TORONTO, April 25, 2024 /CNW/ – Dye & Durham Limited (“Dye & Durham” or the “Company“), (TSX: DND) one of the world’s largest providers of cloud-based legal practice management software designed to make managing a law firm, organizing cases, and collaborating with clients easy, today responded to a public letter issued by Engine Capital LP (“Engine“).
The board of directors (the “Board“) has patiently engaged with Engine and its joint actors over the past several months. Unfortunately, despite the best efforts of the Board, Engine continues to display a stunning lack of understanding of the key value drivers of Dye & Durham’s business. Engine’s letter grossly mischaracterizes the Company’s track record of value creation, operational efficiency, and approach to capital allocation, and is reflective of their superficial understanding of the business, its history and its future. Engine’s letter contains many basic factual errors.
Dye & Durham is performing extremely well. The Board and management team are aligned with shareholders, and continue to drive disciplined execution and opportunities to enhance long term shareholder value. The Company has done this while ensuring it has a robust capital structure that preserves Dye & Durham’s financial flexibility. The Board is committed to acting in the best interests of all of the Company’s stakeholders and, we will continue to welcome the opportunity to continue to engage in good faith with all shareholders.
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. 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
For further information: Huss Hirji, VP, Investor Relations, Dye & Durham Limited, Email: [email protected], Phone: 647-323-7193
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