BDCA Venture, Inc. Announces Final Voting Results from 2015 Annual Meeting
July 22 2015 - 9:15AM
Business Wire
BDCA Venture, Inc. (the “Company”) announced that it received
final voting results for the 2015 Annual Meeting of Stockholders
held on July 9, 2015 (“Annual Meeting”). On July 21, 2015, IVS
Associates, Inc., the independent inspector of elections for the
Annual Meeting, delivered its final vote tabulation that certified
the voting results for each of the matters set forth below that
were submitted to a vote at the Annual Meeting.
Proposal 1 - Election of Directors
Richard Cohen, Andrew Dakos, Gerald Hellerman and Timothy
Keating received the most votes cast at the Annual Meeting and were
elected as directors of the Company to serve until the 2016 Annual
Meeting of Stockholders or until their respective successors are
duly elected and qualified. Messrs. Cohen, Dakos and Hellerman were
each director nominees of Bulldog Investors, LLC (“Bulldog”). Mr.
Keating was a director nominee of the Company’s management.
Bulldog Proposal 2 – Shareholder Value Maximization
Plan
A proposal submitted by Bulldog to have the Company’s Board of
Directors consider adopting a plan to “maximize shareholder value
within a reasonable period of time” received the required vote of
the stockholders and was adopted by the Company’s stockholders.
Bulldog Proposal 3 – Termination of Investment
Advisory Agreement
A proposal submitted by Bulldog to terminate the Investment
Advisory and Administrative Services Agreement between the Company
and its investment adviser, BDCA Venture Adviser, LLC (the
“Adviser”), as soon as legally permissible thereunder, failed to
receive the required vote of the stockholders and was not adopted
by the Company’s stockholders. Therefore, the Adviser will continue
to serve as investment adviser to the Company pursuant to the terms
of the Investment Advisory and Administrative Services
Agreement.
About BDCA Venture, Inc.
BDCA Venture, Inc. (www.BDCV.com) is a closed-end fund regulated
as a business development company under the Investment Company Act
of 1940, as amended, that seeks to maximize total return by
generating current income through debt investments in growth
companies and, to a lesser extent, through capital appreciation.
BDCA Venture’s shares are listed on Nasdaq under the ticker symbol
“BDCV.”
Forward-Looking Statements
This press release may contain statements of a forward-looking
nature relating to future events. These forward-looking statements
are subject to the inherent uncertainties in predicting future
results and conditions. These statements reflect BDCA Venture’s
current beliefs, and a number of important factors could cause
actual results to differ materially from those expressed in this
press release, including the factors set forth in “Risk Factors”
set forth in BDCA Venture’s Form 10-K and Form 10-Q filed with the
Securities and Exchange Commission (“SEC”), and subsequent filings
with the SEC. Please refer to BDCA Venture’s SEC filings for a more
detailed discussion of the risks and uncertainties associated with
its business, including but not limited to the risks and
uncertainties associated with investing in micro- and small-cap
companies. Except as required by the federal securities laws, BDCA
Venture undertakes no obligation to revise or update any
forward-looking statements, whether as a result of new information,
future events or otherwise. The reference to BDCA Venture’s website
has been provided as a convenience, and the information contained
on such website is not incorporated by reference into this press
release.
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version on businesswire.com: http://www.businesswire.com/news/home/20150722005760/en/
BDCA Venture, Inc.Investor Relations
Contact:Andrew G. Backman, 917-475-2135Investor Relations /
Public Relationsabackman@rcscapital.comorMatthew L. Furbish,
917-475-2153Investor Relationsmfurbish@rcscapital.com
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