Value Creation Plan outlines path for driving sustained value for all stakeholders, and illustrates Dye & Durham’s track record of capital allocation
TORONTO, ON–Dye & Durham Limited 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.
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.
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.
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