TICC Capital: Stockholders Support Recommendations, Reject TSLX's Advisory Contract Proposal

TICC Capital Corp. TICC revealed that preliminary results from its annual meeting indicated that its stockholders supported its board recommendations and rejected TSLX's proposal to end its investment advisory contract.

The company stated that the preliminary vote count suggested that its stockholders voted in favor of a management proposal to modify its bylaws to implement a majority vote standard for the election of directors whenever there is no contest. The shareholders also ratified the appointment of PricewaterhouseCoopers LLP as its independent public accounting firm for the fiscal year 2016.

Related Link: TICC Sends Letter To Stockholders Urging Them Vote White Proxy Card Today

TICC Capital said that it awaits the independent inspector report on elections before releasing any further statements about the vote. The company disclosed that the inspector is expected to issue a preliminary tabulation of the vote results within the next several business days. After that, it would file a Current Report on Form 8-K with the SEC.

The company's chairman, Steve Novak, 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."

Following the news, the stock traded up by $0.05, or 0.72 percent, to $6.30 on Friday.

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