05:21 PM EDT, 04/11/2024 (MT Newswires) -- Braemar Hotels & Resorts ( BHR ) urged shareholders Thursday to disregard any proxy materials they may receive from Blackwells Capital ahead of the company's next annual meeting on May 15.

The real estate investment trust said it decided last month to reject the activist investor's bid to nominate four director candidates, contending Blackwells' nominating materials contained "numerous false statements and material omissions."

Because of the March 25 board decision, any shareholder vote for Blackwells' candidate slate will be not be counted.