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Owens Realty Mortgage Stacks the Board and Deprives Shareholders of Their Vote, According to Hovde Capital

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Hovde Capital calls for a Stop to the Governance Abuses of ORM through management’s use of stall tactics to prevent shareholders from exercising their right to vote. Hovde Capital Advisors issued the following statement: At the Owens Realty Mortgage, Inc. (NYSEAM: ORM) annual meeting of shareholders held on Monday July 16, 2018, the Company announced two unnamed directors would be appointed to the Company’s board, bypassing shareholders’ most basic right of having the ability to elect their directors. ORM’s board has now added three new directors in the midst of a proxy contest, an unheard-of practice. Further ...

Mentions: Management Annual Meeting ISS