Barnwell Industries: A Battle for Control – Alex Kinzler Fights Back Against Ned Sherwood’s Consent Solicitation
In a recent turn of events at Barnwell Industries, Inc. (BRN), Executive Chairman, General Counsel, and Corporate Secretary, Alex Kinzler, has come forward to set the record straight regarding the ongoing power struggle between himself and Ned Sherwood. The correction came in response to Sherwood’s press release, where he made misleading statements about Kinzler’s role in the company and his attempt to seize control without offering a premium to Barnwell’s shareholders.
Alex Kinzler: A Pillar of Barnwell’s Defense
Contrary to Sherwood’s claims, Alex Kinzler is an integral part of Barnwell’s Executive Committee of the Board, working diligently to defend the company against Sherwood’s costly and distracting consent solicitation. Kinzler’s commitment to Barnwell and its shareholders is unwavering, and he urges them to ignore and discard any Blue Consent Solicitation Card they may receive from Sherwood.
A Closer Look at the Consent Solicitation
Sherwood’s consent solicitation aims to obtain consent from Barnwell shareholders to amend the Company’s bylaws, potentially allowing him to gain control of the Board without a premium being paid. However, Kinzler and the Barnwell team are adamant that this move would not be in the best interest of the shareholders. They argue that accepting such a proposal would undermine the value of their investment and potentially lead to further instability within the company.
Implications for Shareholders
For Barnwell shareholders, this battle for control could result in uncertainty and potential volatility in the stock price. Shareholders are encouraged to monitor company communications closely and consult with their financial advisors to make informed decisions regarding their investments. It is essential to remember that Barnwell’s management team, led by Alex Kinzler, is working diligently to protect the interests of the shareholders and preserve the value of their investment.
Global Impact
Beyond the immediate implications for Barnwell shareholders, this situation highlights the importance of transparency and clear communication in corporate governance. The ongoing struggle between Kinzler and Sherwood underscores the need for shareholders to be well-informed and vigilant when it comes to protecting their investments. Furthermore, it serves as a reminder that the actions of a single individual or group can significantly impact the financial landscape, both for the company in question and the broader market.
Conclusion: A Commitment to Shareholder Value
In summary, the ongoing battle between Alex Kinzler and Ned Sherwood at Barnwell Industries highlights the importance of transparency, clear communication, and a commitment to shareholder value. As a Barnwell shareholder, it is crucial to stay informed about company developments and consult with your financial advisors to make the best decisions regarding your investment. The outcome of this situation will not only impact Barnwell but could set a precedent for corporate governance and shareholder rights in the future.
- Barnwell Industries is embroiled in a power struggle between Alex Kinzler and Ned Sherwood.
- Kinzler, a member of Barnwell’s Executive Committee, urges shareholders to disregard any Blue Consent Solicitation Card from Sherwood.
- Sherwood aims to amend Barnwell’s bylaws without offering a premium to shareholders.
- The situation could result in uncertainty and potential volatility for Barnwell shareholders.
- Transparency and clear communication are essential in corporate governance, especially during periods of change.
