Gladstone Investment Corporation (NASDAQ:GAIN) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07.
On August24, 2017, Gladstone Investment Corporation (the “Company”) held its 2017 Annual Meeting of Stockholders (the “Annual Meeting”). There were present at the Annual Meeting, in person or by proxy, stockholders holding an aggregate of 16,605,659 shares of the Company’s common stock and 2,867,762 shares of the Company’s preferred stock. The following matters were submitted to the stockholders for consideration:
| 1. | To elect two directors as outlined below. |
| a) | Anthony W. Parker, to be elected by holders of common stock and preferred stock, voting together as a single class, to serve until the 2020 Annual Meeting of Stockholders and until his successor is elected and qualified; and |
| b) | Michela A. English, to be elected solely by the holders of preferred stock, voting as a single class, to serve until the 2020 Annual Meeting of Stockholders and until her successor is elected and qualified. |
| 2. | To approve a proposal to authorize the Company, with the approval of its Board of Directors, to issue and sell shares of common stock (during the 12 months following such stockholder approval) at a price below its then current net asset value per share, subject to certain limitations set forth in the proxy statement (including, without limitation, that the number of shares issued and sold to such stockholder approval does not exceed 25% of its then outstanding common stock immediately prior to each such sale). |
The voting results, as tabulated by and received from the inspectors of election for the Annual Meeting, relating to the matters voted on at the Annual Meeting indicate that: Anthony W. Parker and Michela A. English were elected to serve as directors until the 2020 Annual Meeting of Stockholders, or until their successors are elected and qualified; and proposal two was also approved by the Company’s stockholders. The full voting results are as follows:
| 1(a). | Election of director to hold office until the 2020 Annual Meeting: |
Such matter was voted upon by the stockholders holding common stock and preferred stock, voting together as a single class.
| For | Withheld | BrokerNon-Votes | |
| AnthonyW.Parker | 17,613,602 | 1,859,819 |
| 1(b). | Election of director to hold office until the 2020 Annual Meeting: |
Such matter was voted upon by the stockholders holding preferred stock, voting as a single class.
| For | Withheld | BrokerNon-Votes | |
| MichelaA.English | 1,870,228 | 997,534 |
Continuing directors whose terms did not expire at the Annual Meeting were as follows:
Terry Brubaker, Caren D. Merrick and Walter H. Wilkinson, Jr. (each serving until the 2018 Annual Meeting of Stockholders); and
Paul W. Adelgren, David Gladstone, and John H. Outland (each serving until the 2019 Annual Meeting of Stockholders).
| 2. | Ratification of proposal to authorize the Company, with the approval of its Board of Directors, to issue and sell shares of its common stock (during the 12 months following such stockholder approval) at a price below its then current net asset value per share, subject to certain limitations set forth in the proxy statement (including, without limitation, that the number of shares issued and sold to such stockholder approval does not exceed 25% of its then outstanding common stock immediately prior to each such sale): |
|
For |
Against |
Abstain |
BrokerNon-Votes |
| 14,850,807 | 3,869,574 | 753,040 |
Such matter was voted upon by the Company’s stockholders holding common stock and preferred stock, voting together as a single class. As required by the Investment Company Act of 1940, as amended, this proposal was approved by more than 67% of all voting securities of the Company present at the Annual Meeting and more than 67% of the unaffiliated voting securities of the Company present at the Annual Meeting.
About Gladstone Investment Corporation (NASDAQ:GAIN)
Gladstone Investment Corporation is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objectives are to achieve and grow current income by investing in debt securities of established businesses that it believes will provide stable earnings and cash flow to pay expenses, make principal and interest payments on its outstanding indebtedness and make distributions to stockholders that grow over time, and provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities, generally in combination with the aforementioned debt securities, of businesses that it believes can grow over time to permit it to sell its equity investments for capital gains. It has investments in sectors, such as chemicals, plastics, and rubber, and home and office furnishings, house wares, and durable consumer products, among others. Its investment advisor is Gladstone Management Corporation.
