- Value Creation Plan outlines path for driving sustained
value for all stakeholders, and illustrates Dye & Durham's
track record of capital allocation
- Dye & Durham's nominees have the right mix of skills,
experience, and expertise to support the Company's long-term value
and growth trajectory
- Company to hold Investor Briefing in early December
TORONTO, Nov. 12,
2024 /CNW/ - Dye & Durham Limited ("Dye &
Durham" or the "Company") (TSX: DND) today
announced the release of a detailed presentation to shareholders
that outlines Dye & Durham's 'Value Creation Plan', to
continue driving sustainable long term value for all
stakeholders.
The presentation reviews Dye & Durham's track record of
allocating capital, building global scale through an intentional
and deliberate process, and its transition into a global SaaS
leader. The presentation outlines Dye & Durham's value drivers
and the near-term growth opportunities that it is executing
upon.
The Value Creation Plan presentation to shareholders can be
found in the Investors section of the Company's website, and will
be filed on SEDAR+ under the Company's profile
at www.sedarplus.ca..
Dye & Durham looks forward to reviewing its presentation
with shareholders and intends to hold an Investor Briefing in early
December. Further details with respect to timing and location will
be provided prior to the event.
In addition, Dye & Durham is pleased to announce the seven
highly qualified individuals (the "Nominees") nominated by
its board of directors (the "Board") for election at the
Company's 2024 annual and special meeting of shareholders (the
"Annual Meeting") scheduled for December 17, 2024.
The Nominees represent a substantial refreshment of the
Board since the 2023 annual meeting, balanced by the retention of
critical institutional memory. The Nominees are the outcome of
extensive engagement with shareholders and include individuals
recommended by shareholders; they are experienced leaders who
understand Dye & Durham's business and have proven track
records in software, technology, capital allocation, accounting,
and corporate governance. The Nominees possess the necessary
skills, experience, and fresh shareholder focused perspective to
support the Company's continued disciplined execution of its
strategy.
Dye & Durham's nominees:
- Colleen Moorehead,
Independent Chair – Ms. Moorehead is a respected business
leader with senior management experience in financial services,
technology, business, and web-based services, and she is skilled at
evaluating business development opportunities and scaling
companies. She is the former Chief Client Officer at Osler, Hoskin & Harcourt LLP, the founder,
former director and president of E*TRADE Canada, current operating advisor of Vertu
Capital, and a member of the advisory board of INovia Venture
Capital. She has also held several other senior roles in the
financial services industry that spans over 35 years.
- Matthew Proud – Mr. Proud
is Dye & Durham's Global Chief Executive Officer, a position he
has held since 2014, when he was Chief Executive Officer of the
predecessor to the Company. Mr. Proud's extensive business and
operations experience has been the driving force behind the
Company's growth. He is passionate about the continual
reinforcement of the Company's vision, values, and goals. Mr. Proud
was recognized as one of Canada's
Top 40 Under 40.
- Mark Ernst – Mr. Ernst
has served as the Managing Partner of Bellevue Capital LLC, a
private investment firm, since May
2018. Prior to joining Bellevue, Mr. Ernst served as Executive Vice
President and Chief Operating Officer at Fiserv, Inc., a financial
services technology company, from January
2011 to April 2018, where he
had oversight responsibility for the major operating businesses and
support organizations of the enterprise, with a focus on
enterprise-wide quality improvement and product management efforts.
Mr. Ernst previously served as Deputy Commissioner at the Internal
Revenue Service from January 2009 to
November 2010. Mr. Ernst served in
various executive roles at H&R Block, Inc., including as
Chairman, President, and Chief Executive Officer from 2001 to 2007
and as Chief Operating Officer from 1998 to 2000. Prior to joining
H&R Block, Mr. Ernst served in various executive roles at
American Express Company. Mr. Ernst currently serves on the board
of directors of Lending Tree, Inc. (Nasdaq: TREE) and as Chairman
of the board of Trustees of Drake
University. He has previously served on the boards of
Avantax, Inc. (NASDAQ: AVTA), Great Plains Energy Incorporated (now
Evergy Nasdaq: EVRG), Knight-Ridder Inc. (formerly NYSE: KRI) and
SAIA, Inc. (Nasdaq: SAIA). Mr. Ernst received bachelor's degrees in
finance and accounting from Drake
University and an M.B.A. From the University of Chicago Booth School of Business,
where he has served on its Advisory Board.
- David Oppenheimer – Mr.
Oppenheimer has more than 25 years of executive experience with
leading technology companies that have helped reshape industries.
He currently serves as the President and Chief Financial Officer at
Oppenheimer Advisors, where he advises CEOs, CFOs and boards on
capital markets and financial strategy. He is also Partner and
Chief Financial Officer of Verissimo Ventures, a pre-seed and seed
venture fund, and serves on the board of Lumus Ltd. Prior to this,
Mr. Oppenheimer has been the CFO of several public and private
technology companies including Udemy, Planet Labs, Ebates,
ServiceSource and Digital Impact. Mr. Oppenheimer has additionally
served on the board of directors and audit committee of HotChalk,
Inc., an education software company, Quotient Technology Inc., an
advertising technology company and the Olympic Club, a SF based
non-profit athletic organization.
- Edward D. (Ted) Prittie –
Mr. Prittie was formerly a member of the senior executive team of
Iron Mountain as SVP Emerging Markets. During his time at Iron
Mountain, he was responsible for Iron Mountain entering 15 new
countries and acquiring 35+ companies. He is the Chief Executive
Officer of RIM Incorporated, a joint venture with Iron Mountain
that is focused on building the leading document storage business
in Sub-Saharan Africa. Prior to founding RIM, Mr. Prittie was the
founder of DocuGuard Ltd., the leading document storage company in
Eastern Europe. DocuGuard was
acquired by Iron Mountain in 2004.
- Luke McCormick – Mr.
McCormick is the Managing Director of Investments and a Partner at
Generation Capital, a Toronto-based private investment management
firm. He is responsible for sourcing investment opportunities and
managing the firm's global portfolio across all asset classes,
including public equity, private equity, real estate, and venture
capital. In this capacity he has served on the board of directors
for several private companies and on the limited partner advisory
committees for private equity and venture capital firms. He
currently serves on the board of Framespace Solutions and as a
board observer for Blackbird.ai. Prior to joining Generation
Capital, Mr. McCormick worked at Brookfield Renewable Energy
Partners.
- Eric Shahinian – Mr.
Shahinian has over a decade of experience as a successful investor
and capital allocator. He founded Camac Partners, LLC, which
manages investments for institutional and high net worth investors,
in 2011 and has served as its managing member since that time.
Prior to this, he held roles at Kingstown Capital Management L.P.
and Khan Resources, Inc. Mr. Shahinian has been a director of
Liberated Syndication Inc., a world-leading podcast hosting
network, since October 2019; he is
also the chair of the compensation committee. Mr. Shahinian is also
a director or board observer of multiple private companies which
Camac Partners, LLC has a stake in.
The Company intends to file its Management Information Circular
(the "Circular") with the Canadian Securities Administrators
on SEDAR+ under the Company's profile at www.sedarplus.ca and will
be mailing copies of the Circular and applicable related Annual
Meeting materials (collectively, the "Meeting Materials") to
Shareholders of record as of November 7,
2024. The Circular will provide important information on the
business of the Annual Meeting, including Dye & Durham's Board,
as well as related matters such as voting procedures and how to
attend the Annual Meeting. Shareholders are urged to read the
Circular carefully and in its entirety. The Circular will also be
available on Company's website.
No Solicitation
This press release is for informational purposes only and is not
a solicitation of proxies. Any proxies solicited in respect of the
Annual Meeting will be solicited by the Company pursuant to the
Circular or as otherwise permitted by Canadian corporate and
securities laws.
Advisors
Dye & Durham has retained Goldman Sachs, as its strategic
advisor, Goodmans LLP and Groia & Company as its legal
advisors, and Gagnier Communications LLC and Sovereign Advisory
Inc. as its strategic communications advisors.
ABOUT DYE & DURHAM LIMITED
Dye & Durham Limited provides premiere 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
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
