Scully Royalty Updates on Shareholders Meeting and Legal Proceedings
On December 24, 2025, Scully Royalty Ltd. (NYSE: SRL) issued a further update regarding its forthcoming annual general meeting and ongoing court proceedings. This announcement comes in the wake of a significant development wherein the company decided to appeal a recent decision made on December 19, 2025, by the Grand Court of the Cayman Islands. This decision involved the nomination notice submitted by MILFAM LLC and examined its adherence to the timing stipulations detailed in the company's Memorandum and Articles of Association.
In light of these developments, Scully Royalty Ltd. has also disclosed that its annual general meeting, initially set for December 27, 2025, will be temporarily postponed. The postponement is a strategic decision aimed at permitting a timely hearing before the Cayman Islands Court of Appeal regarding the appeal filed against the recent court ruling. Scully Royalty is proactively encouraging MILFAM to engage in collaborative and constructive dialogue during this period.
The board of directors of Scully Royalty, having received recommendations from its Compensation, Nominating and Corporate Governance Committee, made this decision after careful consideration of the implications for the company and its shareholders. The committee and the board cited several factors influencing the need for a postponement. These include the aim to mitigate the uncertainty stemming from the recent court decision and the associated appeal, as well as the necessity to provide shareholders with adequate time to review and assess the proposed nominations from MILFAM.
The ultimate goal of this cautious approach is to facilitate a more organized shareholders' meeting, ensuring that all parties are equipped to make informed decisions with complete transparency. This strategic move is also intended to foster an environment of open communication between the company and its shareholders, allowing for the thorough dissemination of material information pertinent to the nominations and the ongoing legal matters.
As the situation unfolds, Scully Royalty Ltd. remains committed to upholding the interests of its shareholders and ensures that they are kept informed every step of the way. The postponement, although temporary, is aimed at fostering clarity and reducing any ambiguity surrounding the meeting procedure, while still adhering to corporate governance standards. Scully Royalty looks forward to resolving these matters efficiently and resuming normal operations while maintaining high levels of shareholder engagement.
This update underscores Scully Royalty’s dedication to its corporate governance principles and its steadfastness in maintaining an open channel of communication with its investors. As the company navigates these legal complexities, it is poised to emerge stronger, with a more focused strategy that prioritizes effective shareholder relations and transparent operations going forward.
In light of these developments, Scully Royalty Ltd. has also disclosed that its annual general meeting, initially set for December 27, 2025, will be temporarily postponed. The postponement is a strategic decision aimed at permitting a timely hearing before the Cayman Islands Court of Appeal regarding the appeal filed against the recent court ruling. Scully Royalty is proactively encouraging MILFAM to engage in collaborative and constructive dialogue during this period.
The board of directors of Scully Royalty, having received recommendations from its Compensation, Nominating and Corporate Governance Committee, made this decision after careful consideration of the implications for the company and its shareholders. The committee and the board cited several factors influencing the need for a postponement. These include the aim to mitigate the uncertainty stemming from the recent court decision and the associated appeal, as well as the necessity to provide shareholders with adequate time to review and assess the proposed nominations from MILFAM.
The ultimate goal of this cautious approach is to facilitate a more organized shareholders' meeting, ensuring that all parties are equipped to make informed decisions with complete transparency. This strategic move is also intended to foster an environment of open communication between the company and its shareholders, allowing for the thorough dissemination of material information pertinent to the nominations and the ongoing legal matters.
As the situation unfolds, Scully Royalty Ltd. remains committed to upholding the interests of its shareholders and ensures that they are kept informed every step of the way. The postponement, although temporary, is aimed at fostering clarity and reducing any ambiguity surrounding the meeting procedure, while still adhering to corporate governance standards. Scully Royalty looks forward to resolving these matters efficiently and resuming normal operations while maintaining high levels of shareholder engagement.
This update underscores Scully Royalty’s dedication to its corporate governance principles and its steadfastness in maintaining an open channel of communication with its investors. As the company navigates these legal complexities, it is poised to emerge stronger, with a more focused strategy that prioritizes effective shareholder relations and transparent operations going forward.
Topics Financial Services & Investing）
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