Dye & Durham comments on media report over Plantro

Executive Summary

• Dye & Durham Ltd. issued a statement responding to media reports regarding a Statement of Defence and Counterclaim filed by Plantro Ltd. and Matthew Proud in an ongoing legal dispute.
• The company and its directors/officers strongly disagree with the allegations and intend to respond through the court system.
• The legal action stems from Plantro and Proud's alleged breach of a Co-operation Agreement dated July 29, 2025, which included standstill restrictions during the company's strategic review.

Key Details

• Legal Proceedings: Plantro Ltd. and Matthew Proud delivered a Statement of Defence and Counterclaim against Dye & Durham Ltd. and certain current/former directors and officers.
• Underlying Dispute: The lawsuit was initiated by Dye & Durham to enforce compliance with a Co-operation Agreement dated July 29, 2025.
• Court Orders: On November 21, 2025, Dye & Durham obtained a court order (by consent of Mr. Proud and Plantro) enjoining them from breaching the Co-operation Agreement.
• Agreement Terms: The Co-operation Agreement included standstill restrictions for the duration of the company's strategic review process, which remains ongoing.
• Compliance Status: Mr. Proud and Plantro are required to fully comply with their obligations under the Co-operation Agreement until the action is determined on its merits or by further court order.
• Company Stance: Dye & Durham states it will not comment on specific allegations due to the active nature of the legal matter but remains focused on executing its strategy and acting in the best interests of shareholders.

Notable Quotes

• "We are aware that Mr. Proud and Plantro have now delivered a statement of defence and counterclaim in response to the company's legal action against them seeking to hold them to the terms of the co-operation agreement dated July 29, 2025, between the company, Mr. Proud and Plantro."
• "The company and the individuals named as defendants to the counterclaim strongly disagree with the allegations in the statement of defence and counterclaim, and will respond through the court as appropriate."
• "Previously, on Nov. 21, 2025, Dye & Durham obtained a court order, on the consent of Mr. Proud and Plantro, enjoining them from breaching the terms of the co-operation agreement, under which Mr. Proud and Plantro agreed to certain standstill restrictions for the duration of the company's strategic review process, which remains ongoing."