- Net proceeds received at closing being used to reduce senior
debt
TORONTO, Aug. 10,
2023 /CNW/ - Dye & Durham Limited (TSX: DND)
("Dye & Durham" or the "Company"), 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 announced it has completed
the sale of TM Group (UK) Limited ("TM Group") to AURELIUS, a
globally active alternative investment firm.
As previously disclosed, Dye & Durham has sold TM Group for
total consideration of up to £91 million, subject to transaction
costs and certain adjustments. The net proceeds received by Dye
& Durham at closing are being used to reduce the company's
senior debt.
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. The company has operations
in Canada, the United Kingdom, Ireland,
and Australia. 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
the Company's current expectations regarding future events,
including with respect to the receipt of earn-out payments, and the
use of proceeds. 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 the Company'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 the Company's most recent
annual information form and management discussion and analysis. 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