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Msg  3275 of 3300  at  1/23/2020 9:23:07 AM  by

lumpygravy


MVC Capital - strategic alternatives

MVC under some pressure from Wynnefield Partners....
 
 
"On January 17, 2020, Wynnefield Partners I, a stockholder owning 2,000 shares of record, delivered a
letter to the Issuer with respect to the submission of a stockholder proposal and supporting statement
pursuant to Rule 14a-8 of the Commission’s proxy regulations promulgated under the Securities and
Exchange Act of 1934, as amended, requesting that the Issuer’s stockholders adopt a resolution
recommending that the Board immediately take all necessary steps within its power to commence the
process of: (i) selling the Company to a strategic acquiror, (ii) liquidating its portfolio and returning proceeds
to stockholders, or (iii) merging with another business development company, and recommending that the
Company cease making any new investments and immediately move forward on one of those three paths
(the “Proposal”). The Proposal is being submitted in light of Wynnefield Partner I’s belief that the Company
has been unable to address the significant discount between its net asset value and share price, has had
a significant decrease in market capitalization, offers a relatively low dividend when compared to its peers,
and has offered a poor total stockholder return, both in absolute terms and relative to U.S. equity markets."

 


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