Equus Announces Results of Annual Shareholder Meeting
Rhea-AI Summary
Equus Total Return, Inc. (NYSE: EQS) held its Annual Meeting of Stockholders on May 7, 2020, with 83.09% of outstanding shares represented. Shareholders approved five director nominees, with each receiving an average of 94% of votes cast. The appointment of BDO USA, LLP as independent accountants for fiscal 2020 was also ratified, garnering 11 million votes in favor. A non-binding advisory vote on executive compensation for 2019 received approximately 8.8 million votes in favor. The detailed voting results are included in a Current Report filed with the SEC.
Positive
- 94% average approval for five director nominees indicates strong shareholder support.
- BDO USA, LLP appointed as independent accountants with overwhelming approval (11 million votes).
- Non-binding advisory vote on executive compensation shows majority support (8.8 million votes).
Negative
- None.
News Market Reaction – EQS
In the trading session that priced this news, EQS declined 5.59%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
HOUSTON, May 08, 2020 (GLOBE NEWSWIRE) -- Equus Total Return, Inc. (NYSE: EQS) (“Equus” or the “Company”) announced the results of the Company’s Annual Meeting of Stockholders which took place on Thursday, May 7, 2020. The purpose of the meeting was to consider and approve the following three proposals:
- election of the following five director nominees, each for a term of one year:
- Fraser Atkinson;
- Kenneth I. Denos;
- Henry W. Hankinson;
- John A. Hardy; and
- Robert L. Knauss;
- ratification of the appointment of BDO USA, LLP (“BDO”) as the Company’s independent accountants for the fiscal year ended December 31, 2020; and
- approval, on a non-binding advisory basis, of the compensation paid to the Company’s named executive officers in 2019.
Holders of
The shareholders also overwhelmingly approved the appointment of BDO as the Company’s independent accountants for fiscal year 2020, with 11.0 million votes cast in favor the appointment, 0.2 million votes against, and 0.003 million votes abstaining.
With respect to a non-binding vote regarding compensation paid to the Company’s named executive officers in 2019, approximately 8.8 million votes were cast in favor, 0.5 million votes against, and 0.006 million votes abstaining.
The specific voting results of the Annual Meeting are set forth in the Company’s Current Report on Form 8-K filed today with the Securities and Exchange Commission.
About Equus
The Company is a business development company that trades as a closed-end fund on the New York Stock Exchange, under the symbol "EQS". Additional information on the Company may be obtained from the Company’s website at www.equuscap.com.
This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Company’s current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, the risks and uncertainties described in the Company’s filings with the SEC. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.
Contact:
Patricia Baronowski
Pristine Advisers, LLC
(631) 756-2486