Blackwells Campaign Successfully Forces Ashford Hospitality Trust, Inc.’s Chairman Monty J. Bennett and Director Kamal Jafarnia to Resign
NEW YORK, May 15, 2024 (GLOBE NEWSWIRE) -- Blackwells Capital, an owner of 1,000 shares of Ashford Hospitality Trust, Inc. (“Ashford” or the “Company”) (NYSE: AHT), announced today that directors Monty J. Bennett and Kamal Jafarnia failed to receive the requisite number of votes required for re-election to the Company’s Board of Directors (the “Board”) at the Company’s 2024 annual meeting of stockholders (the “2024 Annual Meeting”) and were forced to tender their resignations. The Company’s remaining nominees were narrowly re-elected by disturbingly low numbers.
- The Company’s remaining nominees were narrowly re-elected by disturbingly low numbers.
- Blackwells achieved this result despite the Company’s refusal to produce a stockholder list, and with just one mailing to stockholders.
- Jason Aintabi, Chief Investment Officer of Blackwells Capital LLC, said:
“The voting results are a conclusive indictment of the Board’s failure to act in the best interests of stockholders. - The Board’s reappointment of Monty Bennett and Kamal Jafarnia to the Board within hours of being voted out is a shameless maneuver and demonstrates the utter contempt Monty Bennett’s Board has for the Company’s stockholders.