Scully Royalty Ltd. Responds to MILFAM's Board Nomination Controversy
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 22 2025
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Source: Newsfilter
- Board Nomination Controversy: Scully Royalty opposes MILFAM's nomination of five directors, asserting that they failed to comply with the nomination timeline set forth in the company's Articles, potentially compromising the fairness of shareholder voting.
- Legal Challenge: Despite the Grand Court of the Cayman Islands ruling that MILFAM's notice was valid, the company intends to appeal to a higher court to uphold the integrity of its governance practices.
- Disclosure Omissions: The MILFAM circular fails to disclose critical relationships between nominee Alan Howe and MILFAM, which may mislead shareholders regarding the nominees' independence and affect their voting decisions.
- Shareholder Caution: The company urges shareholders to carefully review MILFAM's proxy materials, emphasizing that their actions could negatively impact the company's operations, including its regulated banking activities, and calls for support of management's nominees.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
