TICC Capital (TICC) Says Prelim. Shareholder Voting Results Reject TSLX Proposal

September 2, 2016 11:52 AM EDT

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TICC Capital Corp. (Nasdq: TICC) 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.

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