Barnwell Industries (BRN) announced that the Delaware Court of Chancery has ruled in favor of Barnwell and its Board of Directors in determining that the director nomination notice submitted by Ned Sherwood and certain of his affiliates in connection with the company’s 2025 Annual Meeting of Stockholders was deficient and did not comply with the company’s bylaws. As a result, the company will disqualify the Sherwood Group’s nominees from standing for election at the 2025 Annual Meeting, which will be held as an uncontested election on its currently scheduled date of May 29. Barnwell separately announced that Alexander Kinzler, 9.8% stockholder of the company, has informed the Board that, in light of the results of the recent consent solicitation by the Sherwood Group, he has voluntarily determined not to stand for election at the 2025 Annual Meeting.
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