Scully Royalty ends higher after MILFAM seeks board overhaul

Scully Royalty

28/11/2025 18:26

** Shares of iron ore royalty company Scully Royalty SRL.N closed up 20% at $6.73

** Family investment firm MILFAM late Wednesday unveiled plans to seek a board overhaul at SRL

** MILFAM plans to nominate five directors to SRL's board at December 27 annual general meeting, according to the SEC filing

** It is nominating Jerrod Freund, Mark Holliday, Alan Howe, Nimesh Patel, and Skyler Wichers for election to SRL board

** Also engaging in preliminary discussions with other shareholders of SRL regarding its proposal to remove existing board members

** MILFAM holds 13.2% stake in SRL, making it the third-biggest shareholder, according to data compiled by LSEG

** As of last close, SRL down 27.3% YTD

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com))