Blackwells Backs Braemar's Self-Management Overhaul, Company Slams Activist Al Shams
BHR is trading near its 52-week low of $1.88 (15% above the low).
Summary
Braemar secured public support from shareholder Blackwells Capital for its transition to a self-managed REIT, a move that strengthens the board's hand in its proxy fight with activist Al Shams. Blackwells highlighted concrete progress: a $94.3M reduction in the advisory termination fee, a director search underway, and a pledge for over $25M in annual cost savings. The company also launched a sharp personal attack on Al Shams principal Wafic Said, citing his past associations with Jeffrey Epstein and controversial arms deals to question his motives. This follows the June 12 announcement of the advisory agreement termination and the recent $437.5M hotel sale closing. The endorsement and counterattack could sway undecided shareholders ahead of the looming proxy vote.
At the time of this announcement, BHR was trading at $2.16 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $148.3M. The 52-week trading range was $1.88 to $3.19. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.