Articles from Engine Capital LP

Engine Capital LP (together with its affiliates, “Engine” or “we”), which owns approximately 9.8% of Civeo Corporation’s (NYSE: CVEO) (“Civeo” or the “Company”) outstanding shares, today sent a letter to the Company’s Board of Directors outlining several opportunities to close Civeo’s significant valuation gap and unlock value for shareholders.

Engine Capital LP (together with its affiliates, “Engine” or “we”), which owns approximately 2.5% of Parkland Corporation’s (TSX: PKI) (“Parkland” or the “Company”) outstanding shares, today issued the following statement:

Engine Capital LP (together with its affiliates, "Engine" or "we"), a meaningful shareholder of Smiths Group plc (LSE: SMIN) (the “Company”), today sent a letter calling on the Company’s Board of Directors to publicly commit to a strategic alternatives process aimed at a sale to maximize value for shareholders.

Engine Capital LP (together with its affiliates, "Engine" or "we"), which owns approximately 7.1% of the issued and outstanding common shares of Dye & Durham Limited (TSX: DND) ("Dye & Durham" or the "Company"), today confirmed that its six-member slate of directors – Arnaud Ajdler, Hans T. Gieskes, Tracey Keates, Ritu Khanna, Anthony Kinnear and Sid Singh – and OneMove Capital Ltd.’s nominee, Eric Shahinian, will constitute the entirety of the Company’s Board of Directors (the “Board”) and will be the only director candidates to stand for election at Dye & Durham’s 2024 Annual Meeting of Shareholders (the “Annual Meeting”). This follows the resignations of all of the Company’s current directors. Preliminary results indicate that an overwhelming majority of shares voted in support of Engine’s full six-member slate prior to the Board’s resignation.

Engine Capital LP (together with its affiliates, "Engine" or "we"), which owns approximately 7.1% of the issued and outstanding common shares of Dye & Durham Limited (TSX: DND) ("Dye & Durham" or the "Company"), today announced that more than 63% of Dye & Durham’s outstanding shares have voted on Engine’s Blue Proxy Card with a majority of the outstanding shares voting in favor of each of Engine’s six nominees. Based on the proxies deposited with the Company today, once Engine casts its ballots at the December 17th Annual Meeting, Engine expects that its entire slate will be elected.

Engine Capital LP (together with its affiliates, "Engine" or "we"), which owns approximately 7.1% of the issued and outstanding common shares of Dye & Durham Limited (TSX: DND) ("Dye & Durham" or the "Company"), today announced that Glass, Lewis & Co. (“Glass Lewis”) has recommended that Dye & Durham shareholders support meaningful boardroom change by voting for four of its six directors at the Company’s 2024 Annual Meeting of Shareholders to be held on December 17, 2024. Glass Lewis recommends that shareholders vote the BLUE proxy card to elect Arnaud Ajdler, Hans T. Gieskes, Anthony Kinnear and Sid Singh to the Board of Directors (the “Board”).

Engine Capital LP (together with its affiliates, "Engine" or "we"), which owns approximately 7.1% of the issued and outstanding common shares of Dye & Durham Limited (TSX: DND) ("Dye & Durham" or the "Company"), today published an open letter to its fellow shareholders outlining the path to a brighter future at Dye & Durham. Engine is asking shareholders to vote on the BLUE proxy card, as was recommended by leading proxy advisory firm Institutional Shareholder Services Inc. (“ISS”), to elect all six of Engine’s directors to the Company’s Board of Directors (the “Board”) at the 2024 Annual Meeting of Shareholders (the “Annual Meeting”): Arnaud Ajdler, Hans T. Gieskes, Tracey Keates, Ritu Khanna, Anthony Kinnear and Sid Singh.

Engine Capital LP (together with its affiliates, "Engine" or "we"), which owns approximately 7.1% of the issued and outstanding common shares of Dye & Durham Limited (TSX: DND) ("Dye & Durham" or the "Company"), today announced that Institutional Shareholder Services Inc. (“ISS”), a leading independent proxy advisory firm, has recommended that Dye & Durham shareholders support meaningful boardroom change by voting for three of its six directors at the Company’s 2024 Annual Meeting of Shareholders to be held on December 17, 2024. ISS recommends that shareholders vote the BLUE proxy card to elect Arnaud Ajdler, Hans T. Gieskes and Anthony Kinnear to the Board of Directors (the “Board”).

Engine Capital LP (together with its affiliates, "Engine" or "we"), which owns approximately 7.1% of the issued and outstanding common shares of Dye & Durham Limited (TSX: DND) ("Dye & Durham" or the "Company"), today issued an open letter to Dye & Durham employees from its slate of directors expressing their enthusiasm for bringing stability to the Company and improving the culture for the benefit of all its stakeholders.

Engine Capital LP (together with its affiliates, "Engine" or "we"), which owns approximately 7.1% of the issued and outstanding common shares of Dye & Durham Limited (TSX: DND) ("Dye & Durham" or the "Company"), today released a presentation highlighting the opportunity to meaningfully upgrade Dye & Durham’s Board of Directors (the “Board”) by electing Engine’s six director candidates, who possess relevant expertise in software, legal technology, corporate turnarounds, capital allocation, governance and succession planning. Engine also filed its Information Circular and sent a letter to shareholders in connection with the upcoming Annual Meeting of Shareholders (the “Annual Meeting”) to be held on December 17, 2024.

Engine Capital LP (together with its affiliates, "Engine" or "we"), which owns approximately 7.1% of the issued and outstanding common shares of Dye & Durham Limited (TSX: DND) ("Dye & Durham" or the "Company"), today issued the following statement in response to the Company’s announcement that Matt Proud will be stepping down from his role as CEO:

Engine Capital LP (together with its affiliates, "Engine" or "we"), which owns approximately 7.1% of the issued and outstanding common shares of Dye & Durham Limited (TSX: DND) ("Dye & Durham" or the "Company"), today issued the following statement regarding the Board of Directors’ (the “Board”) recent efforts to entrench itself and disenfranchise shareholders, including by raising frivolous concerns about Engine’s director nomination notice as a potential prelude to invalidate the nomination:

Engine Capital LP (together with its affiliates, "Engine" or "we"), which owns approximately 7.1% of the issued and outstanding common shares of Dye & Durham Limited (TSX: DND) ("Dye & Durham" or the "Company"), today announced that it has nominated six highly qualified candidates for election to the Company’s Board of Directors (the “Board”) at the 2024 Annual Meeting of Shareholders (the “Annual Meeting”) and issued the following statement:

Engine Capital LP (together with its affiliates, "Engine" or "we"), which owns approximately 7.1% of Dye & Durham Limited’s (TSX: DND) ("Dye & Durham" or the "Company") outstanding shares, today issued the below statement regarding Dye & Durham’s confirmation that it is exploring a sale of the Company.

Engine Capital LP (together with its affiliates, “Engine” or “we”), which owns approximately 7.1% of Dye & Durham Limited’s (TSX: DND) (“Dye & Durham” or the “Company”) outstanding shares, today issued the below statement.

Engine Capital LP (together with its affiliates, “Engine” or “we”), which owns approximately 7.1% of Dye & Durham Limited’s (TSX: DND) (“Dye & Durham” or the “Company”) outstanding shares, today issued the below statement following the Company’s rescheduling of a Special Meeting of Shareholders (the “Special Meeting”) to December 10, 2024, less than two weeks before the date the Company has historically held its annual general meetings (“AGM”).1

Engine Capital LP (together with its affiliates, “Engine” or “we”), which owns approximately 7.1% of Dye & Durham Limited’s (TSX: DND) (“Dye & Durham” or the “Company”) outstanding shares, today issued the below letter to the Company’s Board of Directors (the “Board”).

Engine Capital LP, which owns approximately 3.5% of the outstanding shares of Upwork Inc. (Nasdaq: UPWK) (“Upwork” or the “Company”), today announced it sent the below letter to the Company’s Board of Directors regarding actionable opportunities for enhancing shareholder value.

Engine Capital LP (together with its affiliates, “Engine” or “we”), which owns approximately 7.1% of Dye & Durham Limited’s (TSX: DND) (“Dye & Durham” or the “Company”) outstanding shares, today issued the below letter to the Company’s Board of Directors (the “Board”).

Engine Capital LP today issued the below letter regarding its decision to nominate two highly qualified candidates for election to the Board of Directors of C&C Group Plc (LSE: CCR) at the 2024 Annual General Meeting.

Engine Capital LP (together with its affiliates, “Engine” or “we”), which owns approximately 7.1% of Dye & Durham Limited’s (TSX: DND) (“Dye & Durham” or the “Company”) outstanding shares, today issued the following letter to the Company’s Board of Directors (the “Board”):

Engine Capital, LP, which owns just under 5% of C&C Group Plc’s (LSE: CCR) outstanding common shares, today sent the below letter to C&C Group Plc’s Board of Directors.

Engine Capital LP, which owns approximately 6.6% of Dye & Durham Limited’s (TSX: DND) outstanding shares, today issued the following open letter to Dye & Durham’s Board of Directors.

Engine Capital LP, which owns approximately 6.6% of Dye & Durham Limited’s (TSX: DND) outstanding shares, today issued the following letter to shareholders:

Engine Capital LP, which owns approximately 2.5% of Parkland Corporation’s (TSX: PKI) outstanding shares, today sent the above letter to members of Parkland Corporation’s Board of Directors.

Engine Capital LP, which owns approximately 2.5% of Parkland Corporation’s (TSX: PKI) outstanding shares, today announced that it has sent the below letter to members of Parkland Corporation’s Board of Directors.

Engine Capital LP, which owns approximately 2.0% of Parkland Corporation’s (TSX: PKI) (“Parkland” or the “Company”) outstanding shares, today announced that it has sent the below letter to members of the Company’s Board of Directors.

Engine Capital LP, which owns approximately 1% of Univar Solutions Inc.’s (NYSE: UNVR) (“Univar” or the “Company”) shares, today announced that it has sent the below letter to the members of the Company’s Board of Directors.

Engine Capital LP (together with its affiliates, “Engine” or “we”), a long-term shareholder of Houghton Mifflin Harcourt Company (NASDAQ: HMHC) (“HMHC,” “Houghton Mifflin” or the “Company”) with ownership of approximately 2.7% of the Company’s outstanding shares, today issued a presentation detailing its strong opposition to the $21 per share tender offer made by Veritas Capital (“Veritas”). In particular, the presentation highlights the following facts:

Engine Capital LP today announced that it has sent the below letter to Kohl's Corporation's (NYSE: KSS) Board of Directors.

Engine Capital LP (together with its affiliates, “Engine” or “we") today announced that it has withdrawn its nomination of candidates for election to Blucora, Inc.’s (NASDAQ: BCOR) (“Blucora” or the “Company”) Board of Directors (the “Board”) at the upcoming Annual Meeting of Shareholders (the “Annual Meeting”). Engine believes the recent appointments of cybersecurity expert Kanayalal A. Kotecha and former investment banker J. Richard Leaman III represent a step in the right direction, especially given our publicly articulated concerns about the Company’s strategy and corporate structure. While Engine is disappointed with the Board’s yearslong resistance to adding a shareholder representative with financial expertise, we are hopeful that the addition of Mr. Leaman III as a director will help address Blucora’s failed “synergy-focused” strategy, excessive corporate overhead and sustained underperformance. Given his experience, we expect Mr. Leaman III will quickly identify that Blucora trades at a significant discount to the sum-of-the-parts and recognize the need to consider steps to close the valuation gap. Given our extensive engagement with leadership and these subsequent changes at Blucora, Engine will give the reconstituted Board ten months to address long-standing issues and unlock value for shareholders. Engine intends to continue engaging with the Board and absent enhanced value creation in 2022, we may seek meaningful change at Blucora’s 2023 Annual Meeting of Shareholders.

Engine Capital LP today issued the below letter regarding its decision to nominate three highly qualified and independent candidates for election to the Board of Directors of Blucora, Inc. (NASDAQ: BCOR) at the 2022 Annual Meeting of Shareholders.

Engine Capital LP today announced that it has sent the below letter to Kohl's Corporation's (NYSE: KSS) Board of Directors.