Blackwells Capital LLC and Blackwells Onshore I LLC collectively own 1,000 shares of Ashford Hospitality Trust, Inc. and have filed a definitive proxy statement with the U.S. Securities and Exchange Commission in connection with its campaign urging stockholders to vote “AGAINST” the election of Monty J. Bennett, Amish Gupta, J. Robison Hays, III, Kamal Jafarnia, David W. Johnson, Frederick J. Kleisner, Sheri L. Pantermuehl, Davinder “Sonny” Sra and Alan L. Tallis to the company’s Board of Directors at the Company’s 2024 annual meeting of stockholders, which is scheduled to be held on May 14, 2024.
Jason Aintabi, chief investment officer of Blackwells Capital LLC, said, “It is clear to us that Ashford stockholders have suffered from a disastrous stock price performance, abysmal corporate governance, and what appears to be a self-dealing external advisory agreement that makes Montgomery Bennett rich at the expense of stockholders. The Board must be held to account for its failure to act as independent fiduciaries. In our opinion, the Board, at best, lacks the necessary skills and acumen and, at worst, could face personal liability for rubber-stamping Mr. Bennett’s unchecked parade on Ashford’s coffers. Stockholders have an opportunity to send a clear and resounding message to the Board by voting “AGAINST” the election of the incumbent directors at the 2024 Annual Meeting.”
Institutional Shareholder Services recommended that Ashford stockholders vote “AGAINST” all incumbent director nominees at the 2024 Annual Meeting. ISS is a leading independent proxy advisory firm which, among other services, provides proxy voting recommendations to pension funds, investment managers, mutual funds, and other institutional shareholders. Its voting analyses and recommendations are relied upon by thousands of major institutional investment firms, mutual funds, and fiduciaries throughout the world.
