Plantro Announces Filing of Amended Early Warning Report regarding its Holdings of Dye & Durham Limited

ST. MICHAEL, Barbados, April 24, 2025 /CNW/ - Plantro Ltd. ("Plantro") announced today that it has filed an amended early warning report (the "Amended EWR") in connection with its holdings of common shares ("Common Shares") in the capital of Dye & Durham Limited ("Dye & Durham" or the "Company"). The Amended EWR was filed to amend and update certain information contained in Item 5 of the early warning report previously filed by Plantro on January 20, 2025.

The Amended EWR updates certain disclosure regarding Plantro's intention regarding buying and/or selling of Common Shares. Specifically, the Amended EWR discloses that Plantro believes that the actions of the current board and management of Dye & Durham have resulted in a significant decrease in the share price of the Common Shares. At the same time Plantro believes in the underlying business of the Company. To that end, Plantro is considering all of its options including purchasing additional Common Shares privately or on the market, submitting an offer to acquire all the Common Shares, or becoming part of another buyer group. Plantro would also consider disposing of its Common Shares to a third-party buyer at an appropriate price.

Plantro's actions will depend on the price, market conditions, availability of funds, evaluation of alternative investments and other factors it considers relevant from time to time.

Plantro has previously approached the Company to, among other things, purchase all of the issued and outstanding Common Shares at a significant premium to market of over 100 percent based on current market prices. The Company was not prepared to negotiate with Plantro. Plantro has also been asked to potentially roll all of its Common Shares into a third-party proposal to acquire all the Common Shares by a prospective well capitalized third-party purchaser, subject to standard due diligence, at a significant premium that was also over 100 percent based on current market prices. Plantro has been advised that the Company rejected the offer from the third-party and that the Company would not negotiate with such third-party.

Dye & Durham's address is 25 York Street, Suite 1100, Toronto, Ontario, M5J 2V5. Plantro's address is Cidel Place, Lower Collymore Rock, St. Michael, Barbados 11000. To obtain a copy of the related early warning report please contact Amanda J. Lashley at +1 246-430-5350.

SOURCE Plantro Ltd