Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Barnwell Industries Reaches Agreement With MRMP Stockholders to End Potential Proxy Contest
Barnwell Industries, Inc.January 28, 2021 GMT
HONOLULU, Jan. 28, 2021 (GLOBE NEWSWIRE) Barnwell Industries, Inc. (NYSE-American: BRN) (“Barnwell” or the “Company”) is pleased to announce today that it has entered into a cooperation and support agreement with MRMP-Managers LLC, Ned L. Sherwood Revocable Trust, Ned L. Sherwood and Bradley M. Tirpak (collectively, the “MRMP Stockholders”), with respect to the potential proxy contest pertaining to the election of directors to our Board of Directors (the “Board”).
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Barnwell Industries, Inc. Reports Receipt of Notice of Nominations and Formation of Special .
Barnwell Industries, Inc.January 12, 2021 GMT
HONOLULU, Jan. 11, 2021 (GLOBE NEWSWIRE) Barnwell Industries, Inc. (NYSE American: BRN) (“Barnwell”, the “Company”) announced today that it has received notice of director nominations for election at the 2021 annual meeting of stockholders (the “2021 Annual Meeting”) from Ned L. Sherwood, Bradley M. Tirpak and MRMP-Managers LLC, who also jointly nominated directors for election at Barnwell’s 2020 annual meeting of stockholders.
Mr. Alexander C. Kinzler, Chief Executive Officer and President, commented, “In response to the receipt of notice, the Barnwell Board has created a special committee comprised of Peter J. O’Malley, chairman, Kenneth S. Grossman and Robert J. Inglima, Jr., each of whom is an independent director, for the p
Barnwell Industries, Inc. Reports Year-End and Fourth Quarter Results
HONOLULU, Dec. 11, 2020 (GLOBE NEWSWIRE) Barnwell Industries, Inc. (NYSE American: BRN) today reported a net loss of $4,756,000, $0.57 per share, for the year ended September 30, 2020, as compared to a net loss of $12,414,000, $1.50 per share, for the year ended September 30, 2019. For the quarter ended September 30, 2020, Barnwell reported net earnings of $628,000, $0.08 per share, as compared to a net loss of $4,324,000, $0.52 per share, for the quarter ended September 30, 2019.
Mr. Alexander Kinzler, Chief Executive Officer of Barnwell, commented, “We are pleased to report a profit in our fourth quarter ended September 30, 2020, which was brought about by positive operating margins in each of our oil and natural gas, contract drilling and land investment segments. In addition, general and administrative expenses decreased $118,000 as compared to the fourth quarter of fiscal 2019.