공지 • Apr 02
Dye & Durham Limited Expands Identity Verification Options in Unity Practice Management Platform Dye & Durham Limited announced the enhancement of its Unity Practice Management platform by giving customers more choice with the integration of Treefort Identity Verification. The addition of Treefort's identity verification solution to Unity reflects Dye & Durham's commitment to offering legal professionals flexibility with how they manage client identification. By integrating Treefort, Unity clients can now select the option best suited to their workflow, client needs, and regulatory requirements. This expanded choice empowers legal professionals to streamline their processes, reduce reliance on manual checks or external tools, and seamlessly leverage advanced digital verification technology directly within their trusted platform. As identity fraud risks increase and compliance demands become more complex, having multiple secure verification options helps legal practitioners adapt to evolving industry standards and enhance both efficiency and security in real estate transactions. As new regulatory changes and heightened scrutiny continue to shape the legal industry, secure client identification and trust have never been more crucial for Canadian legal professionals. Unity IDV integrations are designed to help legal professionals strengthen fraud prevention and securely transmit highly sensitive customer Personally Identifiable Information in an evolving regulatory landscape. By embedding identity verification into the workflow, Unity customers can more efficiently confirm client identities at the outset of an engagement without relying on manual processes or switching between separate tools. This helps support our customers in meeting Know Your Client (KYC) and anti-money laundering (AML) requirements, while reducing exposure to increasingly sophisticated fraud in real estate transactions. Treefort's digital identity verification platform uses multi-factor authentication and data analysis to verify identities beyond reviewing government-issued identification alone. Designed for Canadian legal professionals, the platform is intended to support compliance with FINTRAC requirements and Law Society client identification rules. The integration follows Treefort's achievement of the Pan-Canadian Trust Framework Verified Person Trustmark from the Digital Identification and Authentication Council of Canada. This independent certification is intended to validate, based on DIACC's assessment, the platform's applicable identity proofing and security controls. Treefort IDV is now available to Unity Practice Management customers across Canada. Unity is available nationally and facilitates approximately 1,000 real estate transactions per day. Unity is one of the most widely used conveyancing platforms supporting legal professionals across Canada. 공지 • Mar 05
Dye & Durham Limited Elects Angela Zhang to Board of Director Dye & Durham Limited at its annual general and special meeting of shareholders held on March 4, 2026, approved to elect Angela Zhang to board of director. Recent Insider Transactions • Feb 20
Independent Director recently bought CA$173k worth of stock On the 18th of February, Alan Hibben bought around 50k shares on-market at roughly CA$3.45 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$370k more in shares than they have sold in the last 12 months. Reported Earnings • Feb 17
Second quarter 2026 earnings: EPS and revenues miss analyst expectations Second quarter 2026 results: CA$0.32 loss per share (further deteriorated from CA$0.27 loss in 2Q 2025). Revenue: CA$107.0m (down 11% from 2Q 2025). Net loss: CA$21.8m (loss widened 19% from 2Q 2025). Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) also missed analyst estimates by 33%. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. 공지 • Feb 13
Dye & Durham Limited to Report Q2, 2026 Results on Feb 16, 2026 Dye & Durham Limited announced that they will report Q2, 2026 results at 4:00 PM, US Eastern Standard Time on Feb 16, 2026 Major Estimate Revision • Feb 11
Consensus estimates of losses per share improve by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from CA$420.6m to CA$425.5m. EPS estimate increased from -CA$1.41 per share to -CA$1.13 per share. Software industry in Canada expected to see average net income growth of 17% next year. Consensus price target of CA$5.75 unchanged from last update. Share price fell 7.4% to CA$3.86 over the past week. 공지 • Feb 11
Dye & Durham Limited Announces Launch of Unity, Canada's Premier Conveyancing Platform, in British Columbia Dye & Durham Limited announced the launch of Unity®, its conveyancing platform, in British Columbia (B.C.). With more than 350,000 real estate transactions processed annually and platform uptime above 99%, Unity® is Canada's most widely used conveyancing solution, trusted by legal professionals nationwide. Now with content and workflows specifically customized for B.C., Unity® provides B.C. legal professionals with an all-in-one solution that integrates matter management and document workflows with essential third-party systems to streamline the entire real estate transaction. The property conveyancing process requires seamless coordination across lenders, municipal tax authorities, and land registries, yet fragmented technology often slows workflows and increases operational pressure. A recent survey of British Columbia legal professionals and notaries, conducted by Dye & Durham in partnership with the BC Notary Association (BCNA), based on respondent feedback, confirms this challenge: more than 80% of responders identified a lack of platform integration as a major hurdle. The data also revealed a correlation between perceived efficiency and software integration: firms that rated the B.C. conveyancing process as more efficient were far more likely to report satisfaction with integrated tools, while firms reporting lower efficiency described dissatisfaction and fragmented systems requiring significant manual effort. Unity® addresses this gap through integrations with many of the platforms central to the conveyancing process, including Lender Centre for mortgage instructions, Tax Certificates Online (TCOL), and the Land Title and Survey Authority (LTSA), alongside identity verification and accounting software. By connecting these essential services, Unity® helps reduce manual data entry, improves accuracy, and supports workflow continuity. The introduction of Unity® adds to Dye & Durham's portfolio in British Columbia, providing firms with access to a modern, cloud-based platform built on decades of experience in supporting legal professionals. Dye & Durham will continue to fully support its current product suite, including ProSuite, eConveyance, and Brief Convey. This gives firms the flexibility to choose the workflow that best suits their practice, now and in the future. Price Target Changed • Feb 09
Price target decreased by 15% to CA$5.75 Down from CA$6.75, the current price target is an average from 4 analysts. New target price is 45% above last closing price of CA$3.97. The company is forecast to post a net loss per share of CA$1.41 next year compared to a net loss per share of CA$1.31 last year. Board Change • Feb 09
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Independent Director Alan Hibben is the most experienced director on the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 공지 • Jan 28
Dye & Durham Appoints Allen Taylor to the Board Dye & Durham Limited announced that it has temporarily increased the number of directors of the Company to eight and appointed Allen Taylor to the board of directors of the Company. The increase in the number of directors of the Company was agreed to by each of Plantro Ltd. and OneMove Capital Ltd. in accordance with the terms of the respective agreements to which it is party with the Company. Prior to his appointment as a director of the Company, Mr. Taylor served as an observer to the Board. As previously announced, Mr. Taylor will be included on the Company's proposed slate for election at its rescheduled Annual General and Special Meeting of Shareholders (the "Meeting"), the date of which will be announced once determined by the Board. Allen Taylor is President of GTD Partners, a consulting and advisory firm providing operational, financial, and investment management services to a wide range of clients. Previously, he held key positions throughout an extensive career at Brookfield Asset Management, where he specialized in complex operational and financial turnarounds and portfolio management. A Chartered Accountant, Mr. Taylor has extensive experience managing complex financial structures and fostering sustainable businesses that return value to investors. He also serves on the Board of Tucows Inc. (NASDAQ: TCX; TSX: TC), a Nasdaq and TSX-listed company, and sits on its compensation committee and is chair of its audit committee. 공지 • Jan 14
Dye & Durham Launches Electronic Id Verification in Unity Practice Management to Simplify Homebuying Dye & Durham Limited announced the launch of a new Electronic ID Verification ("E-IDV") feature within its Unity®? Practice Management platform ("Unity®?"). The capability, developed in collaboration with long-standing partner and title insurer, FCT, is designed to help legal professionals strengthen fraud prevention and securely transmit highly sensitive customer personally Identifiable Information in an evolving regulatory landscape. Integrating E-IDV within Unity®? enables legal professionals to verify client identities directly, rather than relying on manual checks or separate systems. By utilizing the embedded ID verification offering at the start of a transaction, even before meeting with clients, legal professionals can reduce the risk of fraud, demonstrate stronger due diligence, and avoid delays - making it a better client experience. Bringing electronic ID verification into the existing workflow is expected to shorten turnaround times, cut down on duplicate data entry and help legal professionals to respond more efficiently to "know your client" (KYC) and anti-money laundering (AML) requirements, while giving homebuyers greater confidence that their transactions are being handled securely. E-IDV is available now to Unity®? Practice Management customers across Canada. 공지 • Dec 06
Dye & Durham Limited Announces Board Changes Dye & Durham Limited announced immediate changes to its Board of Directors as part of a settlement agreement with OneMove Capital Ltd. Effective December 5, 2025, Anthony Kinnear will step down and be replaced by Edward Smith, who will also assume the role of Chair and Allen Taylor will join as a Board observer until elected. At the Annual General and Special Meeting scheduled for December 31, 2025, Hans Gieskes and Tracey Keates will serve the balance of their terms but will not stand for re-election at the AGM. David Danziger has tendered his resignation effective December 30, 2025 for personal reasons. In light of Mr. Danziger's resignation, who is serving as the nominee of Plantro Ltd., the Company has provided Plantro the opportunity to propose a new nominee in an effort to accommodate Plantro. As Plantro has not yet identified a replacement, only six directors will be elected at the AGM. If Plantro identifies its new nominee sufficiently in advance of the AGM, the Board will instead seek to elect seven directors, with the Plantro nominee as the seventh nominee. Edward Smith is currently Executive Chairman of SMTC Inc. He served as CEO from 2017 to 2024 and led a major turnaround that grew revenue by more than fourfold and a 5X return for shareholders through the company's 2021 sale. From 2004 to 2016, Mr. Smith held several senior executive roles at Avnet Inc. He was previously president and CEO of SMTEK International from 2001 to 2004. Mr. Smith has served on the boards of SMTEK, Aqua Metals Inc., Data I/O, Nelson Miller, Masters Electronics, and the We Will Never Forget Foundation. Wendy Cheah is a senior executive and CPA, CA with over 25 years of experience in operations, finance, strategy, and transformation. She is CFO of OneMove Capital Ltd., stepping into operating partner roles across the group's portfolio companies as needed to accelerate growth and enhance governance and organizational performance. Her earlier leadership roles at Toronto Hydro, De Beers Canada, and the University Health Network included developing risk-based governance frameworks, enhancing financial planning and analysis capabilities, improving audit and compliance functions, and aligning operational practices to significant growth and evolving regulatory requirements. 공지 • Dec 05
Dye & Durham Limited Announces Media Report Regarding Legal Action by Plantro Ltd Dye & Durham Limited issued the following statement in response to media reports of the Statement of Defence and Counterclaim delivered by Plantro Ltd. ("Plantro") and Matthew Proud in respect of the legal action previously commenced against them by the Company to enforce compliance by Plantro and Mr. Proud with the terms of the Cooperation Agreement. The Counterclaim names the Company and certain of its current and/or former directors and officers as Defendants. The Company and the individuals named as Defendants to the Counterclaim strongly disagree with the allegations in the Statement of Defence and Counterclaim and will respond through the Court as appropriate. As this is an active legal matter, company will not comment on specific allegations. Previously, on November 21, 2025, Dye & Durham obtained a Court Order, on the consent of Mr. Proud and Plantro, enjoining them from breaching the terms of the Cooperation Agreement, under which Mr. Proud and Plantro agreed to certain standstill restrictions for the duration of the Company's strategic review process, which remains ongoing. Mr. Proud and Plantro are required to fully comply with their obligations under the Cooperation Agreement until the date that the action is determined on its merits or further Order of the Court. 공지 • Dec 04
OneMove Capital Warns Dye & Durham's Board Against Entrenchment Tactics and Urges Shareholders for Constructive Resolution On December 3, 2025, OneMove Capital Ltd., has publicly warned Dye & Durham Limited 's Board against what it perceives as renewed entrenchment tactics aimed at disregarding shareholder rights. OneMove has expressed its commitment to reaching a constructive resolution that would allow independent directors to join the Board, thereby avoiding the unnecessary costs and disruptions associated with a proxy contest. OneMove has confirmed that its nominees, including Eddie Smith, David Giannetto, Allen Taylor, and Tyler Proud, are uniquely qualified to address the financial and strategic challenges facing Dye & Durham. OneMove has criticized the Board for raising baseless concerns regarding its properly submitted nomination notice, suggesting that such actions are merely a pretext to invalidate the nomination. OneMove has called for shareholders to directly communicate their expectations for decisive action to the Board. OneMove has also indicated that it will withdraw the nomination of Ronnie Wahi to eliminate any pretext for the Board's claims of a shareholder group. OneMove emphasizes the need for a straightforward and timely vote on its proposed slate of nominees at the upcoming annual meeting, urging the Board not to use manufactured issues as justification for delaying the meeting. 공지 • Nov 22
Dye & Durham Limited Announces Management Appointments Dye & Durham Limited announced that Alan R. Hibben has joined its Board of Directors and has been appointed Independent Chair, effective immediately. George Tsivin, Dye & Durham's Chief Executive Officer, has also been appointed to the Board. Mr. Hibben is a seasoned chair and corporate director with more than 40 years of experience in investment, advisory, finance, and operational roles. He has led boards through complex strategic and restructuring processes, bringing deep expertise in governance, strategy, M&A, and the capital markets landscape. A Chartered Accountant, Chartered Financial Analyst, and Institute-Certified Director (ICD.D), Mr. Hibben's background aligns directly with the Company's strategic priorities and complements Mr. Tsivin's disciplined execution of Dye & Durham's operational transformation, focused on customer-centric product modernization, commercial excellence, and enhanced financial discipline. Together, their appointment to the Board strengthens the alignment between governance, strategic direction, and operational execution across the Company. To facilitate these appointments, Arnaud Ajdler and Sid Singh have resigned from the Board. Eric Shahinian, who is the nominee of OneMove Capital Ltd., has also resigned, and the Company is engaging with OneMove on the appointment of his replacement. The Board believes the addition of Mr. Hibben and Mr. Tsivin will strengthen the Board's leadership heading into its Annual General Meeting scheduled for December 31, 2025. As Chair, Mr. Hibben will continue the Board's efforts to engage with key shareholders to explore opportunities for additional refreshment. New Risk • Nov 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite being loss-making. Currently unprofitable and not forecast to become profitable over next 3 years (CA$25m net loss in 3 years). Share price has been volatile over the past 3 months (15% average weekly change). 공지 • Nov 11
Dye & Durham Limited Brings Online Property Tax Certificate Service to the City of Hamilton Dye & Durham Limited announced the launch of Tax Certificates Online ("TCOL") for the City of Hamilton. TCOL is a secure, reliable online portal for ordering Property Tax Certificates, making it faster and simpler for legal and finance professionals to obtain essential due diligence documents during property transactions. For over 15 years, more than 115 municipalities across Canada have trusted Dye & Durham to provide this service exclusively, demonstrating both reliability and value. The new system replaces manual, paper-based requests with an end-to-end digital process that provides instant access to property tax certificates, reducing administrative effort and improving service delivery for residents and the professional community. For residents, this means faster access to property tax information and fewer delays in closing real estate transactions, creating a more convenient and transparent experience. Through TCOL, Hamilton joins a growing network of Ontario municipalities that rely on Dye & Durham's technology and support to modernize property tax services, including Guelph, Milton, Oakville, and St. Catharines. The service combines end-to-end automation with dedicated customer and payment support from Dye & Durham, allowing municipal staff to focus on higher-value priorities while users receive timely and accurate information. Buy Or Sell Opportunity • Oct 21
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 42% to CA$5.24. The fair value is estimated to be CA$6.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 0.5% in 2 years. Earnings are forecast to grow by 79% in the next 2 years. 공지 • Oct 14
Dye & Durham Limited, Annual General Meeting, Dec 16, 2025 Dye & Durham Limited, Annual General Meeting, Dec 16, 2025. 공지 • Oct 09
Dye & Durham Limited Announces Committee Appointments Dye & Durham Limited provided an update on its previously announced strategic review process. In connection with the Cooperation Agreement the Company entered into with Plantro Ltd. ("Plantro") and Matthew Proud on July 29, 2025, the Company announced and commenced a review of strategic alternatives to maximize value for all shareholders. As part of that agreement, Plantro's nominee, David Danziger, was appointed to the Board and appointed Chair of a newly constituted Strategic Committee, which also includes Tracey Keates. The Strategic Committee has been actively evaluating strategic alternatives available to the Company with its advisors. 공지 • Oct 08
SmartCredit Limited entered into a definitive agreement to acquire Credas Technologies Ltd. from Dye & Durham Limited (TSX:DND) for £77.8 million. SmartCredit Limited entered into a definitive agreement to acquire Credas Technologies Ltd. from Dye & Durham Limited (TSX:DND) for £77.8 million on October 7, 2025. Dye & Durham Limited intends to use all net proceeds to repay outstanding senior secured debt, advancing its deleveraging priorities and further strengthening its balance sheet. The Transaction is subject to customary closing conditions, including receipt of required regulatory approvals. Canaccord Genuity Group Inc. (TSX:CF) act as financial advisor, Dentons Canada LLP act as legal advisor for Dye & Durham Limited. 공지 • Oct 06
OneMove Capital Sends a Letter to Board of Directors of Dye & Durham On October 6, 2025, OneMove Capital Ltd announced that it has sent a letter to board of directors of Dye & Durham Limited, stating that the Company board has allegedly ignored a credible offer to buy the company at a premium, received nearly 2 weeks ago, Ronnie Wahi, Co-Founder and former CFO, also criticized the board’s actions, supporting OneMove’s concerns, and OneMove accuses the board of pursuing value-destructive sales of high-growth assets, which could harm shareholder value. In addition, OneMove Capital stated that the Company board has not made meaningful progress since announcing a strategic review over 68 days ago, OneMove and Wahi claim their attempts to engage constructively with the board have been ignored, and urged the Company board to engage with credible bidders and cease asset disposals, warning that continued mismanagement could oppress minority shareholders, emphasizes the board’s fiduciary duty to act in the best interest of all shareholders. Price Target Changed • Oct 03
Price target decreased by 10% to CA$14.17 Down from CA$15.75, the current price target is an average from 6 analysts. New target price is 102% above last closing price of CA$7.00. The company is forecast to post a net loss per share of CA$1.03 next year compared to a net loss per share of CA$2.93 last year. 공지 • Oct 02
Ronnie Wahi Intends to Reconstitute the Dye & Durham’s Board and Seek a Sale of the Business On October 2, 2025, Ronnie Wahi announced that he intends to nominate individuals in connection with the Dye & Durham Limited’s 2025 annual meeting of shareholders and seek to substantially reconstitute Company’s board of directors. In addition, Ronnie Wahi criticized the Engine Capital-led board for mismanagement since taking control in December 2024, and mentioned that, under their leadership the Company suffered a 70% decline in share price, defaulted on debt, gone through four CEOs and three CFOs in less than a year, failed to produce FY2025 financials, leading to a cease trade order, filed conflicting financial documents within 24 hours. Further, Wahi claims the board is ignoring offers from qualified buyers willing to pay a premium and believes the board may be pursuing value-destructive asset sales instead. 공지 • Jul 31
Dye & Durham Limited Announces Management Changes Dye & Durham Limited has appointed Chris Louie as Chief Marketing Officer and Corey Banks as Chief Legal Officer. Mr. Louie brings more than a decade of product marketing and strategy expertise. Previously, he led global product marketing for Nielsen's marketing effectiveness product suite as Senior Vice President of Product Marketing. In this role, he oversaw product positioning, pricing, sales strategy, external marketing, sales training, and global expansion. Mr. Louie joins Dye & Durham from Thomson Reuters, where he most recently served as Head of Talent Development. He holds an M.B. A from Columbia Business School and earned a B.S. from The Wharton School of the University of Pennsylvania. Mr. Banks previously served as a Litigation Associate at prominent New York law firm Wachtell, Lipton, Rosen & Katz, where he worked on a broad range of commercial disputes, including corporate and financial matters and antitrust. His previous roles also include clerking at the U.S. District Court for the Southern District of New York and the U.S. Court of Appeals for the Second Circuit, and serving as an Associate at Cleary Gottlieb Steen & Hamilton LLP. Mr. Banks joins Dye & Durham from Therium Capital Management, where he managed the firm's commercial legal finance business in the U.S. He graduated magna cum laude from Harvard Law School and holds a B.A. from Tufts University. Separately, Ritu Khanna has stepped down from the Board as she has transitioned to a new professional role with significant responsibilities and time commitment. Recent Insider Transactions • Jun 30
Chief Financial Officer recently bought CA$100k worth of stock On the 23rd of June, Avjitpal Kamboj bought around 11k shares on-market at roughly CA$9.36 per share. This transaction increased Avjitpal's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Avjitpal's only on-market trade for the last 12 months. Major Estimate Revision • May 20
Consensus EPS estimates fall by 41% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CA$475.6m to CA$462.2m. Losses expected to increase from CA$0.73 per share to CA$1.03. Software industry in Canada expected to see average net income growth of 24% next year. Consensus price target down from CA$18.33 to CA$15.58. Share price fell 7.0% to CA$9.19 over the past week. 공지 • May 15
Dye & Durham Limited announces Quarterly dividend, payable on May 27, 2025 Dye & Durham Limited announced Quarterly dividend of CAD 0.0188 per share payable on May 27, 2025, ex-date on May 21, 2025 and record date on May 21, 2025. Reported Earnings • May 14
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: CA$0.32 loss per share (improved from CA$0.35 loss in 3Q 2024). Revenue: CA$108.3m (flat on 3Q 2024). Net loss: CA$21.7m (flat on 3Q 2024). Revenue missed analyst estimates by 6.7%. Earnings per share (EPS) also missed analyst estimates by 123%. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. 공지 • May 07
Dye & Durham Limited Launches Groundbreaking Automated Error Correction Feature for CANACT BillPay Platform Dye & Durham Limited announced the launch of an innovative automated error correction feature within its industry-leading CANACT BillPay platform. This first-of-its-kind advancement directly addresses a key recommendation from the Payments Canada task force on the modernization of bill payment services, resolving long-standing inefficiencies and significantly improving the experience for millions of Canadian users. Supporting over 20 million retail and corporate users, CANACT BillPay is one of the country's largest bill payment services, connecting leading financial institutions to more than 15,000 national billers. With this new feature, financial institutions and billers can now streamline and automate the complex process of managing bill payment corrections, reducing resolution times from weeks to just days. 공지 • May 02
Dye & Durham Limited to Report Q3, 2025 Results on May 13, 2025 Dye & Durham Limited announced that they will report Q3, 2025 results on May 13, 2025 Price Target Changed • Apr 29
Price target decreased by 9.7% to CA$18.33 Down from CA$20.29, the current price target is an average from 6 analysts. New target price is 103% above last closing price of CA$9.04. The company is forecast to post a net loss per share of CA$0.73 next year compared to a net loss per share of CA$2.93 last year. Price Target Changed • Apr 24
Price target decreased by 8.1% to CA$19.17 Down from CA$20.87, the current price target is an average from 6 analysts. New target price is 113% above last closing price of CA$8.99. The company is forecast to post a net loss per share of CA$0.73 next year compared to a net loss per share of CA$2.93 last year. 공지 • Feb 27
An undisclosed buyer proposed to acquire Dye & Durham Limited (TSX:DND) for CAD 1.3 billion. An undisclosed buyer proposed to acquire Dye & Durham Limited (TSX:DND) for CAD 1.3 billion on February 25, 2025. An undisclosed buyer will acquire Dye & Durham Limited for CAD 20 per common share. The Company is not in discussions or negotiations with any third party, nor is there any agreement, understanding or arrangement with respect to any such transaction. Major Estimate Revision • Feb 20
Consensus EPS estimates fall by 33% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -CA$0.537 to -CA$0.716 per share. Revenue forecast unchanged at CA$488.2m. Software industry in Canada expected to see average net income growth of 19% next year. Consensus price target down from CA$24.79 to CA$21.44. Share price fell 10% to CA$12.35 over the past week. Declared Dividend • Feb 18
Second quarter dividend of CA$0.019 announced Shareholders will receive a dividend of CA$0.019. Ex-date: 20th February 2025 Payment date: 27th February 2025 Dividend yield will be 0.6%, which is higher than the industry average of 0.2%. New Risk • Feb 16
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: CA$154m Forecast net loss in 2 years: CA$7.0m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. This is currently the only risk that has been identified for the company. 공지 • Feb 15
Dye & Durham Limited Approves Dividend for the Three Months Ending December 31, 2024, Payable on or About February 27, 2025 Dye & Durham Limited approved a dividend for the three months ending December 31, 2024, in the amount of $0.01875 per common share, to be paid on or about February 27, 2025, to holders of common shares of record as of the close of business on February 20, 2025. Reported Earnings • Feb 14
Second quarter 2025 earnings: EPS exceeds analyst expectations Second quarter 2025 results: CA$0.27 loss per share (improved from CA$0.63 loss in 2Q 2024). Revenue: CA$120.7m (up 9.5% from 2Q 2024). Net loss: CA$18.3m (loss narrowed 47% from 2Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.2%. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Software industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. 공지 • Feb 04
Dye & Durham Limited to Report Q2, 2025 Results on Feb 13, 2025 Dye & Durham Limited announced that they will report Q2, 2025 results Pre-Market on Feb 13, 2025 Major Estimate Revision • Jan 24
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -CA$0.457 to -CA$0.509 per share. Revenue forecast of CA$493.1m unchanged since last update. Software industry in Canada expected to see average net income growth of 27% next year. Consensus price target of CA$24.79 unchanged from last update. Share price fell 4.3% to CA$15.15 over the past week. Board Change • Dec 19
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 7 new directors. No experienced directors. 1 highly experienced director. 2 independent directors (6 non-independent directors). CEO Matt Proud is the most experienced director on the board, commencing their role in 2013. Independent Director Eric Shahinian was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Price Target Changed • Dec 18
Price target increased by 8.6% to CA$24.29 Up from CA$22.37, the current price target is an average from 7 analysts. New target price is 27% above last closing price of CA$19.15. Stock is up 31% over the past year. The company is forecast to post a net loss per share of CA$0.46 next year compared to a net loss per share of CA$2.93 last year. 공지 • Dec 10
Engine Capital Solicits Proxies from Shareholders On December 9, 2024, Engine Capital LP announced that it has published an open letter to its fellow shareholders outlining the path to a brighter future at Dye & Durham Limited, urged the shareholders of the Company to vote for its 6 board nominees Arnaud Ajdler, Hans T. Gieskes, Tracey Keates, Ritu Khanna, Anthony Kinnear and Sid Singh, and called on Chair Colleen Moorehead to Ensure a transparent and fair election. Major Estimate Revision • Nov 14
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -CA$0.439 to -CA$0.494 per share. Revenue forecast unchanged at CA$489.3m. Software industry in Canada expected to see average net income growth of 41% next year. Consensus price target down from CA$22.87 to CA$22.37. Share price fell 11% to CA$17.50 over the past week. Declared Dividend • Nov 11
First quarter dividend of CA$0.019 announced Shareholders will receive a dividend of CA$0.019. Ex-date: 14th November 2024 Payment date: 21st November 2024 Dividend yield will be 0.4%, which is higher than the industry average of 0.2%. 공지 • Nov 11
Engine Capital Cautions Dye & Durham’s Board Against Further Entrenchment Tactics On November 11, 2024, Engine Capital LP, issued a statement accusing the Board of Directors, led by Chair Colleen Moorehead, of attempting to entrench itself and disenfranchise shareholders. Engine criticized the Board's recent actions, including raising what they described as frivolous concerns about Engine’s director nomination notice, potentially to invalidate the nomination. Engine expressed frustration over a letter from Company counsel that requested additional information and reiterated baseless claims that Engine is part of a shareholder group. Despite these actions, Engine intends to comply with the information requests and urged the Board to stop its gamesmanship and allow shareholders to vote for their nominees at the December Annual Meeting. Engine warned that if the Board invalidates their nomination, they would take legal action, which would waste shareholder capital and potentially delay the meeting. Engine also highlighted the Board's previous attempts to use a Competition Bureau investigation to maintain control and criticized the Board’s poor management, noting significant senior management departures and regulatory blockages of deals. Engine cautioned against further entrenchment maneuvers and emphasized that shareholders should have the right to elect a new Board focused on long-term value creation. New Risk • Nov 10
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: CA$170m Forecast net loss in 2 years: CA$4.1m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (CA$4.1m net loss in 2 years). Shareholders have been diluted in the past year (22% increase in shares outstanding). 공지 • Nov 08
Dye & Durham Limited Approves Dividend for the Three Months Ending September 30, 2024, Payable on or About November 21, 2024 The Board of Directors of Dye & Durham Limited approved a dividend for the three months ending September 30, 2024, in the amount of $0.01875 per common share, to be paid on or about November 21, 2024, to holders of common shares of record as of the close of business on November 14, 2024. Reported Earnings • Nov 08
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: CA$0.14 loss per share (improved from CA$0.25 loss in 1Q 2024). Revenue: CA$119.9m (flat on 1Q 2024). Net loss: CA$9.09m (loss narrowed 33% from 1Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.2%. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Board Change • Nov 01
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Chairman of the Board Colleen Moorehead was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 공지 • Nov 01
Dye & Durham Limited to Report Q1, 2025 Results on Nov 07, 2024 Dye & Durham Limited announced that they will report Q1, 2025 results on Nov 07, 2024 공지 • Oct 30
Dye & Durham Appoints Luke McCormick to Its Board of Directors Dye & Durham Limited announced that Luke McCormick has been appointed to the Company's board of directors, with immediate effect. Mr. McCormick's appointment to the Board is in connection with the Company's cooperation agreement with Blacksheep Fund Management Ltd. 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. Prior to joining Generation Capital, he worked at Brookfield Renewable Energy Partners. Mr. McCormick holds an MBA from the Schulich School of Business at York University, a BSc in biology from King's College, and is a CFA Charterholder. Price Target Changed • Oct 24
Price target increased by 8.7% to CA$23.00 Up from CA$21.17, the current price target is an average from 6 analysts. New target price is 19% above last closing price of CA$19.25. Stock is up 142% over the past year. The company is forecast to post a net loss per share of CA$0.44 next year compared to a net loss per share of CA$2.93 last year. 공지 • Oct 23
Engine Capital Provides Information to Shareholders On October 23, 2024, Engine Capital LP announced that Dye & Durham Limited is a high-quality business that is currently underearning due to CEO Matthew Proud’s mismanagement, an ineffective Board and a drop in real estate transactions, while peers trade at above 18x EBITDA, the Company’s stock hovers around 8.5x EBITDA. Engine Capital stating that since it suspects Matthew Proud will roll his equity in any transaction, a sale of Dye & Durham would essentially allow him to buy the business at the bottom of the cycle for a price that would most likely substantially undervalue the Company, and it believed that over 50% of Company’s shareholder base shares the view that now is not the right time to engage in a sale process. In addition, Engine Capital stated that it looks forward to unveiling Company director candidates for the Company in short order, along with Engine Capital operating plan, and providing shareholders the choice to vote for a better Company. 공지 • Oct 16
Dye & Durham Limited, Annual General Meeting, Dec 17, 2024 Dye & Durham Limited, Annual General Meeting, Dec 17, 2024. 공지 • Sep 19
OneMove Capital Responds to Dye & Durham’s Announcement about Litigation On September 18, 2024, OneMove Capital Ltd stated that Dye & Durham Limited’s press release misleadingly suggests that the Court accepted its position about the Investor Rights Agreement, and OneMove Capital stated that, the Court has rejected all of the inflammatory allegations made by the Company. In addition, OneMove Capital stated that the Company’s press release failed to inform its shareholders that the Court rejected the Board’s argument that OneMove’s proposal to remove and replace Prittie was motivated by OneMove’s personal animosity toward Prittie and was an attempt to redress a personal grievance against Prittie. 공지 • Sep 11
Engine Capital Sends Letter to Dye & Durham’s Board of Directors On September 11, 2024, Engine Capital LP announced that it has sent a letter to Dye & Durham Limited’s board of directors highlighting the Company’s recent Q4 2024 earnings announcement on September 4, 2024, which included news of 2 additional acquisitions for a total consideration of C$69.3 million which went against the board and management’s previous commitment to reducing the debt load. Engine Capital also highlighted the Company’s leverage ratio over the last few quarters. Incredibly, pro-forma leverage following these 2 acquisitions is now back to around the same level as it was prior to the February 2024 dilutive equity offering despite management’s repeated commitment to drive leverage below 4x as quickly as possible. In addition, Engine Capital urged the independent directors of the Company to stop the shenanigans and set a date for the Special Meeting as soon as practically possible so that shareholders can have their say. Major Estimate Revision • Sep 11
Consensus EPS estimates fall by 369% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -CA$0.092 to -CA$0.434 per share. Revenue forecast unchanged at CA$489.8m. Software industry in Canada expected to see average net income growth of 31% next year. Consensus price target broadly unchanged at CA$21.17. Share price rose 2.1% to CA$14.26 over the past week. Declared Dividend • Sep 08
Fourth quarter dividend of CA$0.019 announced Shareholders will receive a dividend of CA$0.019. Ex-date: 12th September 2024 Payment date: 19th September 2024 Dividend yield will be 0.6%, which is higher than the industry average of 0.2%. Reported Earnings • Sep 06
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: CA$2.93 loss per share (further deteriorated from CA$2.76 loss in FY 2023). Revenue: CA$457.7m (up 1.5% from FY 2023). Net loss: CA$175.0m (loss widened 2.5% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 126%. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Software industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. New Risk • Sep 05
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: CA$159m Forecast net loss in 2 years: CA$9.5m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (CA$9.5m net loss in 2 years). Shareholders have been diluted in the past year (22% increase in shares outstanding). 공지 • Sep 05
Dye & Durham Limited Approves Dividend for the Three Months Ended June 30, 2024, Payable on or About September 19, 2024 On September 4, 2024, the Board of Directors of Dye & Durham Limited approved a dividend for the three months ended June 30, 2024, in the amount of $0.01875 per common share, to be paid on or about September 19, 2024, to holders of common shares of record as of the close of business on September 12, 2024. 공지 • Aug 30
Dye & Durham Limited to Report Q4, 2024 Results on Sep 04, 2024 Dye & Durham Limited announced that they will report Q4, 2024 results on Sep 04, 2024 Price Target Changed • Aug 08
Price target decreased by 10% to CA$19.79 Down from CA$22.00, the current price target is an average from 7 analysts. New target price is 53% above last closing price of CA$12.89. Stock is down 33% over the past year. The company is forecast to post a net loss per share of CA$1.29 next year compared to a net loss per share of CA$2.76 last year. 공지 • Jul 10
OneMove Capital Ltd. Files Claim in the Ontario Superior Court (Commercial List) Against Dye & Durham Limited Dye & Durham Limited announced that OneMove Capital Ltd. has filed a claim in the Ontario Superior Court (Commercial List) against the Company in respect of OneMove's shareholder proposal to remove director Edward D. Prittie from the Board, in an attempt to use the court to achieve an outcome that the Company does not believe its shareholders would accept. The Company believes OneMove's claim is baseless and without merit, and intends to mount a vigorous defence. The size of the Company's Board is fixed at seven members, as per the terms of the July 17, 2020 investor rights agreement between the Company, Plantro Ltd. and OneMove. The IRA provides OneMove and Plantro each with the right to nominate a single individual to the board of directors of the Company (the "Board"), with the balance of the nominees remaining with the Board, which ensures the composition of the Board represents all stakeholders. Engine Capital LP (together with its affiliates, "Engine") had previously nominated three individuals for election to the Board, in connection with the Company's upcoming special meeting of shareholders scheduled to be held on August 20, 2024 (the "Special Meeting"). OneMove's proposal and its related litigation is intended to contest a fourth seat on the Board which would potentially allow OneMove and Engine to gain control of the Board and the Company, without paying shareholders a control premium. In a good faith attempt to facilitate a settlement, the Board advanced a proposal that offered Engine and OneMove two seats on the Board. The Board's proposal was rejected, and they appear determined to proceed with their attempts to gain majority control of the Board. Notwithstanding the unnecessary cost and distraction imposed by the activist group, the Board has taken significant actions on its own accord to reposition the Company and substantially reconstitute the Board: The Board replaced two directors at the 2023 annual meeting, and through current negotiations has offered, in good faith, potentially another two independent seats to qualified board members Named a new Board Chair, Colleen Moorehead Engaged in significant ongoing discussions with all the stakeholders of the Company; Completed a significant and accretive re-financing; and, Continues to deliver solid financial results. The Board will always act in the best interests of all shareholders and act to protect their interests. Dye & Durham intends to file a counter claim that alleges that OneMove breached the provisions of the IRA, and that Engine induced this alleged breach. The Company is continuing to investigate the activity of OneMove and Engine for potential breaches of securities laws and will take the necessary steps to protect the Company and all of its shareholders from any damage caused by their conduct. 
