Dye & Durham to consider sale, merger in truce with investor Plantro
The agreement comes less than a month after Plantro, which owns 11% of the Toronto-based Canadian legal software maker, said it was nominating three directors to the board who would push for a sale of the company, and calling for a special shareholders' meeting to vote on the nominees.
Plantro had argued a sale was the only way to realize a control premium for shareholders and restore stability in the business.
Dye & Durham has now agreed to add Plantro-nominee David Danziger to its board of directors. Danziger, who has expertise in audits, accounting, M&A and management consulting, will also chair a newly formed special committee to lead the review.
In return, Plantro has withdrawn its special meeting request.
Dye & Durham said it will not make any further public comments about the review, which could also include potential mergers, recapitalizations and asset sales, until the process has been completed.
In May, Plantro, a company controlled by former Dye & Durham CEO Matthew Proud, asked Dye & Durham to stabilize its executive team, divest its financial services division, and later this year pursue the sale of its remaining core business.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Glasgow Times
29 minutes ago
- Glasgow Times
Electric coach operator set to create dozens of new jobs in Paisley
Ember Core has been granted planning permission, subject to conditions, to develop the facility on brownfield land to the southwest of St James Interchange. The Edinburgh-based company, an electric coach operator, will use the site as a base for charging its vehicles and expects it to support approximately 60 new jobs, including driving roles, hub support and operational staff. An operational statement submitted with the application explained: 'Ember, the UK's first 100% electric coach operator, based in Edinburgh, plans to establish a new hub at West March Road, Paisley, to be used as a base for charging its vehicles. 'This hub will allow Ember to establish new long-distance bus services from Glasgow Airport and Glasgow, for example, to Aberdeen, Inverness and Edinburgh.' It continued: 'Once fully operational, Ember anticipates that this site will support approximately 60 new jobs. 'This includes driving roles as well as hub support and operational staff. All roles will pay well above the real living wage. 'The proposed site is a brownfield site close to Junction 29 of the M8. 'The location has been chosen due to its proximity to Glasgow Airport and Paisley, both attractive passenger destinations.' Ember will primarily use the site for parking and charging buses and there will be a total of 18 parking bays, including space for up to 11 buses to charge simultaneously. During the day, an average of two to four buses are likely to be charging at any one time, with all bays only occupied overnight. The company also intends to add staff parking, a welfare unit for driver breaks and a gantry bus wash to make sure its fleet can be cleaned frequently. The nearest residential properties, which are found at St James Avenue, are located in excess of 200 metres to the southeast of the site. A report of handling by the council's chief planning officer said: 'Given the nature and scale of the proposed development, it is considered that it would be compatible with the surrounding area without detriment to amenity.'
Daily Record
an hour ago
- Daily Record
Mario Lapointe reveals investment in Dumbarton goes beyond cash as owner bares his soul to management and punters
The new Dumbarton owner is bullish over the events which have transpired since he took the reins at The Rock in Jun Right now Mario Lapointe is a happy chappy. The new Dumbarton owner is bullish over the events which have transpired since he took the reins at The Rock in June after the Good Ship Sons ran aground in the form of liquidation and the subsequent forming as a newco after a 15-point penalty put paid to their League One status. Scottish football is no stranger to unexpected saviours but a French-Canadian musician who has made his money in the world of electronics is the unlikeliest spark for a club in need. But Lapointe is bullish over the Sons' future with ticket sales on the up, added investment in the club's youth set-up and pioneering pay it forward schemes directly engaging youths in the Dumbarton area. They will start the League Two season with a five-point penalty but the mood music around Lapointe's most ambitious project yet is rising after a Premier Sports Cup campaign which started with a win over Stirling Albion and ended with a victory over crisis-hit Hamilton. Montreal native Lapointe is a big personality but his role as custodian of Dumbarton doesn't come with a laissez-faire attitude – just ask the management team who hear from him after every game. Football advisor Neil Watt, appointed by Lapointe himself, and manager Stevie Farrell receive an instant debrief from the boss who is back in Scotland for their League Two opener against Clyde as they aim to quickly wipe out the deduction they were slapped with. Speaking exclusively to Record Sport, Lapointe said: "I'll be watching our games and I take notes and I take notes and after the game I'll write to our adviser Neil Watt and Stevie, our coach, and I'll share my notes. "I coached hockey 19 years and there's things in hockey that we cannot take a low effort or something like that or we're attached to details because it's a very fast game, ice hockey is very fast compared to football "I write what I see, just like I'm talking to you now, I'm a guy that's very direct. I don't beat around the bush too much. and so, I write exactly what I see. "And then to push my efforts, I'll make sure that if I have a solution for it, the solution will be there too, and I send it to them and they (management team) probably go, "Oh my god.", "And this is why I went to get Neil Watt at the same time. I had set five different aspects for me to evaluate our coaching staff and those five aspects. "So for me to be able to evaluate, let's say, the coaching staff, the confidence level, it's like statistics, you have a certain way of saying things, but what's your confidence level? for the coaching staff to receive it, it could not just be from this French Canadian guy that knows about hockey and coaching. It had to be also from a guy that agrees with it, or doesn't agree with it in Neil Watt, right now in our perspective, he's that guy. He's taking care of it. "He's the mentor of the coaching staff, but also he's a guy that's taking his notes as well, and he receives mine. And maybe our notes match sometimes, and perhaps they don't. I cannot be everything, which I am not the best at everything, but I'm pretty good at everything. But I surround myself with some of the best. I'll try to anyway. and that's what I tried to do in this case." The new man in town is an open book and appears willing to self-evaluate after admitting the emotions of his first voyage to the Shire resulted in emotions running high and a club legend offering a quiet gesture to avoid the owner boiling over in front of his public. Lapointe admits his primal reactions in the stands came as a surprise to himself. He added: "During the game, I'll say nothing. I'll watch. If I'm at the stadium, it's a different thing though because at the stadium, I did find myself getting mad a couple of times last time and that's not usually me. "But when you coach for so many years behind a bench, you're not a guy that lets yourself go so much because everything's planned and you're going at it, But when you're in the stands, it has been a while that I haven't been in the stands for a long time. It was good because I was sitting next to Murdo MacLeod and he put his hand on my shoulder a couple of times "So, I don't know if he noticed that, but he was really trying to calm me down, I think. And that's fine because I am a competitive guy. I like to obviously win and I don't mind losing. I've never been a bad loser, but every loss is an opportunity to find out why you lost and how you can do something different and right now I'm happy." Lapointe comes with no airs and graces despite his success in life and his modesty in the abode he rests his eyes on when he makes the trip from Canada to his new home. And his open doors policy has stretched to his social media presence, with Dumbarton fans invited directly to his personal Facebook page as he toyed with letting those beyond the stadium hear about the success of a team under new ownership. He said: "They say that change is hard to happen, and for me I don't have that problem of being uncomfortable. You know what I mean? if I send you where I live when I go to Scotland right now it was a mattress in an empty apartment and that was it, and I got it late and stuff and I couldn't care less. "I had a picture on my Facebook with a huge church bell that comes in the rack and a lot of people, 'my god, what does he want to do with that and stuff?' And I didn't buy it, of course. but in Montreal, one of the biggest things is that people have a losing team,..but when they score, the whole town knows because you can hear that bell ringing, and it puts a smile on your face every time."
The Herald Scotland
3 hours ago
- The Herald Scotland
Highland Fuels buys Carnegie Fuels in start of 'new chapter'
It said of its acquisition of Brechin-based Carnegie Fuels: 'This carefully considered partnership represents the coming together of two respected, values-led businesses with deep roots in the Scottish energy sector. 'The decision by the Carnegie family to entrust Highland Fuels with the future of the business follows an extensive sale process. Highland Fuels was selected as the preferred partner due to a strong cultural alignment, shared ethos, and a longstanding reputation for service excellence and community focus.' Highland Fuels became employee-owned in August 2023, and this played a key part in the deal, with the Carnegie Fuels leadership highlighting the importance of ensuring the employees of the Brechin-based business were "looked after" by a new owner. Commenting on behalf of Carnegie Fuels, Kevin Carnegie said: 'This [employee ownership] was a key factor in our decision. We wanted to ensure that our team, many of whom have been with us for years, are looked after not just today but into the future. Joining an employee-owned company like Highland Fuels gives them that stability and a real stake in what comes next.' Highland Fuels said: 'Carnegie Fuels has built a legacy of reliability, trust and local service - qualities that strongly reflect Highland Fuels' own values as a customer-centric and employee-focused company.' It added that, as part of the transaction, Carnegie Fuels would 'continue to operate under its established name and management structure', with Ryan Carnegie appointed as director and Kevin and Rosie Carnegie 'supporting a smooth transition'. Read more Highland Fuels describes itself as 'Scotland's leading independent fuel distributor', operating 11 depots, 16 petrol stations and a fleet of 50 road tankers serving the country. It has 260 employees based across operations which stretch from Lerwick in Shetland to Manchester. Stephen Rhodes, managing director of Highland Fuels, said: 'This is a very positive step for both businesses and for the communities we serve. We're honoured to be continuing the Carnegie legacy and welcoming the team into the Highland Fuels family. This partnership is built on shared values and a commitment to long-term success." He added: "This transaction lays a strong foundation for operational continuity and sustainable growth, delivered with a focus on people, communities, and service excellence. Highland Fuels and Carnegie Fuels share a deep-rooted commitment to professionalism, integrity and reliability. By uniting the strengths of the two companies customers can be confident in a trusted energy partner that is well equipped to meet Scotland's evolving energy needs - today and into the future.'
