Dye & Durham Calls Truce with Shareholder and Initiates Strategic Review

Davies recently acted for Dye & Durham’s board in its response to actions by major shareholder Plantro Ltd. and the company’s former CEO, Matthew Proud, that ultimately led to a settlement. The major shareholder withdrew its special meeting requisition to nominate three new directors, while the board appointed a new independent director nominated by the shareholder and initiated a review of strategic alternatives.

In 2024, Davies acted for U.S. hedge fund Engine Capital LP in connection with its successful proxy contest at Dye & Durham, which led to the complete reconstitution of the board of directors and the resignation of the incumbent CEO.

The Davies team for this mandate included: Aaron Atkinson, Ghaith Sibai, and Brandon Orr (Shareholder Activism); and Derek Ricci and Kristine Spence (Litigation).