Special Opportunities Fund Seeks to Elect Directors of Tejon Ranch Co.
Special Opportunities Fund (NYSE: SPE) has announced its intention to solicit proxies for electing three independent directors to Tejon Ranch Co. (NYSE: TRC) at the upcoming annual shareholder meeting on May 13, 2025.
The Fund, as one of TRC's largest shareholders, expressed concerns about Tejon's long-term performance, with Chairman Phillip Goldstein noting that investors from forty years ago have seen virtually no returns, while those from twenty years ago have lost approximately 70% of their investment.
The Fund's nominees plan to focus on four key areas if elected:
- Capital allocation
- Executive compensation
- Communication and transparency
- Excessive expenses
Special Opportunities Fund (NYSE: SPE) ha annunciato la sua intenzione di richiedere deleghe per l'elezione di tre direttori indipendenti per Tejon Ranch Co. (NYSE: TRC) in occasione dell'imminente assemblea annuale degli azionisti del 13 maggio 2025.
Il Fondo, essendo uno dei maggiori azionisti di TRC, ha espresso preoccupazioni riguardo alle performance a lungo termine di Tejon, con il presidente Phillip Goldstein che ha sottolineato come gli investitori di quarant'anni fa non abbiano praticamente ottenuto ritorni, mentre quelli di vent'anni fa abbiano perso circa il 70% del loro investimento.
I candidati del Fondo intendono concentrarsi su quattro aree chiave se eletti:
- Allocazione del capitale
- Compensazione degli esecutivi
- Comunicazione e trasparenza
- Spese eccessive
Special Opportunities Fund (NYSE: SPE) ha anunciado su intención de solicitar poderes para elegir a tres directores independientes para Tejon Ranch Co. (NYSE: TRC) en la próxima reunión anual de accionistas el 13 de mayo de 2025.
El Fondo, como uno de los mayores accionistas de TRC, expresó su preocupación por el rendimiento a largo plazo de Tejon, con el presidente Phillip Goldstein señalando que los inversores de hace cuarenta años prácticamente no han obtenido retornos, mientras que los de hace veinte años han perdido aproximadamente el 70% de su inversión.
Los nominados del Fondo planean centrarse en cuatro áreas clave si son elegidos:
- Asignación de capital
- Compensación ejecutiva
- Comunicación y transparencia
- Gastos excesivos
Special Opportunities Fund (NYSE: SPE)는 2025년 5월 13일에 열리는 연례 주주 총회에서 Tejon Ranch Co. (NYSE: TRC)의 독립 이사 3명을 선출하기 위해 위임장을 요청할 계획이라고 발표했습니다.
펀드는 TRC의 주요 주주 중 하나로서 Tejon의 장기 성과에 대한 우려를 표명했으며, 회장인 Phillip Goldstein은 40년 전 투자자들이 사실상 수익을 보지 못했으며, 20년 전 투자자들은 약 70%의 투자 손실을 입었다고 언급했습니다.
펀드의 후보자들은 선출될 경우 네 가지 주요 분야에 집중할 계획입니다:
- 자본 배분
- 경영진 보상
- 소통 및 투명성
- 과도한 지출
Special Opportunities Fund (NYSE: SPE) a annoncé son intention de solliciter des procurations pour élire trois administrateurs indépendants pour Tejon Ranch Co. (NYSE: TRC) lors de la prochaine assemblée générale des actionnaires le 13 mai 2025.
Le Fonds, en tant que l'un des plus grands actionnaires de TRC, a exprimé des inquiétudes concernant la performance à long terme de Tejon, le président Phillip Goldstein notant que les investisseurs d'il y a quarante ans n'ont pratiquement obtenu aucun retour, tandis que ceux d'il y a vingt ans ont perdu environ 70 % de leur investissement.
Les candidats du Fonds prévoient de se concentrer sur quatre domaines clés s'ils sont élus :
- Allocation du capital
- Rémunération des dirigeants
- Communication et transparence
- Dépenses excessives
Special Opportunities Fund (NYSE: SPE) hat seine Absicht bekannt gegeben, Stimmrechte zur Wahl von drei unabhängigen Direktoren für Tejon Ranch Co. (NYSE: TRC) bei der bevorstehenden Jahreshauptversammlung der Aktionäre am 13. Mai 2025 einzuholen.
Der Fonds, einer der größten Aktionäre von TRC, äußerte Bedenken hinsichtlich der langfristigen Leistung von Tejon, wobei der Vorsitzende Phillip Goldstein darauf hinwies, dass Investoren vor vierzig Jahren praktisch keine Renditen gesehen haben, während diejenigen von vor zwanzig Jahren etwa 70 % ihres Investments verloren haben.
Die Kandidaten des Fonds planen, sich im Falle ihrer Wahl auf vier zentrale Bereiche zu konzentrieren:
- Kapitalallokation
- Vergütung der Führungskräfte
- Kommunikation und Transparenz
- Übermäßige Ausgaben
- None.
- None.
SADDLE BROOK, N.J., April 10, 2025 (GLOBE NEWSWIRE) -- Special Opportunities Fund, Inc., (SPE or the “Fund”) (NYSE: SPE), one of the largest shareholders of Tejon Ranch Co., (TRC or “Tejon”) (NYSE: TRC), announced that it is soliciting proxies to elect three independent directors of Tejon at its annual meeting of shareholders on May 13, 2025.
Phillip Goldstein, Chairman of the Fund and a Managing Partner of Bulldog Investors, LLP (“Bulldog”), the Fund’s investment advisor, stated: “Investors that purchased shares of Tejon forty years ago have had virtually no return on their investment. Investors that purchased shares of Tejon twenty years ago have lost about
Andrew Dakos, President of the Fund and a Managing Partner of Bulldog, stated: “We believe that Tejon’s stock price does not reflect the value of its assets and that Tejon’s incumbent directors have been far too complacent in taking action to remedy that disparity. If elected, our nominees intend to focus their attention on four areas: capital allocation, executive compensation, communication and transparency, and excessive expenses. Our sole objective is to advocate for measures that we believe will result in a significantly higher price for Tejon’s shares.”
For information, please contact: Thomas Antonucci, Bulldog Investors LLP (1-201-566-0092)
FAQ
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