Latest news with #Lépine
Business Wire
30-06-2025
- Business
- Business Wire
iolite Files Formal Complaint with Securities Regulatory Authority and Calls for the Immediate Resignation of Chairman Pierre Lépine and CEO & President Jean Martineau
FREIENBACH, Switzerland--(BUSINESS WIRE)--iolite Partners Ltd. ('iolite'), the largest shareholder of Dynacor Group Inc. (TSX: DNG, 'Dynacor'), announces that it has filed a formal complaint with the Quebec Autorité des marches financiers regarding potential disclosure violations by Dynacor. The complaint cites potential disclosure failures including in the lead-up to Dynacor's June 17, 2025 annual general meeting ('AGM') and in subsequent communications. Despite significant use of company resources to secure votes, the narrow margins in the Chairman's (60.98%) and CEO's (73.77%) re-election demonstrate the absence of any true mandate or vote of confidence in Dynacor's leadership. The full complaint calls for investigation into potential: Undisclosed loss of key talent and resulting risks. Large-scale dismissals and forced resignations of longstanding personnel in Peru — without reason, notice, and severance — followed by the hiring of unqualified individuals at inappropriate pay levels, exposing the Company to serious operational, legal, and financial risks. Failure to disclose the material deterioration of Veta Dorada — the subsidiary that generates 100% of the Company's revenue — misleading investors about the true state of the business. Issues regarding the credibility of Dynacor's international expansion narrative given the obvious deterioration of the core business and loss of key talent, used to justify both a contested capital increase in January 2025 and the re-election of directors at the AGM. Failure to revise guidance despite clear evidence of operational decline. iolite has filed this complaint in good faith, in the interest of all shareholders, to accelerate long-overdue leadership change at Dynacor and to ensure transparency and proper disclosure. The scope and severity of management's failures leave no credible reason for Messrs. Lépine and Martineau to remain in office; their continued presence exposes the Company to unacceptable operational, financial, and reputational risk. At the June 17, 2025 AGM – and again in a June 19, 2025 press release – management celebrated past achievements, touted international expansion, and reaffirmed optimistic guidance even as key operating metrics seem to have deteriorated. Barely a week later, on June 27, the Company issued a self-contradictory release announcing a 'restructuring in Peru,' allegedly triggered by 'employee practices contrary to the Corporation's values and Code of Conduct,' yet presented as part of a global growth plan requiring more head-office hiring. Management hired an external firm to review the evidently serious matter, but offered no explanation of what went wrong or why a review was necessary, leaving investors completely in the dark. iolite remains convinced Dynacor has real potential and is undervalued: it is a leading niche player in an attractive market, with nearly half its market cap in cash and positive free cash flow through Q1 2025. But the status quo is untenable. Dynacor urgently needs competent, decisive leadership of unimpeachable integrity – leadership capable of restoring trust, stabilizing operations, and unlocking the Company's full value for every shareholder. To those who understand the issues, the solution is obvious. iolite stands ready to help. About iolite Founded in 2011 iolite Capital is a Switzerland-based investment manager with a focus on hidden champions: good businesses at attractive valuations. iolite serves a select circle of private and institutional clients who share the same entrepreneurial mindset, are willing to invest for the long term, and who would like to have first-hand access to a dedicated portfolio manager with substantial and meaningful skin in the game. Using a private equity approach, iolite conducts deep fundamental research, constructively engages with management, and adopts a long-term investment horizon. For more information on iolite, please visit
Global News
27-04-2025
- General
- Global News
‘Like time stopped': memorial mass in Montreal pays tribute to Pope Francis
Hours after waking to watch Pope Francis being laid to rest, several dozen faithful paid a final tribute to the late pontiff at a memorial mass at Montreal's Mary, Queen of the World Cathedral on Saturday. The downtown cathedral — a one-quarter replica of St. Peter's Basilica in Rome — has been at the centre of events in Montreal marking the passing of Pope Francis, who died on Easter Monday. A larger crowd gathered on Tuesday evening for a requiem mass. Christian Lépine, the Archbishop of Montreal, presided over the Saturday mass. Like many, he was up at the crack of dawn to watch the procession on television and has been at the heart of local events. 'It's like time stopped for the whole week,' Lépine said at the conclusion of the sombre event. 'Pope Francis was at the forefront of many things,' Lépine said. 'We give the people the space where they can mourn together and pray together so that's what we've been doing, offering a space with the people to mourn together.' Story continues below advertisement Michelina Lavoratore said she came to pay her respects for Francis and said the pope should be remembered for his frequent calls for peace that fall on deaf ears of political leaders. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Lavoratore, a dame of the Order of the Holy Sepulchre, a Catholic order, said as such, she had a special attachment to the pope. 'I admired him,' she said. But also on the minds of some Catholics is who will come next. Lavoratore said for the next pope, she hopes the person is a conservative who doesn't make too many changes and respects traditions in place. Geronimo Fernadez was also on hand to pay his respects. 'He made a lot of changes quickly,' Fernandez said of Pope Francis, adding that wasn't necessarily a good thing. Fernandez said his hope for the next pope is someone younger and authentic. For his part, Denis Pelchat gave Pope Francis high marks and said while he couldn't get everything done on his list, what he did was remarkable. 'I'm here to pay tribute to Pope Francis, who I loved, who I read, who inspired me greatly,' Pelchat said. As for the next pope, Pelchat said he'll 'trust in God.' 'I have no expectations. For the past 50 years, we've always been amazed by all popes who have been elected, who've always brought something special,' Pelchat said. Story continues below advertisement Asked about his own hopes for the next pope, Lépine was coy. 'I'm expecting to be surprised by the choice of the next pope,' he said with a smile.
Hamilton Spectator
26-04-2025
- Politics
- Hamilton Spectator
‘Like time stopped': memorial mass in Montreal pays tribute to Pope Francis
MONTREAL - Hours after waking to watch Pope Francis being laid to rest, several dozen faithful paid a final tribute to the late pontiff at a memorial mass at Montreal's Mary, Queen of the World Cathedral on Saturday. The downtown cathedral — a one-quarter replica of St. Peter's Basilica in Rome — has been at the centre of events in Montreal marking the passing of Pope Francis, who died on Easter Monday. A larger crowd gathered on Tuesday evening for a requiem mass. Christian Lépine, the Archbishop of Montreal, presided over the Saturday mass. Like many, he was up at the crack of dawn to watch the procession on television and has been at the heart of local events. 'It's like time stopped for the whole week,' Lépine said at the conclusion of the sombre event. 'Pope Francis was at the forefront of many things,' Lépine said. 'We give the people the space where they can mourn together and pray together so that's what we've been doing, offering a space with the people to mourn together.' Michelina Lavoratore said she came to pay her respects for Francis and said the pope should be remembered for his frequent calls for peace that fall on deaf ears of political leaders. Lavoratore, a dame of the Order of the Holy Sepulchre, a Catholic order, said as such, she had a special attachment to the pope. 'I admired him,' she said. But also on the minds of some Catholics is who will come next. Lavoratore said for the next pope, she hopes the person is a conservative who doesn't make too many changes and respects traditions in place. Geronimo Fernadez was also on hand to pay his respects. 'He made a lot of changes quickly,' Fernandez said of Pope Francis, adding that wasn't necessarily a good thing. Fernandez said his hope for the next pope is someone younger and authentic. For his part, Denis Pelchat gave Pope Francis high marks and said while he couldn't get everything done on his list, what he did was remarkable. 'I'm here to pay tribute to Pope Francis, who I loved, who I read, who inspired me greatly,' Pelchat said. As for the next pope, Pelchat said he'll 'trust in God.' 'I have no expectations. For the past 50 years, we've always been amazed by all popes who have been elected, who've always brought something special,' Pelchat said. Asked about his own hopes for the next pope, Lépine was coy. 'I'm expecting to be surprised by the choice of the next pope,' he said with a smile. This report by The Canadian Press was first published April 26, 2025.
Winnipeg Free Press
26-04-2025
- Politics
- Winnipeg Free Press
‘Like time stopped': memorial mass in Montreal pays tribute to Pope Francis
MONTREAL – Hours after waking to watch Pope Francis being laid to rest, several dozen faithful paid a final tribute to the late pontiff at a memorial mass at Montreal's Mary, Queen of the World Cathedral on Saturday. The downtown cathedral — a one-quarter replica of St. Peter's Basilica in Rome — has been at the centre of events in Montreal marking the passing of Pope Francis, who died on Easter Monday. A larger crowd gathered on Tuesday evening for a requiem mass. Christian Lépine, the Archbishop of Montreal, presided over the Saturday mass. Like many, he was up at the crack of dawn to watch the procession on television and has been at the heart of local events. 'It's like time stopped for the whole week,' Lépine said at the conclusion of the sombre event. 'Pope Francis was at the forefront of many things,' Lépine said. 'We give the people the space where they can mourn together and pray together so that's what we've been doing, offering a space with the people to mourn together.' Michelina Lavoratore said she came to pay her respects for Francis and said the pope should be remembered for his frequent calls for peace that fall on deaf ears of political leaders. Lavoratore, a dame of the Order of the Holy Sepulchre, a Catholic order, said as such, she had a special attachment to the pope. 'I admired him,' she said. But also on the minds of some Catholics is who will come next. Lavoratore said for the next pope, she hopes the person is a conservative who doesn't make too many changes and respects traditions in place. Geronimo Fernadez was also on hand to pay his respects. 'He made a lot of changes quickly,' Fernandez said of Pope Francis, adding that wasn't necessarily a good thing. Fernandez said his hope for the next pope is someone younger and authentic. For his part, Denis Pelchat gave Pope Francis high marks and said while he couldn't get everything done on his list, what he did was remarkable. During Elections Get campaign news, insight, analysis and commentary delivered to your inbox during Canada's 2025 election. 'I'm here to pay tribute to Pope Francis, who I loved, who I read, who inspired me greatly,' Pelchat said. As for the next pope, Pelchat said he'll 'trust in God.' 'I have no expectations. For the past 50 years, we've always been amazed by all popes who have been elected, who've always brought something special,' Pelchat said. Asked about his own hopes for the next pope, Lépine was coy. 'I'm expecting to be surprised by the choice of the next pope,' he said with a smile. This report by The Canadian Press was first published April 26, 2025.
