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Plantro Calls on Dye & Durham Board to Respond to Undisclosed Whistleblower Complaints of Serious Director Misconduct
GlobeNewswire News Roomยท 2025-07-14 13:11
Core Viewpoint - Plantro Ltd. has raised serious allegations against the Board of Dye & Durham, specifically targeting Chair Arnaud Adjler and Audit Chair Tracey Keates for misconduct related to financial misrepresentation and retaliation against the former CFO [1][2][4]. Group 1: Allegations of Misconduct - The Board of Dye & Durham has received multiple whistleblower complaints, with the latest alleging misconduct by Arnaud Adjler and Tracey Keates [2]. - The allegations include attempts by the Board members to force the former CFO to misrepresent the Company's Q3 FY2025 financial statements through aggressive accounting practices, which would violate International Financial Reporting Standards (IFRS) [6]. - The former CFO raised concerns about failures in internal controls and governance practices, including the disclosure of confidential information to third parties [6]. Group 2: Calls for Action - Plantro has called for the immediate resignation of the implicated directors to protect the integrity and shareholder value of Dye & Durham [1][2]. - The Board is urged to reinstate the recently deposed independent chairman, Hans T. Gieskes, to ensure stable and independent leadership [2]. - Plantro encourages other shareholders who value good governance to express their concerns to the Board [4]. Group 3: Shareholder Information - Plantro beneficially owns approximately 11% of Dye & Durham, representing 7,374,510 common shares [10]. - Martha Vallance, a concerned shareholder, holds 38,600 common shares and options for an additional 425,433 shares, potentially increasing her ownership to approximately 0.69% [10].