Dye & Durham Takes Legal Action Against Plantro Over Alleged Agreement Breach

Dye & Durham is initiating legal action against Plantro Ltd. and its former CEO, Matthew Proud, to enforce a cooperation agreement signed in July 2025, which Plantro and Proud have allegedly repudiated. The company seeks a court declaration affirming the agreement's validity and an injunction to prevent further breaches, as part of its ongoing strategic review process. Plantro, a significant minority shareholder owning about 11% of Dye & Durham, has proposed a partial cash takeover, which the Strategic Committee is actively evaluating alongside other strategic alternatives. This legal dispute centers on standstill restrictions agreed upon during the strategic review and follows allegations raised by Plantro concerning Dye & Durham's board conduct. The Strategic Committee, supported by advisors CIBC Capital Markets and Osler, Hoskin & Harcourt LLP, has until December 29, 2025, to initiate a sales process, and the outcome of this legal and strategic tussle could significantly impact Dye & Durham's control and future direction. The case highlights the complexities legal conflicts introduce to corporate governance and mergers and acquisitions.