#USA #Honolulu #ISS #Barnwell Industries #Sherwood Group

Barnwell Industries Urges Shareholders to Act Against Takeover Attempt

Barnwell Industries, Inc. (NYSE American: BRN), a notable player in its industry, has recently made a significant appeal to its shareholders concerning the ongoing takeover attempt spearheaded by Ned Sherwood and his associated group. With a clear statement to its investors, the company emphasizes the importance of adhering to the advice from Institutional Shareholder Services Inc. (ISS), a reputable proxy advisory firm.

The crux of Barnwell's urging comes from ISS's report dated May 7, 2025, which notably recommended only one candidate, Heather Isidoro, from the slate introduced by Sherwood. Barnwell's Board of Directors expressed disappointment regarding ISS's recommendation to remove one of its own members, Alex Kinzler. However, they assert that supporting Isidoro's nomination while rejecting the removal of other board members would lead to a more stable and prudent governance structure.

The ISS report aligns with the critical consensus that replacing the entire Barnwell Board, as proposed by Sherwood's group, lacks a solid and credible plan for the company's future. Barnwell argued that such a move could be detrimental to the value they have built within the company. They maintain that a shareholder's vote should reflect the intention to safeguard their investment and reject the Sherwood Group's agenda.

The company has made it clear that it perceives the Sherwood Group's management plan as ineffective and unfounded. In their statement, Barnwell insisted that all votes in favor of the WHITE consent revocation card are paramount for maintaining the integrity of their governance. This is a pivotal moment for shareholders; Barnwell urges them to consider the ramifications of entrusting the future of their investments to a group that has not demonstrated a viable strategy.

Moreover, Barnwell's management team highlights their commitment to transparency and proper governance. They acknowledge the complexities of such disputes but insist on maintaining a focused approach that prioritizes the company's long-term strategy over individual agendas. Shareholders are encouraged to reach out to Barnwell's proxy solicitor, Okapi Partners, for further information regarding the voting process or to revoke any previously submitted consents that may favor the oppositional camp.

In conjunction with these statements, Barnwell aims to reassure shareholders that their voices matter, and their decisions compactly shape the future of the company. They recognize that the current situation poses challenges but also provides an opportunity for shareholders to reaffirm their faith in Barnwell's current leadership.

With the Corporation urging shareholders to be diligent and proactive in this matter, all eyes now turn to the votes that will ultimately determine the future course of Barnwell Industries. The assembly of shareholders will witness the potential for dynamic leadership realignment, one that could alter the company's trajectory depending on the outcomes of the upcoming votes.

In conclusion, Barnwell Industries stands at a critical juncture, urging all stakeholders to carefully consider the implications of the upcoming decision at hand. Their appeal is not just about resisting a takeover; it’s about protecting the collective interests of the shareholders and ensuring that the company remains on a path of sustainable growth and value creation.