07:41 AM EDT, 10/15/2024 (MT Newswires) -- Dye & Durham ( DYNDF ) on Tuesday said it signed a cooperation agreement with Blacksheep Fund Management, which has a 6% stake in the company.

Blacksheep, which now has the right to appoint a board member, has agreed to support Dye & Durham ( DYNDF ) nominees at the 2024 & 2025 annual meeting.

The two parties also agreed to mutually identify a new independent director nominee for the board, a statement said. This nominee will have a background that may include information services and/or SaaS, legal and financial services, capital allocation, and operational experience and expertise.

"We are pleased to have reached an agreement with Blacksheep that provides for additional board refreshment, and allows the company to remain focused on driving value for all its stakeholders," said Colleen Moorehead, chair of the board.