnaud Ajdler and directors Tracey Keates and Ritu Khanna. Activist investor Engine Capital successfully pushed for a shakeup at the company in December. Engine Capital's slate of nominees was appointed after the previous board resigned together ahead of a shareholder vote. However, Plantro says the Engine activist group and the board have pursued a misguided and haphazard strategy. Dye & Durham shares were up $1.28 at $11.22 in trading on the Toronto Stock Exchange just before noon. This report by The Canadian Press was first published July 7, 2025. Companies in this story: (TSX:DND)
