GREENWICH, Conn.--(BUSINESS WIRE)--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.