Dye & Durham Special Committee Appoints Financial Advisors

·3 min read

TORONTO, June 24, 2021 /CNW/ - Dye & Durham Limited ("Dye & Durham" or the "Company") (TSX: DND) announced today that the special committee of the board of directors of Dye & Durham, chaired by Brian Derksen, (the "Special Committee") has appointed J.P. Morgan and Scotiabank to act as its independent financial advisors in connection with its previous announcement that Dye & Durham has commenced a strategic review process in response to a proposal to acquire Dye & Durham received from a shareholder group led by certain members of management (the "Management Group"). The special committee has also engaged Osler, Hoskin & Harcourt LLP and Norton Rose Fulbright Canada LLP as its independent legal advisors in connection with the strategic review process.

The Special Committee continues to review the Management Group's proposal, which remains subject to a number of conditions, together with its financial and legal advisors. As previously announced, the Special Committee has a broad mandate to consider the Management Group's proposal, alternatives to such proposal, and maintaining the status quo, and continues to carry out its work.

The Special Committee has not made any decisions related to any specific strategic alternatives at this time and there can be no assurance that the exploration of strategic alternatives will result in a transaction.

It is the Special Committee's current intention not to disclose developments with respect to the strategic process unless and until the board of directors has approved a specific transaction, on the recommendation of the Special Committee, or otherwise determines that disclosure is necessary or appropriate.

About Dye & Durham

Dye & Durham Limited is a leading provider of cloud–based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals. Dye & Durham provides critical information services and workflows, which clients use to manage their process, information and regulatory requirements. The Company has operations in Canada, the United Kingdom, Ireland and Australia, and has a strong blue–chip customer base that includes law firms, financial service institutions, and government organizations. 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 Company being acquired or effecting a strategic transaction and management engaging with the board of directors to acquire the Company. 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 prospectus supplement of the Company dated November 18, 2020 to the short-form base shelf prospectus (including the documents incorporate therein) of the Company dated November 18, 2020. 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

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