{
  "docId": "019dd923-622c-750b-8b95-a87005b884b8",
  "docSlug": "4cc7dff78d8c",
  "documentTitle": "Dye & Durham Limited (DND)",
  "authorId": "27_Engine_Capital",
  "authorName": "Arnaud Ajdler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2024-12-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7778431,
  "pageNumber": 7,
  "pageCount": 112,
  "prevPage": 6,
  "nextPage": 8,
  "slideType": "timeline",
  "function": "frame_situation",
  "density": "balanced",
  "nDataPoints": 1,
  "notes": "The timeline uses color-coding (green for Engine actions, red for DND obstruction/negative actions) to frame the narrative.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "timeline_visual"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b95-a87005b884b8/7",
  "deckHref": "/decks/019dd923-622c-750b-8b95-a87005b884b8",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b95-a87005b884b8.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b95-a87005b884b8#slide-7",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Over the past 11 months, we have attempted to engage privately, many times, with the Board to improve the Company's strategy, governance and capital allocation – but our efforts to work collaboratively have been met with obstruction and threats of litigation",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0396-73da-b8fa-82ef4bee6254",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.92,
        "x": 0.04,
        "y": 0.25
      },
      "kind": "diagram",
      "text": null,
      "attrs": null,
      "subkind": "timeline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "17d18c42-6e57-46fa-80c8-fabfb4028255",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.92,
        "x": 0.04,
        "y": 0.14
      },
      "kind": "paragraph",
      "text": "We invested in DND in 2022 and have a 7.1% stake in the Company. Over the past 11 months, we have attempted to engage privately, many times, with the Board to improve the Company's strategy, governance and capital allocation – but our efforts to work collaboratively have been met with obstruction and threats of litigation",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3ac3bb8d-1219-4a79-a42f-21bda2926c6e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.15,
        "x": 0.12,
        "y": 0.94
      },
      "kind": "source-note",
      "text": "Company filings, public materials.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c7b50bda-73d9-4252-8448-18a197ab125a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.7,
        "x": 0.04,
        "y": 0.08
      },
      "kind": "title",
      "text": "How We Got Here: Engine Attempted to Engage Constructively with DND to Strengthen Its Board",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d3e9a284-22c3-4e09-8073-b4ea15d28a0b",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "timeline",
      "slug": null,
      "matchId": "b65f8591-eca1-4993-b7b4-a4801a5f4fd0",
      "evidence": "Chronological sequence of events presented on a horizontal axis.",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 20,
      "from": 1,
      "beatId": "eb405c70-093e-4aec-a947-082a3c63c5f6",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Board's failures",
      "beatSlug": "overcoming-monster-the-monster",
      "evidence": "The deck presents a detailed critique of the Board's failures and value destruction.",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": "Hook",
      "parentBeatSlug": "hook"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}