TORONTO, Ontario — December 18, 2025 — Leads & Copy — Dye & Durham Limited (TSX: DND) has formally launched its strategic sale process and secured a waiver from default under its senior credit agreement. The company also expects to file its audited financial statements the week of December 22.
Dye & Durham, a cloud-based legal practice management software provider, announced an update on its previously announced strategic review and that it has obtained the necessary consents for an amendment to its senior credit agreement. The amendment provides the company until February 17, 2026, to file its audited consolidated financial statements for the fiscal year ended June 30, 2025, and its quarterly unaudited consolidated financial statements for the quarter ended September 30, 2025, without triggering a default.
The company also updated the status of the sale of Credas Technologies Ltd. and the status of its financial statements.
Dye & Durham’s Strategic Committee has been evaluating strategic alternatives with its advisors since October 8, 2025. The committee has decided to begin a sale process, seeking written expressions of interest for both the company as a whole and its Canadian Financial Services Division.
Cormark Securities Inc. and Canaccord Genuity Corp. have been engaged as financial advisors.
The company said it received confirmation from the UK Investment Security Unit granting unconditional clearance for the sale of Credas. No further regulatory approvals are needed, and the company expects closing in early January.
The amendment to the senior credit agreement includes provisions that (a) the company has until February 17, 2026, to file its financial statements, (b) the definition of “Change of Control” is amended, and (c) any subsidiary that the assets of the company’s Financial Services Business are contributed into shall be required to be joined as a “Guarantor”.
The company agreed to pay a consent fee to its senior lenders and will not use certain restricted payment baskets until the financial statements are filed.
No waivers or amendments are required under the company’s other debt instruments before February 21, 2026, and the amendment ensures Dye & Durham continues to have full access to liquidity under its revolving credit facility.
Dye & Durham is addressing outstanding audit items and requests from its auditor for the annual financial statements’ audit and expects the audit to be complete the week of December 22, 2025. The company is also advancing the Q1 financial statements and anticipates filing all required filings on the same date.
The company expects the filing of the required filings to constitute an application to revoke the failure-to-file cease trade order issued by the Ontario Securities Commission on December 15, 2025, with the expectation that the FFCTO will be revoked shortly after filing. Upon revocation, the company expects its common shares to resume trading on the Toronto Stock Exchange.
Additional information can be found at www.dyedurham.com.
Source: Dye & Durham
