Al Shams Fires Back at Braemar, Denies Allegations and Points to Upcoming Depositions
BHR is trading near its 52-week low of $1.88 (12% above the low) on light trading volume (0.1× avg).
Summary
Al Shams Investments, Braemar's largest shareholder, publicly rebutted what it calls 'baseless personal attacks' by Chairman Monty Bennett, denying allegations of ties to Jeffrey Epstein and arms dealing. The statement, from ultimate beneficial owner Wafic Rida Saïd, frames the dispute as a distraction from a $480 million termination fee paid to a Bennett-controlled entity after hotel sales. This follows months of escalating proxy fight filings, including a legal petition to investigate potential wrongdoing. The mention of upcoming depositions of former Braemar directors signals the conflict is moving into a more serious legal phase, which could unearth damaging facts or force a settlement. With shares down from $20 to around $2 since 2013, the outcome of this governance battle is critical for minority shareholders.
At the time of this announcement, BHR was trading at $2.10 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $144.4M. The 52-week trading range was $1.88 to $3.19. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: PR Newswire.