1. MILFAM intends to proceed with SRL's Annual Meeting as scheduled. 2. The Board previously postponed the meeting, which may violate company rules. 3. MILFAM controls over 58% of SRL shares, influencing board elections. 4. Any obstruction by the Board may be seen as a breach of duty. 5. MILFAM urges the Board to comply with shareholder wishes.
FAQ
Why Bullish?
The shareholder engagement indicates strong investor sentiment and governance interest. Historical examples show activist shareholders often push for positive changes, benefitting stock prices.
How important is it?
The shareholder control and impending board changes could significantly influence SRL's direction. Active shareholder participation reflects positive governance scenarios often attractive to investors.
Why Short Term?
The upcoming Annual Meeting is imminent, likely causing immediate fluctuations in SRL's price. Past meetings often result in rapid market reactions to governance changes.
MILFAM LLC Moves Forward with Annual General Meeting for Scully Royalty Ltd. (NYSE: SRL)
Stuart, Florida, December 26, 2025 (GLOBE NEWSWIRE) — MILFAM LLC, a significant shareholder of Scully Royalty Ltd. (NYSE: SRL), has announced its intention to proceed with the Annual General Meeting of Shareholders (the "Annual Meeting") as initially scheduled on December 27, 2025. This announcement comes after the Company disclosed on December 24, 2025, that its Board of Directors had decided to temporarily postpone the meeting.
Background on the Annual Meeting Situation
The Articles of Association of Scully Royalty Ltd. do not grant the Board the authority to postpone the Annual Meeting. As a result, MILFAM asserts that it will attend the meeting as planned and move forward with the election of directors. Current proxy data indicates that a quorum will be present, allowing the meeting to proceed effectively.
MILFAM is calling on the Company to conduct the meeting properly, maintain venue accessibility, and ensure that a representative is present to document the proceedings. The firm warns that any attempts to obstruct the meeting would constitute a serious breach of duty by the Board.
MILFAM's Shareholder Control and Voting Power
MILFAM currently controls over 58% of the outstanding shares of Scully Royalty Ltd., giving them considerable power in determining the outcome of the Board elections. This majority position enables MILFAM to put forward its candidates for Board positions and to oppose the re-election of the current Board members.
In light of this situation, MILFAM is urging the Board to uphold its fiduciary responsibilities and respect the wishes of the majority of shareholders.
Investor Contact Information
For any inquiries, interested parties can contact:
- Sodali & Co
- 430 Park Avenue, 14th Floor
- New York, NY 10022
- Call Toll-Free in North America: (800) 662-5200
- Outside of North America Call Collect: (203) 658-9400
- Email: MILFAM@info.sodali.com
About MILFAM LLC
MILFAM LLC is a single-family office that manages the combined assets of the descendants of Lloyd I. Miller Jr. With its significant stake in Scully Royalty Ltd. (NYSE: SRL), the firm plays a crucial role in influencing corporate governance and strategic decisions within the Company.