Blackwells Capital Releases Presentation and Announces Website Exposing AR Global’s Value Destructive Management of Global Net Lease Inc. and The Necessity Retail REIT Inc.
Blackwells Capital has released a presentation for shareholders of Global Net Lease (GNL) and Necessity Retail REIT (RTL), highlighting concerns about the company's external manager, AR Global. The presentation claims that AR Global's mismanagement has led to losses of $838 million for GNL and RTL shareholders. Blackwells proposes to eliminate these management agreements and has outlined a plan to enhance shareholder value, including installing new directors and creating committees aimed at improving corporate governance. The initiative aims to address perceived undervaluation and management issues affecting GNL and RTL.
- Proposal to terminate management agreements with AR Global could potentially unlock significant shareholder value.
- Plan to install qualified directors aims to enhance corporate governance and oversight.
- Accusations of self-dealing and mismanagement by AR Global could undermine shareholder trust.
- Ongoing litigation and blocking of shareholder director nominations may increase costs and complicate corporate governance.
Visit StopARGlobal.com for Additional Information Regarding the Need for Immediate Change at GNL and RTL
Shareholders are invited to visit https://stoparglobal.com/presentation-part-1/ to download the presentation.
Highlights of the presentation include:
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The endless cycle of self-dealing and embezzlement by AR Global and its other managed entities to the cost of
for GNL and RTL shareholders$838 million
- An outline of how AR Global’s management agreements are permission slips to steal money and the immediate upside for GNL and RTL shareholders that Blackwells see in terminating these agreements
- The facts in response to AR Global’s improper blocking of shareholders from making director nominations at upcoming 2023 annual meetings and the unnecessary costs of litigation to shareholders
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Blackwells’ plan to unlock shareholder value by pursuing a declaratory judgment in the
Maryland Court to resolve and terminate this controversy; installing highly qualified director candidates – Richard L. O’Toole andJim Lozier ; creating a Strategic Review Committee to terminate all relationships with AR Global; appointing and empowering aShareholder Rights Committee andStrategic Asset Review Committee to replace CEO Nelson; and, repealing the existing poison pill and other anti-takeover, anti-shareholder measures
“The public market’s undervaluation of each company is the direct result of both the uneconomic terms of each companies’ external management agreement with AR Global, as well as AR Global’s terrible performance as an external manager. Our value maximization plan will unshackle GNL and RTL from AR Global, commit both companies to shareholder-friendly corporate governance, and conduct appropriate strategic reviews,” continued
About
IMPORTANT ADDITIONAL INFORMATION
BLACKWELLS STRONGLY ADVISES ALL STOCKHOLDERS OF RTL TO READ THE DEFINITIVE PROXY STATEMENT, THE ACCOMPANYING WHITE UNIVERSAL PROXY CARD AND OTHER DOCUMENTS RELATED TO THE SOLICITATION OF PROXIES BY THE RTL PARTICIPANTS WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION, INCLUDING ADDITIONAL INFORMATION RELATED TO THE RTL PARTICIPANTS AND THEIR DIRECT OR INDIRECT INTERESTS, BY SECURITY HOLDINGS OR OTHERWISE.
The definitive proxy statement and an accompanying WHITE universal proxy card will be furnished to some or all of RTL’s stockholders and will be, along with other relevant documents, available at no charge on the SEC’s website at http://www.sec.gov/. In addition, the RTL Participants will provide copies of the proxy statement without charge, when available, upon request. Requests for copies should be directed to
Certain Information Regarding the GNL Participants
In accordance with Rule 14a-12(a)(1)(i) under the Securities Exchange Act of 1934, as amended, the participants in the proxy solicitation of GNL’s stockholders are:
Certain Information Regarding the RTL Participants
In accordance with Rule 14a-12(a)(1)(i) under the Securities Exchange Act of 1934, as amended, the participants in the proxy solicitation of RTL’s stockholders are:
Disclaimer
This material does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in any state to any person. In addition, the discussions and opinions in this press release are for general information only, and are not intended to provide investment advice. All statements contained in this press release that are not clearly historical in nature or that necessarily depend on future events are “forward-looking statements,” which are not guarantees of future performance or results, and the words “anticipate,” “believe,” “expect,” “potential,” “could,” “opportunity,” “estimate,” and similar expressions are generally intended to identify forward-looking statements. The projected results and statements contained in this press release that are not historical facts are based on current expectations, speak only as of the date of this press release and involve risks that may cause the actual results to be materially different. Certain information included in this material is based on data obtained from sources considered to be reliable. No representation is made with respect to the accuracy or completeness of such data, and any analyses provided to assist the recipient of this presentation in evaluating the matters described herein may be based on subjective assessments and assumptions and may use one among alternative methodologies that produce different results. Accordingly, any analyses should also not be viewed as factual and also should not be relied upon as an accurate prediction of future results. All figures are unaudited estimates and subject to revision without notice. Blackwells disclaims any obligation to update the information herein and reserves the right to change any of its opinions expressed herein at any time as it deems appropriate. Past performance is not indicative of future results.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230222006051/en/
646-569-5897
blackwells@gagnierfc.com
973-580-6548
blackwells@longacresquare.com
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