BRANCOUS LP1 CALLS ON BRAEMAR’S BOARD TO STOP ATTACKING SHAREHOLDERS, DISTRIBUTE EXCESS CASH AND RENEGOTIATE THE ASHFORD PAYMENT
Activist shareholder Brancous LP1 issued a statement criticizing Braemar's Board for pursuing a 'stealth liquidation' to trigger a $480 million change-of-control payment to Ashford rather than maximizing shareholder value. The letter claims the Board is selling over 30% of gross assets to pay a fee estimated at $7.00 per share, while holding $100 million in cash that should be returned to shareholders via a special dividend.
Key figures
- Cash on hand usd
- $100 million
- Gav sold percent
- 30%
- Annual savings usd
- $25 million
- Ashford payment usd
- $480 million
- Proposed dividend per share
- $1.00
- Estimated payment cost per share
- $7.00
AI analysis
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