Business
Barnwell Shareholders Adjourn 2025 Annual Meeting Due to Ned Sherwood's Refusal to Submit Votes Solicited from Shareholders
Barnwell Industries, Inc. (NYSE American: BRN) ("Barnwell" or the "Company") today announced that its 2025 Annual Meeting of Shareholders, held yesterday, Thursday, May 29, 2025, has been adjourned to Monday, June 2, 2025.
About this update from Barnwell Industries, Inc.
[{"type":"text","content":"HONOLULU, May 30, 2025 /PRNewswire/ -- Barnwell Industries, Inc. (NYSE American: BRN) ("Barnwell" or the "Company") today announced that its 2025 Annual Meeting of Shareholders, held yesterday, Thursday, May 29, 2025, has been adjourned to Monday, June 2, 2025.","length":281,"tagName":"p"},{"type":"image","alt":"Barnwell Industries, Inc. Logo (PRNewsfoto/Barnwell Industries, Inc.)","displaySize":"","headline":null,"caption":"Barnwell Industries, Inc. Logo (PRNewsfoto/Barnwell Industries, Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":299,"url":"https://media.zenfs.com/en/prnewswire.com/36ba71b7108766e191dafc860d4b7331"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/PgYkMc89.0aTOPv8RtAtiA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTUyNztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/36ba71b7108766e191dafc860d4b7331","width":400,"height":299}},"href":"https://mma.prnewswire.com/media/2689871/Barnwell_Industries_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The adjournment was necessitated by the deliberate refusal of Ned Sherwood and his affiliates (collectively, the "Sherwood Group") to vote the proxies they actively and aggressively solicited from Barnwell shareholders. Mr. Sherwood's actions directly contradict his own public statement issued just last week, in which he asserted: "We respect and support the will of the shareholders…we will continue our solicitation on the GREEN card." In reality, Sherwood's failure to submit the solicited votes deliberately disenfranchised shareholders and needlessly obstructed the election of directors.","length":623,"tagName":"p"},{"type":"text","content":"Contrary to Mr. Sherwood's claim that he is acting in the best interests of all shareholders, his conduct has forced the Company to incur significant and unnecessary expense. Sherwood's failure to deliver the proxies he solicited – conduct the Company believes may constitute violations of federal securities laws, including the anti-fraud provisions of the Securities Exchange Act of 1934 and the rules and regulations promulgated thereunder, which prohibit false or misleading statements in connection with the solicitation of proxies – prevented the Company from reaching a quorum at the Annual Meeting for the firs...