Highlights Mr. Bennett’s Expertise in Shareholder Value Extraction
Urges Shareholders to Vote FOR Blackwells’ Nominees and Proposals
“If
Blackwells calls out Mr. Bennett’s fictions.. (again..):
Mr. Bennett said Blackwells’ campaign “from the start has been defined by smear tactics and personal attacks.”Mr. Bennett has a pattern of smearing and suing shareholders who bring attention to his shady external advisory agreement with Ashford Inc. (or otherwise call out his unique skillsets), including the smear tactics and personal attacks against Blackwells in a series of articles published in a ‘newspaper’ he controls, in a manner we believe violates securities laws.Mr. Bennett labels the Blackwells nominees as “handpicked”. The Blackwells nominees are all independent, all highly qualified, all outraged at the governance of the Company and are all willing to step in and defend shareholders. Just a quick glance at the ever-increasing fee stream paid to Ashford Inc. will enlighten even the most uninformed shareholder as to whyMr. Bennett is fighting desperately to keep skilled, independent directors out of his boardroom.Mr. Bennett claims that Blackwells’ intention is “taking over the Braemar Board of Directors without paying a control premium”. EitherMr. Bennett does not understand how proxy contests work, or he is deliberately misleading shareholders. We believe it is the latter. Blackwells wants independent directors to examine the shady ‘Advisory Agreement’ and understand howMr. Bennett has increased his fee stream by 600% while shareholders have suffered a 90% decline in share price. The current Board members are clearly not interested in figuring that magic trick out.Mr. Bennett said that Blackwells has a “history of running misguided, unsuccessful efforts.” Blackwells has created tens of billions of dollars in value for fellow shareholders in its public campaigns, whileMr. Bennett has turned every REIT he has ever gotten his fingers on into illiquid, mismanaged and debt-ridden disasters.
Blackwells urges all Braemar shareholders to vote their proxy on the WHITE universal proxy card “FOR” each of the Blackwells nominees and the Blackwells proposals. Blackwells recommends shareholders vote “AGAINST” Braemar’s executive compensation resolution.
If you have any questions about voting your proxy or need replacement proxy materials, contact:
+1 (800) 322-2885 (toll free for shareholders)
proxy@mackenziepartners.com
Blackwells also encourages shareholders to review Blackwells’ materials, the details of its engagement with the Company, information about Blackwells’ nominees, and other important information at www.NoMoreMonty.com. Shareholders are also invited to follow Blackwells’ campaign on X at @nomoremonty and Instagram at @no_more_monty.
About
Blackwells is a multi-strategy alternative asset management firm that invests in public and private markets globally. Our public markets portfolio focuses on currencies, equities, credit and commodities. When necessary, we engage with public company boards to drive value for all stakeholders. Our private markets portfolio includes investments in space, clean energy, infrastructure, real estate and technology. Further information is available at www.blackwellscap.com.
Contacts
Stockholders
Toll Free: +1 (800) 322-2885
proxy@mackenziepartners.com
Media
646-569-5897
blackwells@gagnierfc.com
IMPORTANT ADDITIONAL INFORMATION
Blackwells,
ALL STOCKHOLDERS OF THE COMPANY ARE ADVISED TO READ THE DEFINITIVE PROXY STATEMENT, THE ACCOMPANYING WHITE UNIVERSAL PROXY CARD AND OTHER DOCUMENTS RELATED TO THE SOLICITATION OF PROXIES BY THE PARTICIPANTS, AS THEY CONTAIN IMPORTANT INFORMATION, INCLUDING ADDITIONAL INFORMATION RELATED TO THE PARTICIPANTS AND THEIR DIRECT OR INDIRECT INTERESTS IN THE COMPANY, BY SECURITY HOLDINGS OR OTHERWISE.
The definitive proxy statement and an accompanying WHITE universal proxy card will be furnished to some or all of the Company’s stockholders and are, along with other relevant documents, available at no charge on the SEC’s website at http://www.sec.gov/. In addition, the Participants will provide copies of the definitive proxy statement without charge, upon request. Requests for copies should be directed to Blackwells.
The Company’s board of directors has purported to reject as invalid our nominations to elect each of Blackwells’ nominees and determined that our notice is purportedly non-compliant with the Company’s Fifth Amended and Restated Bylaws, as amended (the “Bylaws”) and defective. On
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