Barnwell Industries Inc. has urged its shareholders to follow the voting recommendations made by Institutional Shareholder Services Inc. (ISS) ahead of its upcoming shareholder meeting. In their report dated May 7, 2025, ISS recommended the election of Heather Isidoro from the slate proposed by Ned Sherwood and his affiliates. However, ISS advised against the removal of Kenneth Grossman, Joshua Horowitz, and Douglas Woodrum from Barnwell's Board, while supporting the removal of Alex Kinzler. The advisory firm also recommended votes against dissident nominees James Cornell, Stuart Oran, Ned Sherwood, and Gregory Sullivan. Barnwell expressed disappointment over the recommendation to remove Mr. Kinzler but acknowledged the election of Ms. Isidoro as a reasonable outcome. The company emphasized the importance of protecting shareholder value by rejecting the Sherwood Group's attempt to take over the board, highlighting the lack of a credible plan from the Sherwood Group. Shareholders are encouraged to vote using the WHITE consent revocation card.
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