1. SRL postponed its annual general meeting for legal considerations. 2. Cayman Islands Court of Appeal will review nomination validity by MILFAM LLC. 3. Current board remains in place amid invalid unilateral actions by MILFAM. 4. SRL urges shareholders to rely on official communications regarding the meeting.
FAQ
Why Bearish?
The postponement of the annual meeting indicates internal conflicts, which may deter investors.
How important is it?
The article highlights an ongoing governance issue, crucial for shareholder confidence and stock stability.
Why Short Term?
Conflicts related to board nominations can lead to short-term volatility in SRL's stock price.
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NEW YORK, Dec. 29, 2025 /PRNewswire/ -- Scully Royalty Ltd. (the "Company") (NYSE:SRL) affirmed today that, further to its news release on December 24, 2025, the Company's board of directors postponed the annual general meeting (the "Meeting") of shareholders to allow a hearing before the Cayman Islands Court of Appeal as soon as reasonably practicable regarding the validity of the prior notice of direction nominations of MILFAM LLC ("MILFAM").
The Company is aware of MILFAM's press release stating that it intended to unilaterally proceed with the Meeting, and thereafter that its nominees would be the directors of the Company. The Company has informed MILFAM of the invalidity of its unilateral actions and that it reserves all rights against MILFAM and its proposed nominees and joint actors. The Company advises that the postponed Meeting has not yet occurred and that the current board of directors remains in place. The Company urges all shareholders to only rely on official communications from the Company, including regarding the postponement and official re-scheduling time and date of the Meeting.
View original content:https://www.prnewswire.com/news-releases/scully-royalty-corrects-record-regarding-postponed-annual-general-meeting-302650284.html
SOURCE Scully Royalty Ltd.