Recent client, industry and company news and events
Bloomberg 2020 Global Activism Market Review
Bloomberg has released their 2020 Global Activism Market Review. InvestorCom received recognition in two categories for an active first quarter. InvestorCom was ranked as a top Proxy Adviser to Activist Shareholders in contested solicitations. And also was recognized as a top adviser to investment funds in activist proxy campaigns. For more information and a thorough…
SABA CAPITAL REACHES AGREEMENTS WITH THREE WESTERN ASSET CLOSED-END FUNDS
CORRECTING and REPLACING Saba Capital Reaches Agreements with Three Western Asset Closed-End Funds Western Asset Global High Income Fund Inc., Western Asset High Income Fund II Inc., and Western Asset High Income Opportunity Fund Inc. to Commence Tender Offers The corrected release reads: SABA CAPITAL REACHES AGREEMENTS WITH THREE WESTERN ASSET CLOSED-END FUNDS Western Asset…
Shareholder Activism: An Expert Opinion from InvestorCom’s CEO
Following up on our last IR bulletin where we discussed the growing trend of shareholder activism and steps IROs can take to manage such investors, Intro-act Director and IR expert, Laura Guerrant-Oiye, spoke with John Glenn Grau, president and CEO of InvestorCom, a provider of proxy solicitation response campaigns, activist solicitation and advisory services, stockholder…
Saba Capital Management wins proxy contest against Eaton Vance.
InvestorCom client Saba Capital Management wins proxy contest against Eaton Vance. In this contest, all of Saba’s nominees, David Basile, Peter Borish and Charles I. Clarvit, were elected to the Board. Shareholders also voted to declassify the Board. This contest shows that shareholders are looking to improve performance and corporate governance at Eaton Vance. https://finance.yahoo.com/news/saba-capital-nominees-overwhelmingly-elected-200500780.html
Activism in a Pandemic
The 2020 proxy has differed from years past due to the spread of covid-19 and is changing the way that companies interact with their shareholders. The dip in the market has caused some activists to swoop up shares at the greatly reduced price and make a bid for a takeover. This is causing some companies…
Bloomberg Names InvestorCom as Top Global Proxy Solicitor
InvestorCom Top choice for small-cap activists Bloomberg released their first Activism Advisory League Tables and has named InvestorCom as the top proxy solicitor for activists based on our number of engagements in 2019. This made the firm the number one choice for small-cap activists in the past year.
InvestorCom named Number Two Proxy Firm by Activist Insight
InvestorCom Wins Top Place Among Proxy Firms Activist Insight completed research on proxy advisers, and has named InvestorCom as the second largest proxy advisor to activist shareholders in the United States in 2019. We could not be more excited about this achievement. To read the report in full, please follow the link, https://www.activistinsight.com/research/AiM_122019_AdviserAwards.pdf
SEC Proposed Proxy Rule Amendments 2020
On November 5, 2019, the Securities and Exchange Commission voted to propose certain amendments to its proxy rules. One of the proposed changes seeks to “modernize the criteria for use of the shareholder-proposal process through the company’s proxy statement.” Another proposed change relates to proxy advisory services such as ISS and Glass, Lewis & Co.…
Liberated Syndication Announces Settlement Agreement with Camac Partners
InvestorCom client Camac Partners achieves settlement with Liberated Syndication. This settlement includes, installing updates to the board, a strategic review committee and annual meeting dates. ACCESSWIRE October 4, 2019 Eric Shahinian, Brad Tirpak, and an Independent Director to Join Board; Camac Withdraws Special Meeting Request and Dismisses Nevada Litigation PITTSBURGH, PA / ACCESSWIRE / October…
Tix Corporation Announces New Board of Directors
InvestorCom client, HSB Capital Partners, L.P., gains board representation at Tix Corporation. GlobeNewswire• October 7, 2019 STUDIO CITY, CA, Oct. 07, 2019 (GLOBE NEWSWIRE) — Tix Corporation (the “Company”) (TIXC) today announced that it reached an agreement with HSB Capital Partners, L.P. and Haren Bhakta, stockholders of the Company (together, “HSB”), resolving certain disputes regarding…
OWENS REALTY MORTGAGE SHAREHOLDERS APPOINT HOVDE CAPITAL ADVISORS’ NOMINEE AND HOVDE GROUP CEO STEVEN HOVDE TO THE BOARD OF DIRECTORS
Shareholders agreed that change was needed in the boardroom of ORM and provided their overwhelming support. MADISON, Wis., July 26, 2018 — Hovde Capital Advisors is pleased to announce that Steven D. Hovde was elected by shareholders to the board of directors of Owens Realty Mortgage, Inc. (NYSEAM: ORM) at the annual meeting of shareholders…
Owens Realty Mortgage, Inc. Announces Repurchase and Settlement Agreement with Freestone Capital Management
WALNUT CREEK, Calif., Jan. 3, 2018 /PRNewswire/ — Owens Realty Mortgage, Inc. (NYSE American: ORM) (the “Company”) today announced that it has entered into an agreement with Freestone Capital Management, LLC and certain of its affiliates (collectively, “Freestone”) to repurchase the 810,937 shares of the Company’s common stock beneficially owned by Freestone. The Company agreed to repurchase…
Hudson Global Announces Plan for Strategic Divestitures; Will Focus on Global RPO Business
NEW YORK, Dec. 17, 2017 (GLOBE NEWSWIRE) — Hudson Global, Inc. (HSON) (“Hudson”), a leading global talent solutions company, today announced it has entered into definitive purchase agreements to sell its recruitment and talent management operations in Europe and Asia Pacific to strategic buyers in three transactions. Hudson intends to focus on its growing, global…
Freestone Capital Management Comments On Owens Realty Mortgage Annual Meeting Results
Highlights That ORM’s Board Nominee, Gary C. Wallace, Received Support of Less Than 50% of Outstanding SharesQuestions Why Holders of Approximately 67% Of Outstanding Shares Failed to Support Gary WallaceFreestone Believes that Liquidation of ORM is Best Way to Maximize Value for Stockholders SEATTLE, June 22, 2017 /PRNewswire/ — Freestone Capital Management, LLC, together with…
SITO Mobile Announces Changes to Board and Management Team
Shareholders Resoundingly Support the Proposals Made in the Consent Solicitation StatementBrent Rosenthal Remains on Board and will be joined by Five New Independent DirectorsThomas J. Pallack Appointed as Interim Chief Executive Officer JERSEY CITY, N.J., June 05, 2017 (GLOBE NEWSWIRE) — SITO Mobile, Ltd. (NASDAQ:SITO), a leading mobile engagement platform (“SITO” or the “Company”), today…
Surge Components Reaches Agreement with Investors Bradley Rexroad and Michael Tofias
Announces Tender Offer to Repurchase at Least Five Million Shares at $1.43 per ShareWill Appoint New Independent Director December 22, 2016 09:00 AM Eastern Standard Time DEER PARK, N.Y.–(BUSINESS WIRE)–Surge Components, Inc. (“Surge” or the “Company”) (OTC Pink: SPRS), a leading supplier of capacitors, discrete semi-conductors and audible and sounding devices, today announced it has…
Edgewater Technology and Ancora Advisors Announce Results of Consent Solicitation
Wakefield, MA and Cleveland, OH – February 23, 2017 – Edgewater Technology, Inc. (“Edgewater” or the “Company”) (NASDAQ: EDGW) and Ancora Advisors, LLC (together with its affiliates, “Ancora”), a 9.2% stockholder of Edgewater, announced today that the Company has received consents from the holders of a majority of its common stock in respect of Ancora’s…
Ecology and Environment, Inc. Reports Higher Earnings In Third Quarter and First Nine Months of Fiscal Year 2017
LANCASTER, N.Y., June 14, 2017 – Ecology and Environment, Inc., (“E & E” or the “Company”) (NASDAQ: EEI) reported earnings of $0.19 per share for the nine months ended April 29, 2017, an increase of 138% from earnings of $0.08 per share reported for the same period of the prior year. A significantly reduced effective…
Virtus Total Return Fund Stockholders Approve Bulldog Investors’ Proposal to Liquidate
SADDLE BROOK, N.J. — June 6, 2016 – Bulldog Investors, LLC (“Bulldog”) announced today that, based on preliminary estimates, stockholders of Virtus Total Return Fund (NYSE: DCA) have voted in favor of Bulldog’s proposal to liquidate DCA at its annual meeting held on Thursday, June 2nd. Phillip Goldstein, a principal of Bulldog, commented: “We are…
Lone Star Value Nominates Five Candidates for Election to Board of Dakota Plains
Lone Star Value Management, LLC (together with its affiliates, “Lone Star Value”, “we” or “us”), the largest stockholder of Dakota Plains Holdings, Inc. (“Dakota Plains” or the “Company”) (NYSE MKT: DAKP), with ownership of approximately 11.0% of the Company’s outstanding shares, announced today that it has formally nominated five candidates for election to the Company’s board of directors (the “Board”) at the Company’s upcoming 2016 annual meeting of stockholders (the “2016 Annual Meeting”).
Read the full news story on PR Newswire.
Leading Independent Proxy Advisory Firm Recommends For Bulldog Investors in Proxy Contest for Hill International
Read the full news story on Bulldog Investors
JCP Investment Management Issues Open Letter to Casella Board
Read the full news story on Morningstar.com
Bulldog Investors’ Nominees Elected as Directors of Brookfield DTLA Fund Office Trust
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