| Small & micro cap project / Activism insight
Argues why a control slate is required
It is quite hard to convince ISS and other proxy advisors to vote for a “control slate.” So, what is a control slate? If activist investors are trying to control the majority board seat, it is referred to as “control slate.”
In early 2020, MRMP-Managers, LLC, Ned L. Sherwood, and Bradley M. Tirpak nominated five board candidates to the board of Barnwell Industries, a company with a market cap of $5 million.
Not only did the group win the support of ISS, it won shareholder support for three of its nominees. Now, the group controls three out of a total of five board seats.
Control slates are rare, and winning is even more difficult. This activist group has achieved this.
Since this is a nano-cap stock, not many are discussing this. These almost always go unnoticed.
It is worth reading the convincing arguments put up by the activist investors.
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