BOCA RATON, Fla., June 28, 2017 /PRNewswire/ -- Emergent Capital, Inc. (OTCQB: EMGC) ("Emergent" or the "Issuer") today announced the shareholder voting results from its 2017 Annual Meeting held June 27, 2017.
Proposal One - Election of Directors:
The shareholders elected each of the director nominees set forth below for a one-year term expiring at the next Annual Meeting of Shareholders. The shareholders voted as follows:
|
Nominee |
Votes For |
Votes Withheld |
Broker Non-Votes |
|
James Chadwick |
13,485,984 |
3,372,607 |
— |
|
Michael Crow |
13,486,621 |
3,371,970 |
— |
|
Andrew Dakos |
12,121,047 |
4,737,544 |
— |
|
Phillip Goldstein |
11,755,265 |
5,103,326 |
— |
|
Gerald Hellerman |
12,950,654 |
3,907,937 |
— |
|
Antony Mitchell |
13,498,234 |
3,360,357 |
— |
|
Gilbert Nathan |
14,985,081 |
1,873,510 |
— |
Proposal Two - Advisory Vote on Executive Compensation.
The shareholders approved, on an advisory basis, the compensation of the Company's named executive officers for the fiscal year ended December 31, 2016. The shareholders voted as follows:
|
For |
Against |
Abstain |
Broker Non-Votes |
|
12,568,545 |
3,796,039 |
494,007 |
— |
Proposal Three - Ratification of Appointment of Independent Registered Public Accountant.
The selection of Grant Thornton LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2017 was ratified by shareholders. The shareholders voted as follows:
|
For |
Against |
Abstain |
|
15,635,206 |
749,675 |
473,710 |
Proposal Four - Vote on Amendment to the Company's Articles of Incorporation.
The shareholders approved an amendment to the Company's Articles of Incorporation to increase the number of authorized shares of the Company's common stock. The shareholders voted as follows:
|
For |
Against |
Abstain |
|
13,761,886 |
2,383,144 |
713,561 |
Proposal Five - Vote to approve an amendment to the Company's Amended and Restated 2010 Omnibus Incentive Plan.
The shareholders approved an amendment to the Company's Amended and Restated 2010 Omnibus Incentive Plan (the "Plan"), including an increase to the total number of shares authorized under the Plan. The shareholders voted as follows:
|
For |
Against |
Abstain |
|
12,265,980 |
4,528,925 |
63,686 |
About Emergent Capital, Inc.
Emergent Capital, Inc. (OTCQB: EMGC) is a specialty finance company that invests in life settlements. More information about Emergent can be found at www.emergentcapital.com.
Safe Harbor Statement
This press release may contain certain "forward-looking statements" relating to the business of Emergent Capital, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, and involve known and unknown risks and uncertainties. Although Emergent believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. These statements include, but may not be limited to, those relating to the proposed exchange offer, the Proposed Amendments, and the transactions expected to be engaged in in connection with the proposed exchange offer. In addition to the risks and uncertainties noted in this release, there are certain factors that could cause actual results to differ materially from those anticipated by some of the statements made. These include (1) risks associated with the transactions contemplated by the exchange offer, including but not limited to risks related to the failure to close the transactions contemplated by the exchange offer, including due to the failure to receive the minimum requisite tender, (2) the ability to successfully complete the other transactions related to our recapitalization efforts, (3) loss of key management and other personnel, (4) risks associated with our debt leverage and operating covenants under our debt instruments, (5) changes in economic conditions in the United States and abroad, and (6) other risks, uncertainties and other factors described in Emergent's quarterly reports on Form 10-Q and annual reports on Form 10-K and in Emergent's other filings with the U.S. Securities and Exchange Commission (SEC) or in materials incorporated therein by reference. Other than as required under the securities laws, Emergent does not assume a duty to update these forward-looking statements to reflect subsequent events or circumstances or actual outcomes. Actual results could vary materially depending on such risks and uncertainties that may affect Emergent and its business.
SOURCE Emergent Capital, Inc.