Alcentra Capital Corporation (NASDAQ:ABDC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
On January 4, 2018, Paul J. Echausse informed the board of directors (the “Board”) of Alcentra Capital Corporation (the “Company”) of his intent to resign from his positions as Chairman of the Board and member of the Board, each effective January 8, 2018. Mr. Echausse’s resignation was not the result of a disagreement with the Company on any matter relating to its operations, policies or practices. In connection with Mr. Echausse’s resignation, and to the Company’s Bylaws, the Board approved a decrease in the number of directors that constitutes the full Board to six (6) directors from seven (7) directors.
In addition, on January 9, 2018, the Board appointed Paul Hatfield to serve as Chairman of the Board, effectively immediately. Mr. Hatfield has been a member of the Board since 2013 and previously served as Chairman of the Board from 2014 through April 2017.
Further, on January 9, 2018, the Board, including those members of the Board who are not “interested persons,” as defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended, of the Company or its investment adviser (each, an “Independent Director”), established a lead Independent Director position (the “Lead Independent Director”), and appointed Steven H. Reiff to serve as Lead Independent Director, effective immediately. In his role as theLead Independent Director, Mr. Reiff will, among other responsibilities, preside at all Board meetings at which the Chairman of the Board is not present, including executive sessions of the Independent Directors, serve as a liaison between the Chairman of the Board and the Independent Directors, and review and approve Board meeting agendas. Mr. Reiff has served as an Independent Director on the Board since January 2017.
The Company also issued a press release relating to the matters described herein, a copy of which is furnished as Exhibit 99.1 to this Form 8-K.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits:
99.1 – Press release, dated January 10, 2018
Alcentra Capital Corp ExhibitEX-99.1 2 tv483030_ex99-1.htm PRESS RELEASE Exhibit 99.1 ALCENTRA CAPITAL CORPORATION ANNOUNCES Board cHANGES and RECENT Portfolio and Investment Activities NEW YORK,…To view the full exhibit click here
About Alcentra Capital Corporation (NASDAQ:ABDC)
Alcentra Capital Corporation is a specialty finance company that operates as a non-diversified, closed-end management investment company. The Company operates as a business development company and a regulated investment company. It provides customized debt and equity financing solutions to lower middle-market companies, which are companies having annual earnings, before interest, taxes, depreciation and amortization of between $5 million and $15 million, and/or revenues of between $10 million and $100 million. Its investments range in size from $5 million to $15 million. Its investment objective is to generate both current income and capital appreciation primarily by making direct investments in lower middle-market companies in the form of senior debt, unitranche, second lien, subordinated debt and, to a lesser extent, senior debt and minority equity investments. Its investment focus is to make loans to, and selected equity investments in, privately-held lower-middle-market companies.