- Dye & Durham (DND) has provided an update on the mandated disposition of TM Group as part of its undertaking to the United Kingdom’s Competition and Markets Authority (CMA)
- The company engaged Raymond James Financial International and INFOR Financial as financial advisors in the sale of TM Group, and multiple bidders have been engaged in an auction process
- Dye & Durham intends to call a special meeting of its shareholders in May 2023 to seek approval for the arrangement
- Dye & Durham is a leading provider of cloud-based software and technology solutions for legal and business professionals
- Dye & Durham (DND) opened today at $18.19
Dye & Durham (DND) has provided an update on its mandated disposition of TM Group.
The company has engaged Raymond James Financial International and INFOR Financial as financial advisors to oversee the sale to a third party. The sale is the company’s first and preferred option to satisfy the United Kingdom’s Competition and Markets Authority (CMA) undertaking.
Alternatively, finnCap has been engaged as a nominated advisor for a potential admission of TM Group to AIM, a market operated by the London Stock Exchange. To effect an AIM admission, Dye & Durham would first effect a spin-out of TM Group to its shareholders, then seek admission to the AIM market.
Dye & Durham believes having two options for the disposition process is responsible and will ensure maximum shareholder value.
The company intends to call a special meeting of its shareholders in May 2023 to seek approval for the arrangement and expects to apply for an interim court order with respect to the arrangement.
The arrangement is subject to the approval of the CMA, the Ontario Superior Court of Justice, the company’s shareholders and the TSX.
Dye & Durham is a leading provider of cloud-based software and technology solutions for legal and business professionals.
Dye & Durham (DND) opened today at $18.19.