TEJON RANCH, Calif., May 09, 2025 (GLOBE NEWSWIRE) -- Tejon Ranch Co. (NYSE: TRC), (“Tejon” or the “Company”), a diversified real estate development and agribusiness company, today distributed a letter to shareholders signed by Kern County leaders in support of Tejon’s Board and management and opposing efforts by Bulldog Investors (“Bulldog”) that would jeopardize the development of Tejon’s Master Planned Communities. The letter, signed by State Senators Shannon Grove and Melissa Hurtado, State Assemblymemb ...

Tejon’s Board Continues to Take Decisive Strategic Steps to Drive the Company’s Growth at Tejon Ranch Commerce Center and is Uniquely Positioned to Advance the Value of its Master-Planned Communities Urges Shareholders to Vote “FOR” Only Tejon’s Highly Qualified Director Nominees on the Company’s WHITE Proxy Card TODAY TEJON RANCH, Calif., April 22, 2025 (GLOBE NEWSWIRE) -- Tejon Ranch Co. (NYSE:TRC), (“Tejon” or the “Company”), a diversified real estate development and agribusiness company, today filed an ...

Core Viewpoint - Tejon Ranch Co. urges shareholders to vote exclusively for its own director nominees on the WHITE proxy card, emphasizing that Bulldog Investors' campaign poses risks to the company's long-term value and shareholder interests [1][2][3]. Company Strategy and Performance - Tejon Ranch has a proven history of success in real estate development and securing land use entitlements, which is crucial for maximizing the value of its unique assets [7][10]. - The company has successfully generated over $110 million in cumulative cash flow from its Tejon Ranch Commerce Center (TRCC) through strategic planning and execution [11]. - Tejon has reduced discretionary land use entitlement spending by 38% over the past five years, demonstrating prudent capital allocation while maintaining low debt levels [12]. Risks of Bulldog Investors' Nominees - Bulldog Investors' nominees lack meaningful experience in real estate and California-specific regulations, which are essential for overseeing Tejon's complex operations [4][6]. - Bulldog's focus on short-term gains could jeopardize the long-term value created by Tejon's strategic investments in master planned communities (MPCs) [14]. Importance of Shareholder Vote - The company emphasizes the importance of shareholder votes in maintaining its strategic direction and protecting long-term investments against Bulldog's short-sighted approach [3][15]. - Tejon's Board believes that electing its recommended nominees is critical for continuing the company's value creation strategy and ensuring future returns for shareholders [13][16].