BRAEMAR TO EXPAND BOARD OF DIRECTORS
Braemar Hotels & Resorts (NYSE: BHR), a luxury hotels and resorts REIT, has announced the appointment of Bob Ghassemieh to its Board of Directors. This appointment comes as part of a cooperation agreement with the Ghassemieh Group, which owns approximately 7.3% of BHR's outstanding common stock.
The agreement includes provisions for standstill and voting arrangements, with complete details to be filed in a Form 8-K with the SEC. White & Case LLP is serving as legal counsel to Braemar, while Olshan Frome Wolosky LLP represents the Ghassemieh Group.
Braemar Hotels & Resorts (NYSE: BHR), un REIT di hotel e resort di lusso, ha annunciato la nomina di Bob Ghassemieh nel suo Consiglio di Amministrazione. La nomina rientra in un accordo di collaborazione con il Ghassemieh Group, che detiene circa il 7,3% del capitale sociale ordinario in circolazione di BHR.
L'accordo prevede clausole di standstill e disposizioni sul voto; i dettagli completi saranno inclusi in un modulo Form 8-K depositato presso la SEC. White & Case LLP assiste Braemar come consulente legale, mentre Olshan Frome Wolosky LLP rappresenta il Ghassemieh Group.
Braemar Hotels & Resorts (NYSE: BHR), un REIT de hoteles y resorts de lujo, ha anunciado el nombramiento de Bob Ghassemieh en su Junta Directiva. Este nombramiento forma parte de un acuerdo de cooperación con el Ghassemieh Group, que posee aproximadamente el 7,3% del capital social ordinario en circulación de BHR.
El acuerdo incluye cláusulas de standstill y disposiciones sobre votación; los detalles completos se presentarán en un Formulario 8-K ante la SEC. White & Case LLP actúa como asesor legal de Braemar, y Olshan Frome Wolosky LLP representa al Ghassemieh Group.
Braemar Hotels & Resorts (NYSE: BHR), 고급 호텔 및 리조트 REIT가 이사회의 일원으로 Bob Ghassemieh를 선임했다고 발표했습니다. 이번 선임은 약 BHR 발행 보통주 중 7.3%를 보유한 Ghassemieh Group과의 협력 계약의 일환입니다.
해당 계약에는 스탠드스틸(주식매수·처분 제한) 및 의결권 관련 조항이 포함되며, 세부 내용은 SEC에 제출되는 Form 8-K에 기재될 예정입니다. White & Case LLP는 Braemar의 법률 고문을, Olshan Frome Wolosky LLP는 Ghassemieh Group을 대리합니다.
Braemar Hotels & Resorts (NYSE: BHR), un REIT de hôtels et resorts de luxe, a annoncé la nomination de Bob Ghassemieh à son conseil d'administration. Cette nomination s'inscrit dans le cadre d'un accord de coopération avec le Ghassemieh Group, détenteur d'environ 7,3 % des actions ordinaires en circulation de BHR.
L'accord prévoit des clauses de standstill et des modalités de vote ; les détails complets seront déposés dans un formulaire 8-K auprès de la SEC. White & Case LLP conseille Braemar en tant que conseil juridique, tandis qu'Olshan Frome Wolosky LLP représente le Ghassemieh Group.
Braemar Hotels & Resorts (NYSE: BHR), ein REIT für Luxus-Hotels und -Resorts, hat die Ernennung von Bob Ghassemieh in seinen Verwaltungsrat bekannt gegeben. Diese Ernennung erfolgt im Rahmen einer Kooperationsvereinbarung mit der Ghassemieh Group, die rund 7,3 % der ausstehenden Stammaktien von BHR hält.
Die Vereinbarung enthält Regelungen zu Standstill- und Abstimmungsvereinbarungen; vollständige Details werden in einem Form 8-K bei der SEC eingereicht. White & Case LLP fungiert als Rechtsberater von Braemar, während Olshan Frome Wolosky LLP die Ghassemieh Group vertritt.
- Strategic addition of major stakeholder (7.3% ownership) to the Board of Directors
- Successful negotiation of cooperation agreement with significant shareholder group
- Agreement includes standstill provisions, protecting company stability
- None.
Braemar and Ghassemieh Group enter into Cooperation Agreement
"We're pleased to have come to a productive agreement with the Ghassemieh Group and look forward to our continued collaboration," said Monty Bennett, Chairman of Braemar. "We believe this outcome supports the best interests of Braemar and all our stakeholders."
Pursuant to the Agreement, the Ghassemieh Group has agreed to certain standstill, voting and other provisions. Additional information will be filed in a Form 8-K with the Securities and Exchange Commission.
White & Case LLP is serving as legal counsel to Braemar. Olshan Frome Wolosky LLP is serving as legal counsel to the Ghassemieh Group.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, among others, statements about the Company's strategy and future plans. These forward-looking statements are subject to risks and uncertainties. When we use the words "will likely result," "may," "anticipate," "estimate," "should," "expect," "believe," "intend," or similar expressions, we intend to identify forward-looking statements. Such statements are subject to numerous assumptions and uncertainties, many of which are outside Braemar's control.
These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation: our ability to repay, refinance or restructure our debt and the debt of certain of our subsidiaries; anticipated or expected purchases or sales of assets; our projected operating results; completion of any pending transactions; risks associated with our ability to effectuate our dividend policy, including factors such as operating results and the economic outlook influencing our board's decision whether to pay further dividends at levels previously disclosed or to use available cash to pay dividends; our understanding of our competition; market trends; projected capital expenditures; the impact of technology on our operations and business; general volatility of the capital markets and the market price of our common stock and preferred stock; availability, terms and deployment of capital; availability of qualified personnel; changes in our industry and the markets in which we operate, interest rates or the general economy; and the degree and nature of our competition. These and other risk factors are more fully discussed in Braemar's filings with the Securities and Exchange Commission.
The forward-looking statements included in this press release are only made as of the date of this press release. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision concerning our securities. Investors should not place undue reliance on these forward-looking statements. The Company can give no assurance that these forward-looking statements will be attained or that any deviation will not occur. We are not obligated to publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations, or otherwise, except to the extent required by law.
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SOURCE Braemar Hotels & Resorts Inc.
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