ISS and Glass Lewis Recommend Stockholders of Medley Capital Corporation Vote FOR NexPoint's Slate of Nominees at Annual Meeting
Leading proxy advisory firms both support removal of incumbent directors Seth Taube and Arthur Ainsberg from MCC board
DALLAS, May 24, 2019 /PRNewswire/ -- NexPoint Advisors, L.P. ("NexPoint") announced today that Institutional Shareholder Services ("ISS") and Glass Lewis, two leading independent proxy advisory firms, both issued reports recommending that stockholders of Medley Capital Corporation ("MCC") (NYSE:MCC) vote FOR NexPoint's independent director nominees at the June 4, 2019 annual meeting of stockholders (the "Annual Meeting"). In their proxy analyses, both ISS and Glass Lewis found sufficient reason to support the removal of the two incumbent directors, Seth Taube and Arthur Ainsberg, who are up for re-election.
The following provides summaries of the respective reports. To vote in accordance with the recommendations from ISS and Glass Lewis, MCC stockholders should DISCARD any WHITE proxy card, and vote FOR Stephen A. Mongillo and Mark T. Goglia, NexPoint's nominees, using their BLUE proxy card.
Visit www.MedleyCapitalVote.com to learn more about NexPoint's nominees and to access additional information ahead of the Annual Meeting.
ISS Report on MCC
In summary, ISS concluded:
ISS raised specific issues about the financial situation at MCC, noting:
ISS expressed concerns about the MCC director nominees, including:
In its support for NexPoint's nominees, ISS noted:
Glass Lewis Report on MCC
In summary, Glass Lewis concluded that:
Glass Lewis highlighted broad issues with the current board, along with more specific concerns about MCC's director nominees, including:
Glass Lewis conveyed its support of NexPoint's nominees with its views that the nominees:
About NexPoint Advisors, L.P.
NexPoint Advisors, L.P. (together with its affiliates "NexPoint") is an SEC-registered investment adviser to a suite of alternative investment vehicles, including a closed-end fund, a business development company, and an interval fund, among others. An affiliate of Highland Capital Management, L.P., NexPoint is part of a multibillion-dollar investment platform that serves both retail and institutional investors worldwide. NexPoint's investment capabilities include high-yield credit, real estate, public equities, private equity and special situations, structured credit, and sector- and region-specific verticals build around specialized teams. For more information visit www.nexpointfunds.com.
NexPoint Advisors, L.P. ("NexPoint") has filed a definitive proxy statement with the Securities and Exchange Commission (the "SEC") together with the other participants named therein to be used to solicit (the "Solicitation") proxies for, among other matters, the election of its slate of director nominees at the Annual Meeting of Stockholders (the "Annual Meeting") of Medley Capital Corporation (the "Company") expected to take place on June 4, 2019. Stockholders are advised to read the definitive proxy statement and any other documents related to the Solicitation because they contain important information, including information relating to the participants in the Solicitation. These materials and other materials filed by the participants with the SEC in connection with the Solicitation are available at no charge on the SEC's website at www.sec.gov. In addition, the participants in the Solicitation will provide copies of the definitive proxy statement without charge, upon request. Requests for copies should be directed to the participants' proxy solicitor.
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SOURCE NexPoint Advisors, L.P.