Milfam LLC wins board control at Scully Royalty (SRL)
Market Cap: $84 million | Scully Royalty Ltd. operates as an iron ore mining company in the Americas, Africa, Canada, Asia, and Europe.
On December 11, 2023, Neil S. Subin (12.4%) stated that he has recently taken an activist investment stance by nominating four director candidates for the upcoming AGM on December 29, 2023. Source
On November 26, 2025, Neil S. Subin, Milfam LLC (13.4%) notified the company that he will nominate Jerrod Freund, Mark Holliday, Alan Howe, Nimesh Patel, and Skyler Wichers for election to the board at the December 27, 2025 annual meeting and will solicit proxies to support their election. Source
On December 7, 2025, Neil S. Subin, Milfam LLC sent a letter to the shareholders regarding the Annual Meeting and the notice provided by Milfam to the company regarding the nomination of each of Jerrod Freund, Mark Holliday, Alan Howe, Nimesh Patel, and Skyler Wichers to the board of directors of the company.
On December 29, 2025, Milfam LLC announced that all five of its nominees were elected to the Scully Royalty Ltd. board at the Dec 27, 2025 AGM, replacing company nominees after securing majority support despite an attempted meeting postponement.
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