CON Investment Corporation (NYSE:C) Files An 8-K Results of Operations and Financial Condition

CON Investment Corporation (NYSE:C) Files An 8-K Results of Operations and Financial Condition

Story continues below

Item 2.02. Results of Operations and Financial Condition.

On March 23, 2017, the board of directors (the “Board”) of
CON Investment Corporation (“CON”) declared four weekly cash
distributions of $0.014067 per share each. Each distribution
will be paid on April 26, 2017, to shareholders of record on
April 4, April 11, April 18, and April 25, 2017. A copy of the
press release announcing the foregoing is attached hereto as
Exhibit 99.1 and incorporated by reference herein.
Item 5.02. Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
Expansion of the Board of Directors and Appointment of
Independent Director
On March 23, 2017, the Board approved an increase in the size of
the Board from five to six directors, and thereafter appointed
Earl V. Hedin, 60, as an independent director for a term expiring
at CON’s 2019 annual meeting of shareholders or until his
successor is duly elected and qualified. Mr. Hedin was also
appointed to serve as a member of CON’s Audit Committee and
Nominating and Corporate Governance Committee. As a result of the
appointment of Mr. Hedin, the Board consists of four independent
Earl V. Hedin, 60, is the co-founder and Managing Partner of
Hudson Partners Group LLC and its broker-dealer, Hudson Partners
Securities LLC, registered with FINRA. The firm assists
investment managers in raising institutional capital for hedge
funds, private equity and other alternative investment
strategies. From 1999 to 2007, Mr. Hedin served as a Senior
Managing Director at Bear, Stearns Co. Inc., where he held
various senior roles building and guiding the Bear Stearns Asset
Management Group. These roles included Chief Financial Officer,
Director of Alternatives and co-head and founder of the firm’s
Private Funds Group. He was responsible for the firm’s sponsored
venture capital funds and headed the approximately $1 billion
private equity fund-of-funds program. During his tenure, he
created numerous alternative asset products and helped raise over
$3 billion for these funds. Mr. Hedin also created the first
hedge fund-of-funds product at Bear Stearns. From 1995 to 1998,
he served as a Managing Director – Principal, and worked on
several key international financial structuring projects,
including the creation of Bear Stearns Irish Bank in Dublin.
Additionally, Mr. Hedin created the Bear Stearns Dublin
Development Center to reduce technology related costs. From 1994
to 1995, he served as Vice President at Bankers Trust New York
Corporation, where he was responsible for strategic planning and
management reporting. Prior to that, from 1989 to 1993, he worked
as a Vice President and Controller in the firm’s Domestic
Merchant Bank and directed all financial management functions
across a variety of business units. During that time, he was also
actively involved in the buying and selling of LBO partnership
interests. From 1988 to 1989, he served as Vice President –
Finance and Chief Financial Officer of American International
Group’s credit subsidiary, A.I. Credit Corporation, and managed
the firm’s liability portfolio. Previously, Mr. Hedin was an
Associate in Morgan Stanley’s venture capital group as well as
the Chief Financial Officer of the group’s activities. Prior to
that, he served as a Senior Accountant at Price Waterhouse.
Mr. Hedin received his M.B.A from Rutgers Graduate School of
Management in 1980 and did graduate studies at Carnegie-Mellon
University. He received his B.A. from Rutgers College in 1978.
Mr. Hedin is a holder of the right to use the Chartered Financial
Analyst designation and is a Certified Public Accountant
(retired). Mr. Hedin also holds various FINRA licenses including
Series 7, 63, 99, 24 (Securities Principal) and 27 (Financial
There are no arrangements or understandings between Mr. Hedin and
any other person to which Mr. Hedin was appointed as a director
of CON. Mr. Hedin has no direct or indirect material interest in
any transaction required to be disclosed to Item 404(a) of
Regulation S-K.
Changes to Titles of Certain Existing Executive Officers
On March 23, 2017, Gregg A. Bresner, CON’s Senior Managing
Director and Chief Investment Officer, was appointed by the Board
as President of CON. As a result of such appointment, (i) Mr.
Bresner will assume the new role of President while maintaining
his current role as Chief Investment Officer; and (ii) Mark Gatto
and Michael A. Reisner, CON’s Co-Chairmen, Co-Presidents and
Co-Chief Executive Officers, will continue their role as
Co-Chairmen and Co-Chief Executive Officers.
Item 9.01. Financial Statements and Exhibits.
99.1 Press Release dated March 28, 2017.

About CĪON Investment Corporation (NYSE:C)

Citigroup Inc. (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. The Company operates through two segments: Citicorp and Citi Holdings. Citicorp is the Company’s global bank for consumers and businesses and represents its core franchises. Citicorp is focused on providing products and services to customers and leveraging the Company’s global network, including various economies. As of December 31, 2016, Citicorp was present in 97 countries and jurisdictions, and offered services in over 160 countries and jurisdictions. Global Consumer Banking (GCB) provides traditional banking services to retail customers through retail banking, including Citi-branded cards and Citi retail services.

CĪON Investment Corporation (NYSE:C) Recent Trading Information

CĪON Investment Corporation (NYSE:C) closed its last trading session up +1.09 at 59.42 with 15,391,117 shares trading hands.

An ad to help with our costs