Barnwell Industries, Inc. Reaches Cooperation and Support Agreement With its Largest Stockholders
Retrieved on:
Monday, January 23, 2023
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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.