Notes Rampant Use of Terms ‘Related Party’ and ‘Conflicts of Interest’
Suggests Braemar’s Massive Stock Price Decline Today is Justified
“Braemar filed its Definitive Proxy and Braemar’s shares finished down 7% while the markets took out record highs.
Blackwells highlights excerpts it believes demonstrate that the current Braemar board, at best, is completely disconnected from reality:
- “…our Board has focused on selecting experienced board candidates who will work together constructively with a focus on operational excellence, financial strength, and the growth of stockholder value.”
- “The Board believes that our leadership structure provides a very well-functioning and effective balance between strong company leadership and appropriate safeguards and oversight by independent directors.”
- “The Board recognizes the importance of ensuring that our overall business strategy is designed to create long-term value for our stockholders and maintains an active oversight role in formulating, planning and implementing the Company's strategy.”
- “Mr. Bennett is uniquely qualified to serve as a director of the Company and as the Chairman of the Board.”
The term “Conflicts of Interest” is mentioned 13 times in the Definitive Proxy. The term “Related Party” is mentioned 22 times. At the very end of the Definitive Proxy, the Company uses 337 words to explain their unique way of measuring EBITDA with the partial justification “we believe these measurements (i) more accurately reflect the ongoing performance of our hotel assets and other investments.”
We urge stockholders to vote their proxy on the WHITE universal proxy card “FOR” each of the Blackwells nominees and the Blackwells proposals and put an end to the tomfoolery that
If you have any questions about voting your proxy or need replacement proxy materials, contact:
+1 (800) 322-2885 (toll free for shareholders)
proxy@mackenziepartners.com
Blackwells also encourages shareholders to review Blackwells’ materials, the details of its engagement with the Company, information about Blackwells’ nominees, and other important information at www.NoMoreMonty.com. Shareholders are also invited to follow Blackwells’ campaign on X at @nomoremonty and Instagram at @no_more_monty.
About
Blackwells is a multi-strategy alternative asset management firm that invests in public and private markets globally. Our public markets portfolio focuses on currencies, equities, credit and commodities. When necessary, we engage with public company boards to drive value for all stakeholders. Our private markets portfolio includes investments in space, clean energy, infrastructure, real estate and technology. Further information is available at www.blackwellscap.com.
Contacts
Stockholders
Toll Free: +1 (800) 322-2885
proxy@mackenziepartners.com
Media
646-569-5897
blackwells@gagnierfc.com
IMPORTANT ADDITIONAL INFORMATION
Blackwells,
ALL STOCKHOLDERS OF THE COMPANY ARE ADVISED TO READ THE DEFINITIVE PROXY STATEMENT, THE ACCOMPANYING WHITE UNIVERSAL PROXY CARD AND OTHER DOCUMENTS RELATED TO THE SOLICITATION OF PROXIES BY THE PARTICIPANTS, AS THEY CONTAIN IMPORTANT INFORMATION, INCLUDING ADDITIONAL INFORMATION RELATED TO THE PARTICIPANTS AND THEIR DIRECT OR INDIRECT INTERESTS IN THE COMPANY, BY SECURITY HOLDINGS OR OTHERWISE.
The definitive proxy statement and an accompanying WHITE universal proxy card will be furnished to some or all of the Company’s stockholders and are, along with other relevant documents, available at no charge on the SEC’s website at http://www.sec.gov/. In addition, the Participants will provide copies of the definitive proxy statement without charge, upon request. Requests for copies should be directed to Blackwells.
The Company’s board of directors has purported to reject as invalid our nominations to elect each of Blackwells’ nominees and determined that our notice is purportedly non-compliant with the Company’s Fifth Amended and Restated Bylaws, as amended (the “Bylaws”) and defective. On
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2024 GlobeNewswire, Inc., source