180 Degree Capital Corp. Notes Average Discount of Net Asset Value per Share to Stock Price for Fourth Month of Initial Measurement Period of Its Discount Management Program - Seite 2
“This market has become borderline laughable in its inability to reward any company other than those with products, or who are thought to have products, that enable artificial intelligence solutions, such as NVDA,” added Mr. Rendino. “While that statement may be an exaggeration, it is not too far off. The Russell Microcap Index is still down 30% from its November 2021 highs, but the fundamentals of many of its component companies do not support such declines in value. In spite of these market dynamics, we remain focused on our investment strategy that we believe will create value for stockholders over investment cycles and the long term, and we stand ready to ramp up our constructive activism with certain holdings to drive additional value creation.”
“We also wanted to take this opportunity to thank 180 Degree Capital’s stockholders for their support at this year’s Annual Meeting of Stockholders,” said Daniel B. Wolfe, President of 180 Degree Capital. “Approximately 70% of our outstanding common stock voted on this year’s proposals without us needing to actively solicit votes. Each of our director nominees received affirmative votes from over 94% of the shares voted at the meeting. Shareholders also affirmed the selection of our independent registered public accountant, EisnerAmper LLP, for this fiscal year. We are committed to value creation through our investment focus and constructive activism strategy for all stockholders, and again appreciate the overwhelming support we received at this year’s Annual Meeting.”
Annual Meeting of Shareholders
The Company held its Annual Meeting of Shareholders on April 15, 2024. The following votes were cast for directors:
For | % Voted For | Withheld | % Withheld | |
Stacy R. Brandom | 6,560,517 | 94.4% | 391,454 | 5.6% |
Kevin M. Rendino | 6,607,460 | 95.0% | 344,511 | 5.0% |
Richard P. Shanley | 6,569,953 | 94.5% | 382,018 | 5.5% |
Parker A. Weil | 6,572,294 | 94.5% | 379,677 | 5.5% |
Daniel B. Wolfe | 6,602,549 | 95.0% | 349,422 | 5.0% |
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The following votes were cast to ratify EisnerAmper LLP as the Company's independent public accounting firm for the fiscal year ending December 31, 2024: