University of Bath School of Management

Barnwell Industries, Inc. Reaches Cooperation and Support Agreement With its Largest Stockholders

Retrieved on: 
Monday, January 23, 2023

The Agreement extends for two years the standstill terms of the previous agreement entered into with the MRMP Stockholders in 2021, ending the potential of a proxy contest at the 2023 annual meeting of stockholders (the “2023 Annual Meeting”).

Key Points: 
  • The Agreement extends for two years the standstill terms of the previous agreement entered into with the MRMP Stockholders in 2021, ending the potential of a proxy contest at the 2023 annual meeting of stockholders (the “2023 Annual Meeting”).
  • The Board has determined that each of Mr. Horowitz and Narbut are independent under applicable NYSE rules and regulations.
  • He has held senior positions at Inverlochy Capital, an asset management firm, and Berggruen Holdings, the family office of Nicolas Berggruen.
  • Forward-looking statements involve risks, uncertainties and assumptions which could cause actual results to differ materially from those contained in such statements.