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News  ›  GlobeNewswire Inc.

MILFAM LLC ANNOUNCES INTENTION TO PROCEED WITH ANNUAL GENERAL MEETING OF SCULLY ROYALTY LTD.

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Milfam Llc
MILFAM LLC ANNOUNCES INTENTION TO PROCEED WITH ANNUAL GENERAL MEETING OF SCULLY ROYALTY LTD.

MILFAM LLC, a major shareholder of Scully Royalty Ltd., announced it will proceed with the scheduled Annual General Meeting on December 27, 2025, despite the Board's attempt to postpone it. MILFAM controls over 58% of outstanding shares and plans to elect its slate of director nominees and vote against current board members, citing the Board's lack of authority to postpone and its breach of fiduciary duties.

Insights
SRL   negative

The company faces significant governance conflict with its largest shareholder challenging the Board's authority and fiduciary duties. The Board's attempted postponement of the Annual Meeting and the resulting shareholder confrontation indicate internal corporate governance issues and potential instability in leadership.