Scully Royalty Ltd. Rejects MILFAM's Board Nominations, Upholds Shareholder Rights

Written by Emily J. Thompson, Senior Investment Analyst

SRL.N+0.32%

Source: Newsfilter

Updated: 1 hour ago

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Source: Newsfilter

Board Nomination Controversy: Scully Royalty received MILFAM's notice to nominate five directors on December 8, 2025, but deemed the nominations invalid due to non-compliance with the company's established procedures, highlighting the company's commitment to shareholder rights.
Legal Challenge: MILFAM subsequently filed an application with the Cayman Islands Grand Court to declare its nominations valid, which Scully Royalty is contesting, indicating the company's readiness to use legal avenues to protect its governance structure.
Shareholder Voting Guidance: The company encourages shareholders to review its proxy statement dated November 28, 2025, and to support management nominees, ensuring that shareholder voting rights remain intact and emphasizing the company's commitment to transparency and shareholder engagement.
Meeting Arrangement: The annual meeting is scheduled for December 27, 2025, with Scully Royalty stating that only management-nominated candidates will be considered, ensuring a smooth meeting process and minimizing unnecessary confusion.

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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.

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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.