Al Shams to Nominate Majority Slate for Braemar Board

Management
โดย PR Newswire·US·Read original
Summary · why it matters

Al Shams Investments Limited, the largest shareholder of Braemar Hotels & Resorts Inc., has announced its intention to nominate a full slate of independent directors sufficient to change control of the board, following what it calls an extraordinarily short nomination window set by the company. In a letter to shareholders, Al Shams criticized Braemar's announcement of the September 14 deadline just before a holiday weekend as a governance maneuver designed to keep shareholders off guard. The Bermuda-based investment firm, which holds 6,513,000 shares of Braemar common stock, plans to present five nominees who, if elected, will work to safeguard shareholder interests. Al Shams and Wafic Rida Said are the participants in the proxy solicitation, and they will file a definitive proxy statement with the SEC.

Impact on stocks 3

Real Estate▼ · 1 stocks
Braemar Hotel & Resorts Inc
BHR
▼ NegativeRegulationrelevance

Al Shams, Braemar's largest shareholder, is launching a proxy fight to nominate a majority slate and change control of the board, citing a governance maneuver.

Climate Adaptation & Water▲ · 1 stocks
Industrials▲ · 1 stocks

Off-coverage companies 1

Al Shams Investments LimitedPrivate▲ Positive
Regulationrelevance

Al Shams is acting to safeguard shareholder interests by nominating five independent directors to change control of Braemar's board.

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