TORONTO, Sept. 26, 2025 /CNW/ – Dye & Durham Limited (the “Company” or “Dye & Durham“) (TSX: DND), a leading provider of cloud-based legal practice management software, today announced that it has obtained a waiver under its senior credit agreement to provide the Company with additional time, until December 1, 2025, to file its audited consolidated financial statements for the fiscal year ended June 30, 2025 (the “FY 2025 Financial Statements“), together with the related management’s discussion and analysis and CEO and CFO certificates (together, the “Annual Filings“), without triggering a default. No waivers or amendments are required under the Company’s other debt instruments before December 1, 2025, and the waiver also ensures Dye & Durham will continue to have full access to liquidity under its revolving credit facility during the extended period for delivery of the FY 2025 Financial Statements.
As previously disclosed in the Company’s press release dated September 15, 2025, the timing delay in filing the Annual Filings relates to an ongoing issue-oriented review by the Ontario Securities Commission (the “OSC“). Dye & Durham is working closely with its advisors to respond to the OSC’s inquiries, while in parallel working to complete the audit of the FY 2025 Financial Statements, so the Annual Filings can be filed promptly once the OSC review is completed. Importantly, at this time the Company does not expect any impact to its previously reported results, including cash or Adjusted EBITDA.
“We are pleased to have secured this waiver under our senior credit agreement, which provides us with the time and flexibility needed to advance the OSC review process and complete the audit of the FY 2025 Financial Statements,” said Chief Executive Officer, George Tsivin. “The support of our lenders underscores their confidence in the strength of our business and our long-term outlook. Our customer-first strategic reset is centered on delivering modern, integrated products and exemplary service that create real value for clients. At the same time, we remain firmly focused on reducing leverage, strengthening our balance sheet, and operating with greater efficiency to ensure long-term sustainable performance and shareholder value creation.”
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 www.dyedurham.com.
Forward-Looking Statements
This press release may contain forward-looking information and forward-looking statements 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. 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.
Specifically, statements regarding Dye & Durham’s Annual Filings, the timeline for filing the Annual Filings, the impact of the potential delay in filing the Annual Filings on the Company’s debt obligations, the process for completing the OSC review and the audit of the FY 2025 Financial Statements, the Company’s focus on reducing leverage and strengthening its balance sheet, the Company’s goal of operating with greater efficiency, and the Company’s long-term outlook are forward-looking statements. The foregoing demonstrates Dye & Durham’s objectives, which are not guarantees or assurances, but are based on the implementation of certain specific actions. The forward-looking information is based on management’s opinions, estimates and assumptions, including, but not limited to, that the Company will be able to effectively respond to the OSC review letter, complete the OSC review process and audit process for the FY 2025 Financial Statements, and complete and file the Annual Filings within a reasonable period of time and, in any event, during the extended period for delivery of the FY 2025 Financial Statements under the Company’s senior credit agreement.
While these opinions, estimates and assumptions are considered by Dye & Durham to be appropriate and reasonable in the circumstances as of the date of this press release, they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: there being a delay in the Company’s management completing its work; the Company not receiving the temporary and voluntary management cease trade order that it has applied to the OSC for; the Company being unable to cure any potential default in respect of its senior debt; the Company being unable to file the Annual Filings during the extended period for delivery of the FY 2025 Financial Statements under the Company’s senior credit agreement, and the factors discussed under “Risk Factors” in the Company’s most recent Annual Information Form and under the heading “Risks and Uncertainties” in the Company’s most recent Management’s Discussion and Analysis, which are available on the Company’s profile on SEDAR+ at www.sedarplus.ca. If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information.
There can be no assurance that any forward-looking information or forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents Dye & Durham’s expectations as of the date specified herein and are subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information or to publicly announce the results of any revisions to any of those statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.
SOURCE Dye & Durham Limited
FOR FURTHER INFORMATION, PLEASE CONTACT: Carmela Antolino, Director, Communications, Dye & Durham Limited, Email: [email protected]; Maggie MacDougall, Investor Relations, Dye & Durham Limited, Email: [email protected]
Go to Media