Investors Capital Holdings Stockholders Approve Merger Agreement With RCAP
Investors Capital Holdings, Ltd. (NYSE MKT: ICH, or “ICH”), a Delaware corporation, announced that, at a special meeting held today (the “Special Meeting”), ICH stockholders adopted the Agreement and Plan of Merger, dated as of October 27, 2013, as amended as of February 28, 2014 (the “Merger Agreement”), by and among RCS Capital Corporation (NYSE: RCAP, or “RCAP”), a Delaware corporation, Zoe Acquisition, LLC (“Merger Sub”), a Delaware limited liability company and a wholly-owned subsidiary of RCAP, and ICH, and approved the transactions contemplated by the Merger Agreement, including the merger of ICH with and into Merger Sub, with Merger Sub surviving the merger and continuing as a subsidiary of RCAP under the name “Investors Capital Holdings, LLC” (the “Merger”).
Stockholders approved, on a non-binding advisory basis, the compensation that may be paid or become payable to ICH's named executive officers in connection with the Merger.
The Merger is expected to be effective on July 11, 2014.
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