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  "documentTitle": "Dye & Durham Limited (DND)",
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  "authorName": "Arnaud Ajdler",
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      "text": "The Company’s latest announcement flies in the face of these statements and compounds its credibility issues with shareholders.",
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      "text": "The example mentioned in this slide is very similar to recent actions taken by the Board... As a result of these acquisitions, the Company's level of debt has increased, and its leverage profile has worsened.",
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      "text": "Engine Capital LP 1345 Avenue of the Americas, 33rd Floor New York, NY 10105 (212) 321-0048 September 11, 2024 Dye & Durham Limited 1100-25 York Street Toronto, Canada M5J 2V5 Attention: Board of Directors",
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      "text": "These new acquisitions are even more disappointing considering the Board has consistently received feedback from many shareholders... The bottom line is that the Board is well aware of shareholders' concerns but simply does not care.",
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      "text": "We were incredibly disappointed by the Company's recent Q4 2024 earnings announcement... The Company's latest announcement flies in the face of these statements and compounds its credibility issues with shareholders.",
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      "text": "the Board has no appetite for M&A — Colleen Moorehead (Chair). The Board’s priority is to reduce debt. — Colleen Moorehead (Chair).",
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      "text": "1 Includes C$4.5 million in contingent consideration. 2 This analysis includes deferred payments that were part of the consideration for these acquisitions since these deferred payments are a liability for the Company.",
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