MVC Capital and Wynnefield Capital Reach Agreement on Board Nominations for July 15th Annual Meeting - Seite 2

Mr. Obus continued, “We thank Chairman Michael Tokarz, and MVC’s independent directors, for facilitating today’s settlement.  While I may have had differences of opinion in regard to MVC’s business decisions, personal accusations were not intended. I have always felt Michael to be a man of integrity and appreciate his commitment to acting in the best interest of MVC and all its stockholders.  I look forward to maintaining constructive dialogue with Michael, along with the Board and the management team to achieve our collective goal of value creation for stockholders.”

Wynnefield Capital is a long term stockholder of MVC, with beneficial ownership of approximately 8.5% of MVC’s outstanding common stock. 

The agreement between MVC and Wynnefield, which contains certain customary standstill, voting, and other provisions, will be filed with the Securities and Exchange Commission (SEC).

Kramer Levin Naftalis & Frankel LLP provided legal counsel to MVC Capital. Kane Kessler, P.C. provided legal counsel to Wynnefield Capital.

About Ron Avni

• 20 years of extensive financial, operational and investment management experience.
• Track record of successfully creating shareholder value within distressed companies and transforming these companies in collaboration with key stakeholders.
• Adviser to companies on investment and business strategies.   
• Served as a portfolio manager at QVT Financial LP, a multi-billion-dollar investment firm where, among other things, he led investment activities in closed-end fund arbitrage and related special situations globally.
• Served as senior quantitative analyst and trader at Weiss Asset Management, where he developed quantitative trading methodologies and software as well as managed a broad array of the firm’s business operations.
  
• CFA Charterholder.  Received an AB in Physics, magna cum laude, from Harvard University and is enrolled in a PhD program at the University of Texas at Austin. 
  

About John Chapman

• Specializes in representing shareholder interests in connection with the operation and management of investment funds and ancillary assets.
• Unique skillset, insights and qualifications to serve as a member of MVC’s Board and any of its committees.
  
• Extensive legal, financial analysis and corporate governance expertise.
  
• Served as the chairman, executive director, or non-executive director of a number of public companies, both domestically and globally.