Barnwell Industries Announces Preliminary Results: Shareholders Reject Sherwood's Bid for Board Control

Reuters

2025/05/15

Barnwell Industries Announces Preliminary Results: Shareholders Reject Sherwood's Bid for Board Control

Barnwell Industries Inc. recently announced that its shareholders have rejected an attempt by Ned Sherwood and his affiliates to take full control of the company's Board of Directors. Preliminary results from the proxy solicitor revealed that while some changes were made, such as the removal of directors Alexander Kinzler and Douglas Woodrum and the election of Sherwood Group nominee Heather Isidoro, the Sherwood Group did not succeed in obtaining a majority on the Board. Despite the attempt, Barnwell Directors Ken Grossman and Joshua Horowitz will retain their positions, ensuring continued independent oversight. The company remains open to constructive discussions with the Sherwood Group and is awaiting a court decision regarding the validity of the Sherwood Group's nomination notice for the upcoming annual meeting. Additionally, shareholders consented to repeal a prior amendment to the company's bylaws. The final certified results will be reported in a Form 8-K filing with the SEC by May 19, 2025.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Barnwell Industries Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: NY88365) on May 14, 2025, and is solely responsible for the information contained therein.

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Preliminary results from the proxy solicitor revealed that while some changes were made, such as the removal of directors Alexander Kinzler and Douglas Woodrum and the election of Sherwood Group nominee Heather Isidoro, the Sherwood Group did not succeed in obtaining a majority on the Board. Despite the attempt, Barnwell Directors Ken Grossman and Joshua Horowitz will retain their positions, ensuring continued independent oversight. The company remains open to constructive discussions with the Sherwood Group and is awaiting a court decision regarding the validity of the Sherwood Group's nomination notice for the upcoming annual meeting. Additionally, shareholders consented to repeal a prior amendment to the company's bylaws. 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ID: NY88365) on May 14, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4213","symbol_name":"石油與天然氣的勘探與生產","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250514:nNDL2qJZt4:1","article_id":"2535888124","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2535888124","pubTimestamp":1747256123,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Barnwell Industries Inc. recently announced that its shareholders have rejected an attempt by Ned Sherwood and his affiliates to take full control of the company's Board of Directors. 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Despite the attempt, Barnwell Directors Ken Grossman and Joshua Horowitz will retain their positions, ensuring continued independent oversight. The company remains open to constructive discussions with the Sherwood Group and is awaiting a court decision regarding the validity of the Sherwood Group's nomination notice for the upcoming annual meeting. Additionally, shareholders consented to repeal a prior amendment to the company's bylaws. The final certified results will be reported in a Form 8-K filing with the SEC by May 19, 2025.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Barnwell Industries Inc. published the original content used to generate this news brief via PR Newswire (Ref. 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