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Dye & Durham Provides Update on TM Group Disposition
Dye & Durham Provides Update on TM Group Disposition Dye & Durham Provides Upda...
About this update from Dye & Durham Ltd.
[{"type":"text","content":"\n \n \n \n Dye & Durham Provides Update on TM Group Disposition\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n Dye & Durham Provides Update on TM Group Disposition\n \n \n Canada NewsWire\n \n \n \n \n \n \n \n Engaging with multiple bidders in effort to sell TM Group to third party via auction\n \n \n \n \n \n \n Sale to third party remains Company's strong preference\n \n \n \n \n \n \n Also exploring potential AIM admission and related spin out of TM Group as alternative path to maximizing shareholder value\n \n \n \n \n \n \n Company believes preserving optionality is in best interest of Company and shareholders\n \n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n March 27, 2023\n \n \n /CNW/ - Dye & Durham Limited (TSX: DND) (\"Dye & Durham\" or the \"Company\"),  one of the world's largest providers of cloud-based legal practice management software designed to make managing a law firm, organizing cases, and collaborating with clients easy, today provided an update in respect of its mandated disposition (the \"disposition\") of TM Group (UK) Limited (\"TM Group\").\n \n \n As previously disclosed, Dye & Durham has undertaken to the\n \n United Kingdom's\n \n Competition and Markets Authority (the \"CMA\") to dispose of TM Group (the \"undertaking\"). The Company has engaged Raymond James Financial International Limited and INFOR Financial Inc. to act as financial advisors in respect of a sale of TM Group. The sale of TM Group to a third party remains Dye & Durham's first and preferred option for satisfying the CMA undertaking, and the Company has engaged with multiple bidders as part of an auction process.\n \n \n As an alternative option, finnCap Ltd. has been engaged as nominated advisor with respect to a potential admission of TM Group to AIM, a market operated by the London Stock Exchange plc. In order to effect an AIM admission, Dye & Durham would first effect a spin-out of TM Group to its shareholders and then seek admission of TM Group to AIM market.\n \n \n The Company believes having two optio...