Preliminary Results Show That TICC Stockholders Reject TSLX’s Advisory Contract Proposal; Support TICC’s Recommendations
September 02 2016 - 11:52AM
Business Wire
Final Results to be Released after Tabulation
and Certification
TICC Capital Corp. (NASDAQ:TICC) (“TICC”, the “Company”, or
“we”) today announced that preliminary results show that TICC
stockholders have rejected TSLX’s proposal to terminate the
Company’s investment advisory contract, and supported TICC’s board
recommendations at the Company’s 2016 Annual Meeting of
Stockholders held this morning in New York City, including the
re-election of Tonia L. Pankopf to TICC’s board.
Steve Novak, Chairman of TICC, said “We are gratified with the
support our stockholders have expressed for TICC’s ongoing
strategic plan. We thank them for their feedback during this
process and look forward to continuing this dialogue. We firmly
believe this was the best outcome for stockholders and, looking
ahead, remain committed to implementing our investment strategy
while driving attractive returns.”
The preliminary vote count also indicates that stockholders
voted FOR a management proposal to amend the Company’s bylaws to
implement a majority vote standard for the election of directors in
uncontested elections; and FOR the ratification of the appointment
of PricewaterhouseCoopers LLP as TICC’s independent registered
public accounting firm for the fiscal year ending December 31,
2016.
The Company is awaiting the report of the independent inspector
of elections before releasing any further statements about the
vote. The inspector has indicated that it expects to issue a
preliminary tabulation of the vote results within the next several
business days, following which the Company expects to file a
Current Report on Form 8-K with the Securities and Exchange
Commission reporting the inspector’s preliminary results and, when
available, will file a Current Report on Form 8-K with the
inspector’s final voting results.
About TICC Capital Corp.
TICC Capital Corp. is a publicly-traded business development
company principally engaged in providing capital to established
businesses, investing in syndicated bank loans and purchasing debt
and equity tranches of collateralized loan obligations.
Forward Looking Statements
This press release contains forward-looking statements subject
to the inherent uncertainties in predicting future results and
conditions. Any statements that are not statements of historical
fact (including statements containing the words "believes,"
"plans," "anticipates," "expects," "estimates" and similar
expressions) should also be considered to be forward-looking
statements. Certain factors could cause actual results and
conditions to differ materially from those projected in these
forward-looking statements. The above statements are based entirely
on preliminary results and are subject to change based on the final
certification of the inspection of elections. These factors are
identified from time to time in our filings with the Securities and
Exchange Commission. We undertake no obligation to update such
statements to reflect subsequent events, except as may be required
by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20160902005510/en/
TICCMedia:Sard Verbinnen & CoEmily
Deissler/Nikki Ritchie/Ben
Spicehandler212-687-8080orStockholders:Alliance Advisors,
LLC855-601-2247
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