Watch for the Issuer's response to the EGM requisition and the date set for the meeting. The activist's ability to pass resolutions depends on turnout; with ~35.5% ownership, they are close to a majority if other shareholders support them. Monitor for any settlement or counter-proposal from the board.
Price Chart
Executive Summary
Peter R. Kellogg and affiliated entities (the Reporting Group) filed Amendment No. 6 to their Schedule 13D on Scully Royalty Ltd., escalating their activist campaign by delivering a Notice of Requisition for an Extraordinary General Meeting (EGM) on September 14, 2026. The EGM seeks to replace four incumbent directors with four nominees (Jerrod Freund, Mark Holliday, Nimesh Patel, Skyler Wichers) via ordinary resolutions, with fallback special resolutions to remove incumbents if needed. The Reporting Group's aggregate beneficial ownership is approximately 35.5% (Peter R. Kellogg) and 23.6% (Charles K. Kellogg), with entities like Goose Creek Capital, Inc. holding 22.4% and IAT Reinsurance Company Ltd. holding 21.1%.
Key Financial Metrics
Key Facts
- On September 14, 2026, the Reporting Group delivered a Notice of Requisition for an EGM to replace four incumbent directors with four nominees.
- Peter R. Kellogg beneficially owns 5,400,010 common shares (35.5% of the class).
- Charles K. Kellogg beneficially owns 3,586,664 common shares (23.6%).
- Goose Creek Capital, Inc. holds 3,416,664 shares (22.4%).
- IAT Reinsurance Company Ltd. holds 3,216,664 shares (21.1%).
- The EGM requisition is a direct escalation from prior passive stake filings, signaling a move to force board change.
Financial Impact
The activist group controls ~35.5% of shares, giving them significant voting power to pass director nominations. No financial figures for deal value or costs are provided.
Risk Factors
- The EGM may be delayed or contested by the incumbent board, leading to a proxy fight.
- The activist's nominees may not be elected if other shareholders do not support the requisition.
- The company's performance or strategic direction may not improve even with board change.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13D/A Filing (Primary) | 0001104659-26-108347 |
| Document: 0001104659-26-108347-index.html | 0001104659-26-108347 |
| Document: 0001104659-26-108347.txt | 0001104659-26-108347 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | 6-K | $5.08 | awaiting T+20 | — | $4.42 (−12.99%) |
Oct 2, 2026 24d ago | 6-K | $5.00 | awaiting T+20 | — | $4.42 (−11.60%) |
Oct 1, 2026 25d ago | 6-K | $5.07 | awaiting T+20 | — | $4.42 (−12.75%) |
Sep 16, 2026 5w ago | SC 13D/A | $5.37 $4.75 | ▼ −11.55% | ▼ −12.75% | $4.42 (−17.69%) |
Sep 16, 2026 5w ago | SC 13D/A | $5.37 $4.75 | ▲ +11.55% | ▲ +12.75% | $4.42 (+17.69%) |
Aug 10, 2026 11w ago | 6-K | $5.87 $5.56 | ▼ −5.28% | ▼ −4.37% | $4.42 (−24.70%) |
Jul 20, 2026 14w ago | 6-K | $5.23 $5.86 | ▲ +12.05% | ▲ +7.93% | $4.42 (−15.49%) |
Jul 13, 2026 15w ago | 6-K | $5.41 $5.87 | ▲ +8.50% | ▲ +5.32% | $4.42 (−18.30%) |
US Market Status
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