Scully Royalty Ltd. Postpones AGM Amid MILFAM Nomination Dispute
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
0mins
Source: PRnewswire
- AGM Postponement: Scully Royalty Ltd. has postponed its annual general meeting to facilitate a hearing before the Cayman Islands Court of Appeal regarding the validity of MILFAM LLC's nominations, reflecting the company's commitment to shareholder governance.
- MILFAM's Invalid Actions: The company has informed MILFAM of the invalidity of its unilateral actions and reserves all rights against MILFAM and its proposed nominees, indicating a firm stance on governance structure integrity.
- Board Stability: The postponed AGM has not yet occurred, and the current board remains in place, ensuring stable leadership amidst uncertainty and preventing potential management chaos.
- Importance of Shareholder Communication: The company urges all shareholders to rely solely on official communications for updates regarding the postponement and rescheduling of the meeting, emphasizing the significance of transparency and consistency in corporate governance.
SRL
$7.295+Infinity%1D
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About SRL
Scully Royalty Ltd, formerly MFC Bancorp Ltd, is a company principally revenue from its royalty interest in iron ore mine. The Company operates its business through three segments. The Royalty segment mainly holds the royalty interest on iron ore shipped from the mine. The Industrial segment mainly operates projects in resources and services assets, such as hydro-electric power plant, globally. The Merchant Banking segment mainly engages in the provision of financial services and consultancy services for corporations and institutions. The Company’s all other segment mainly involves in committing its own capital to investment business.
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.
