1. Glenbrook Capital encourages votes for Bulldog's Slate on GREEN Proxy Card. 2. CalSTRS supports shareholder proposal to enhance shareholder influence. 3. Shareholders can call special meetings with 10% ownership threshold. 4. Cumulative voting benefits shareholders wanting change in governance. 5. Tejon's Annual Meeting scheduled for May 13, 2025.
Increased shareholder engagement and potential changes in governance can drive TRC's stock value up.
The actions proposed directly engage shareholders, potentially impacting TRC's stock performance and governance positively.
Immediate voting actions can affect shareholder sentiment and stock price leading to the meeting.
PALO ALTO, Calif., May 9, 2025 /PRNewswire/ -- Glenbrook Capital Management ("Glenbrook" or "we"), a long-time shareholder of Tejon Ranch Co. (NYSE:TRC) ("Tejon" or the "Company") and owner of approximately 1.1% of outstanding shares of the Tejon, thanks CalSTRS for its vote FOR both Item #4 to allow Tejon shareholders owning a combined 10% of outstanding shares to call a special meeting of shareholders and FOR Bulldog Capital's state of nominees ("Bulldog's Slate") to the Tejon Board of Directors (the "Board") on Bulldog's GREEN Proxy Card.
"We are happy that CalSTRS has joined us, Bulldog and Harvey Capital in recognizing the urgent need for change to unlock value at Tejon for shareholders. We believe their votes FOR the shareholder proposal ("Item 4") submitted by PFS Trust — which would enable Tejon shareholders owning a combined 10% of outstanding Tejon shares to call a special meeting — and FOR Bulldog's Slate are aligned with the best interests of Tejon shareholders.
Importantly, casting votes using Bulldog's GREEN Proxy Card enables cumulative voting and maximizes the impact of shares voted for Bulldog's Slate. Accordingly, we intend to vote FOR Item 4 and Bulldog's Slate on the GREEN Proxy Card at the Tejon Annual Meeting of Shareholders scheduled for next Tuesday, May 13, 2025, and urge other shareholders to do the same."
ASC Advisors
Taylor Ingraham
email@example.com
203-992-1230
Richard Rudgley
President, Glenbrook Capital Management
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Grover Wickersham
Chairman, Glenbrook Capital Management
415-601-1111
This press release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein in any state to any person. This press release does not constitute a solicitation of authority to vote any proxy card at the Annual Meeting of Shareholders of Tejon and Glenbrook is not asking for your proxy card.
The information herein contains "forward-looking statements." Specific forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and include, without limitation, words such as "may," "will," "expects," "believes," "anticipates," "plans," "estimates," "projects," "potential," "targets," "forecasts," "seeks," "could," "should" or the negative of such terms or other variations on such terms or comparable terminology. Similarly, statements that describe our objectives, plans or goals are forward-looking. Forward-looking statements are subject to various risks and uncertainties and assumptions. There can be no assurance that any idea or assumption herein is, or will be proven, correct or that any of the objectives, plans or goals stated herein will ultimately be undertaken or achieved. If one or more of such risks or uncertainties materialize, or if Glenbrook underlying assumptions prove to be incorrect, the actual results may vary materially from outcomes indicated by these statements. Accordingly, forward-looking statements should not be regarded as a representation by Glenbrook that the future plans, estimates or expectations contemplated will ever be achieved.
SOURCE Glenbrook Capital Management