Scully Royalty (SRL) Company Report

Analyst Coverage

Research analysts covering Scully Royalty.

Recent press releases and 8-K filings for SRL.

Scully Royalty Ltd. Board Terminates CEO and CFO

SRL

CEO Change

CFO Change

Board Change

The new Board of Directors of Scully Royalty Ltd. (SRL) has terminated Samuel Morrow from his positions as CEO, CFO, and President for cause, effective January 12, 2026.
This action followed Mr. Morrow's and the former board's refusal to acknowledge or take direction from the new board, which was elected on December 27, 2025, with the support of approximately 59% of outstanding shares.
The new board, led by Chairman Skyler Wichers, will assume day-to-day operations and has commenced a search for new officers.

Jan 14, 2026, 8:12 PM

Scully Royalty Ltd. Reports Half-Year Financials and Strategic Updates

SRL

Earnings

New Projects/Investments

Scully Royalty Ltd. reported a significant improvement in financial performance for the six months ended June 30, 2025, with a net loss attributable to owners of $(2.0) million compared to $(19.9) million in the same period of 2024, and EBITDA turning positive at $4.3 million from negative $12.2 million in the prior year. This improvement was largely due to the absence of an $18.6 million impairment loss recognized in the prior year.
The company is continuing its strategy to rationalize non-core assets, which represented approximately 20% of consolidated total assets as of June 30, 2025, although a previously announced agreement for their sale has not yet closed.
In December 2025, SRL determined to convert its Merchant Banking segment's regulated bank subsidiary into an unregulated entity, pending regulatory approval, to streamline costs and simplify its corporate structure.
Cash flows from operating activities turned positive, providing $4.0 million for the six months ended June 30, 2025, a substantial improvement from using $16.0 million in the same period of 2024.

Dec 31, 2025, 10:01 PM

Scully Royalty Provides Update on Annual General Meeting and Proxy Dispute

SRL

Legal Proceedings

Board Change

Takeover Bid

Scully Royalty Ltd. (SRL) is engaged in a proxy dispute with MILFAM LLC concerning the nomination of five individuals to SRL's board of directors for the annual general meeting scheduled for December 27, 2025.
SRL intends to appeal a Grand Court of the Cayman Islands order, issued on December 19, 2025, which declared MILFAM's notice of nomination valid, as SRL believes the decision is incorrect at law.
SRL alleges that MILFAM's proxy circular is materially misleading by omitting critical information regarding the significant past ties and relationships between a majority of MILFAM's nominees and the MILFAM group, including nominee Alan Howe's long-standing roles with Alimco Financial Corporation, a MILFAM group member.
The company urges shareholders to use caution when reviewing MILFAM's proxy materials and to vote FOR the management nominees using the WHITE proxy.