The Committee to Enhance Equus Mails Proxy Materials and Letter to Stockholders
April 16 2010 - 8:00AM
Business Wire
The Committee to Enhance Equus, owning 11.4% of the outstanding
shares of Equus Total Return, Inc. (NYSE:EQS), announced today it
has mailed its proxy statement, GOLD proxy card, and a letter to
stockholders in connection with the Company’s May 12, 2010 Annual
Meeting.
In its letter The Committee expresses its frustration over the
unacceptable 65% drop in share price from June 30, 2005 to March
26, 2010 (the last trading day before members of the Committee
announced their intention to launch a proxy contest) and an
alarming approximate 37% decrease in net asset value in 2009 alone.
The Committee believes its highly qualified director nominees, with
significantly more share ownership than the current board, will
bring the stability the Company desperately needs at this critical
juncture. The Committee’s substantial share ownership, as compared
to the current board’s ownership of approximately 1/2%, aligns its
nominees’ interest with those of all shareholders.
Responding to Equus delivering its proxy materials to many
stockholders via overnight courier The Committee stated, “Once
again we are struck by the wasteful spending of precious Company
dollars by this management team and current majority. In this case
the Company is spending thousands of dollars of stockholders’ money
to deliver their proxy materials overnight. Stockholders should be
rightly outraged at this unnecessary expense and further reckless
depletion of Company assets which is clearly designed to entrench
the current majority.”
Stockholders are urged to read The Committee’s letter and
definitive proxy statement in their entirety and to vote their
shares today on the GOLD proxy card.
The Committee has filed a definitive proxy statement and other
documents with the Securities and Exchange Commission. These
materials contain important information regarding the solicitation
of proxies for use at the Company’s annual meeting. The definitive
proxy statement and form of proxy is available to stockholders from
The Committee at no charge at www.ourmaterials.com/enhanceequus and
is also available at no charge at the Securities and Exchange
Commission’s website at www.sec.gov. Stockholders may also contact
The Committee’s proxy solicitor, MacKenzie Partners, Inc. toll-free
at 1-800-322-2885. The definitive proxy statement and a form of
proxy was disseminated to stockholders on or about April 15,
2010.
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