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When iolite Steps In.

iolite is, by default, a patient and largely passive owner. The founders and operators iolite backs have companies to run — and, more often than not, better things to do than talk to their shareholders. Where iolite believes it can add value, it offers strategic or financial input, or helps create a catalyst for value to be recognised. Sometimes iolite is wrong, or a thesis does not play out — in which case iolite is as willing to step back as it is to step in more deliberately.

Dynacor is a case of stepping in. iolite knows the company intimately and believes deeply in the opportunity: Dynacor could be far better positioned and considerably more profitable, and the resources iolite has devoted to driving that change are, in its view, more than justified. It is also a Canadian-listed business — and iolite holds that minimum standards of governance and accountability are not optional, and that someone has to be willing to challenge when they are not met.