Tyler Proud reduces Dye & Durham stake below 10%

CPE News

CPE News (12.20.2023) – OneMove Capital Ltd., formerly Seastone Invest Limited, has disposed of ownership and control over 75,000 common shares of Dye & Durham Limited (TSX: DND) on December 19, 2023, pursuant to sales made through the facilities of the Toronto Stock Exchange (TSX) at a price of $15.10 per share, for aggregate gross proceeds to OneMove of $1,132,500.

Prior to the completion of the sale, OneMove owned and exercised control over 5,515,876 shares, representing of approximately 10.05% of the then-outstanding shares.

Immediately following the completion of the sale, OneMove owns and exercises control over 5,440,876 shares, representing approximately 9.91% of the outstanding shares.

As long as its ownership, full or partial, is below 10%, OneMove would no longer be obliged of reporting any dispositions.

On November 2, 2023, OneMove filed acquired 300,000 shares through the facilities of the TSX at a price of $10.00 per share for an aggregate purchase price of $3,000,609, increasing its ownership from 9.49% to 10.05%

OneMove is a party to an investor rights agreement dated July 17, 2020 with Dye & Durham Limited and Plantro Ltd., a Bermuda based investment company owned by CEO Matthew Proud.

For so long as OneMove beneficially owns 5% or more of the then-outstanding shares, OneMove is entitled to designate one (1) nominee for election as one of seven directors at the board of directors of Dye & Durham Limited.

OneMove is a Barbados based privately held investment holding company formed under the laws of the British Virgin Islands and controlled by Tyler Proud.

photo credit: Dye & Durham

News Release

OneMove Capital Ltd. Decreases Ownership Position in Dye & Durham to Below 10%

BRIDGETOWN, Barbados, Dec. 20, 2023 (GLOBE NEWSWIRE) — OneMove Capital Ltd. (“OneMove”) announced today that it disposed of ownership and control over 75,000 common shares (each a “Common Share”) of Dye & Durham Limited (the “Company”) on December 19, 2023, pursuant to sales made through the facilities of the Toronto Stock Exchange (the “TSX”) at a price of $15.10 per Common Share, for aggregate gross proceeds to OneMove of $1,132,500 (the “Sale”).

Prior to the completion of the Sale, OneMove owned and exercised control over 5,515,876 Common Shares. The Common Shares owned and controlled by OneMove immediately prior to the Sale represented an aggregate of approximately 10.05% of the then-outstanding Common Shares.

Immediately following the completion of the Sale, OneMove owns and exercises control over 5,440,876 Common Shares. The Common Shares owned and controlled by OneMove immediately following the Sale represent an aggregate of approximately 9.91% of the outstanding Common Shares, resulting in a decreased ownership of approximately 0.14% of the outstanding Common Shares.

The Sale was undertaken by OneMove for investment purposes. OneMove intends to review its investment on a continuing basis. Depending on various factors, OneMove may in the future purchase or sell securities or engage in other activities relating to the Company.

In accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, OneMove will file an early warning report regarding the Sale on the System for Electronic Data Analysis and Retrieval + (SEDAR+) at www.sedarplus.ca under the Company’s issuer profile. Copies of the related early warning report may be obtained at www.sedarplus.ca under the Company’s issuer profile or from OneMove by contacting Wendy Cheah at 786-220-1588.

OneMove is a privately held investment holding company formed under the laws of the British Virgin Islands. The head office of OneMove is located at Cidel Place, Lower Collymore Rock, St. Michael, Barbados, BB11000.

The head office of the Company is located 25 York Street, Suite 1100, Toronto, Ontario, M5J 2V5, Canada.