Barnwell Industries Inc. announced the adjournment of its 2025 Annual Meeting of Shareholders, initially held on May 29, 2025, due to the refusal of Ned Sherwood and his affiliates, collectively known as the Sherwood Group, to submit proxies solicited from shareholders. This refusal prevented the company from achieving a quorum for the first time in its 70-year history, leading to the delay of the meeting to June 2, 2025. The company expressed concerns that Sherwood's actions contradicted his public statement supporting shareholder will. Barnwell is consulting with legal and regulatory counsel to ensure a fair voting process at the rescheduled meeting. The adjourned meeting is set to take place at Suite 210, Alakea Corporate Tower in Honolulu, Hawaii. Shareholders with inquiries are encouraged to contact Okapi Partners, the company's proxy solicitor.
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