- Barnwell Industries (BRN, Financial) has adjourned its 2025 Annual Meeting for the third time due to a quorum issue.
- The adjourned meeting is now scheduled for September 3, 2025, with a new record date of July 21, 2025.
- Shareholders are urged to use the WHITE proxy card to vote for the company's nominees.
Barnwell Industries, Inc. (BRN) has announced a third adjournment of its 2025 Annual Meeting of Shareholders, now rescheduled for September 3, 2025. The adjournment comes as a result of Ned Sherwood's continued refusal to submit proxies solicited from shareholders, which has prevented the company from achieving a necessary quorum to proceed with the meeting.
To address this issue, Barnwell has set a new record date of July 21, 2025, for shareholders eligible to vote at the forthcoming meeting. The company is actively encouraging shareholders to vote using the WHITE proxy card in support of its director nominees Kenneth S. Grossman, Joshua S. Horowitz, Craig D. Hopkins, and Philip J. McPherson.
Vice Chairman Kenneth Grossman has expressed optimism about Barnwell's future growth potential but highlighted the obstructionist actions by the Sherwood Group as a barrier to concluding the annual meeting process. The ongoing proxy battle is diverting valuable resources that could otherwise benefit Barnwell's operations and shareholder value.
The company remains focused on resolving the situation and conducting the annual meeting in an orderly manner, emphasizing that despite the adjournment, the meeting will remain uncontested, and the nomination window for director elections will not be reopened. Shareholders are reminded that it is not too late to vote, and any shareholder who previously voted on the Sherwood Group’s green proxy card can change their vote to contribute to the quorum by voting on the WHITE proxy card.
