11:00:46 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Dye & Durham Ltd
Symbol DND
Shares Issued 54,955,683
Close 2023-11-10 C$ 10.80
Market Cap C$ 593,521,376
Recent Sedar Documents

Dye & Durham puts "non-core" assets on the block

2023-11-13 08:00 ET - News Release

Mr. Matthew Proud reports

DYE & DURHAM ANNOUNCES STRATEGIC REVIEW OF NON-CORE ASSETS TO SIGNIFICANTLY EXPEDITE DELEVERAGING PLAN

Dye & Durham Ltd. has begun a strategic review of its non-core assets to significantly expedite its previously announced plan to reduce its leverage ratio.

The strategic review will include the examination of a variety of options intended to generate additional capital to deliver on the company's stated goal of reducing its leverage to less than four times total net debt to adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) as soon as possible. These options include the potential partial or complete sale of non-core assets, such as the company's financial services business, among others.

"Despite our strong business performance and liquidity position, we understand our shareholders would like us to reduce our leverage ratio. We strongly believe this strategic review will accelerate this process," said Dye & Durham chief executive officer Matthew Proud. "We are working closely with our financial and legal advisers to ensure the review is comprehensive, diligent and maximizes value."

Dye & Durham has retained Goldman Sachs and Canaccord Genuity Corp. as its financial advisers with respect to the strategic review of non-core assets.

There can be no assurance that the commencement of the strategic review of non-core assets will result in a transaction. It is the company's current intention not to disclose developments with respect to the strategic review process unless and until the board of directors has approved a specific transaction or otherwise determines that disclosure is necessary or appropriate.

About Dye & Durham Ltd.

Dye & Durham 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.

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