Pembroke, Bermuda – September 11, 2026 -- Al Shams Investments Limited, the largest shareholder of Braemar Hotels & Resorts Inc. (NYSE: BHR), said it will nominate a full slate of five independent directors sufficient to take control of the hotel REIT's board.
Braemar set a September 14 nomination deadline days after announcing its annual meeting
Braemar disclosed the date of its 2026 Annual Meeting on September 4, attaching a shareholder director-nomination deadline of September 14 and making the announcement immediately ahead of a long holiday weekend. Al Shams called the compressed window part of a pattern of governance practices it has criticized in prior letters to shareholders.
Al Shams holds 6,513,000 shares and says it will file nominations within the required timeframe
Al Shams and fellow participant Wafic Rida Said are deemed to beneficially own 6,513,000 shares of Braemar common stock, par value $0.01, held directly by Al Shams, according to a Schedule 13D amendment filed with the SEC on July 23, 2026. The investor said its nominations will be submitted in full compliance with applicable SEC requirements and intends to file a definitive proxy statement and accompanying white universal proxy card to solicit shareholder votes ahead of the annual meeting.
Investor cites concerns over Braemar's external management structure
Al Shams said shareholders are entitled to a genuine choice in the boardroom given what it described as longstanding concerns over Braemar's governance and alignment between management and shareholders. The firm said it will shortly present its five nominees, who it said would work to safeguard shareholder interests if elected.