American Capital Stockholders Elect Directors, Approve Repeal of Fundamental Policies
01 7월 2005 - 6:54AM
PR Newswire (US)
American Capital Stockholders Elect Directors, Approve Repeal of
Fundamental Policies BETHESDA, Md., June 30 /PRNewswire-FirstCall/
-- American Capital Strategies Ltd. (NASDAQ:ACAS) announced today
that at its 2005 annual meeting of stockholders, stockholders
re-elected two directors of the Company, approved the repeal of the
Company's fundamental policies and approved the adoption of the
Company's 2005 Employee Stock Option Plan. Stockholders also
approved the continuation of Ernst & Young LLP as the Company's
independent auditors. Neil M. Hahl and Stan Lundine were re-elected
to three year terms on the American Capital Board of Directors. Mr.
Hahl is a general business consultant. He chairs the American
Capital Board's Audit and Compliance Committee. Mr. Lundine is Of
Counsel of the law firm Sotir and Goldman and Executive Director of
the Chautauqua County Health Network. He serves on the American
Capital Board's Compensation and Corporate Governance Committee.
"Every year, we have submitted to our stockholders important
proposals affecting our ability to perform at the highest level as
a public company. We appreciate the support of our stockholders in
passing these proposals. It allows us to continue to serve our
constituents well," said Chairman, President and Chief Executive
Officer Malon Wilkus. "We particularly appreciate the support of
the repeal of our fundamental policies, which was rather
complicated and required the approval of a majority of all our
outstanding shares versus just a majority of the quorum. The
passage of this proposal provides us greater flexibility to
navigate our business in the proper direction in the years to
come." American Capital Strategies Ltd. 2005 Proxy Voting Proposals
FOR WITHHELD Re-elect Director Hahl 86,716,890 1,155,264 Re-elect
Director Lundine 85,953,757 1,918,397 FOR AGAINST ABSTAIN Adopt
2005 Employee Stock Option Plan 45,012,469 7,744,932 1,168,821
Repeal of the Company's Fundamental Policies 48,261,632 4,274,343
1,390,247 Engage Ernst & Young LLP as Auditors for 2005
86,680,710 703,265 488,179 ABOUT AMERICAN CAPITAL American Capital
is a publicly traded buyout and mezzanine fund with capital
resources of approximately $5.4 billion. American Capital invests
in and sponsors management and employee buyouts, invests in private
equity buyouts, and provides capital directly to private and small
public companies. American Capital provides senior debt, mezzanine
debt and equity to fund growth, acquisitions and recapitalizations.
As of May 31, 2005, American Capital shareholders have enjoyed a
total return of 364% since the Company's IPO -- an annualized
return of 22%, assuming reinvestment of dividends. American Capital
outperformed 86%, 72%, 85% and 91% of all U.S. public companies
with a current market capitalization greater than $1 billion in the
one-year, three-years, five-years and the approximately seven and a
half years since the IPO, in each case ending May 31, 2005.
American Capital has paid a total of $717 million in dividends and
paid or declared $17.51 dividends per share since its August 1997
IPO at $15 per share. Companies interested in learning more about
American Capital's flexible financing should contact Mark Opel,
Senior Vice President, Business Development, at (800) 248-9340, or
visit our website. Performance data quoted above represents past
performance of American Capital. Past performance does not
guarantee future results and the investment return and principal
value of an investment in American Capital will likely fluctuate.
Consequently, an investor's shares, when sold, may be worth more or
less than their original cost. Additionally, American Capital's
current performance may be lower or higher than the performance
data quoted above. This press release contains forward-looking
statements. The statements regarding expected results of American
Capital Strategies are subject to various factors and
uncertainties, including the uncertainties associated with the
timing of transaction closings, changes in interest rates,
availability of transactions, changes in regional, national or
international economic conditions, or changes in the conditions of
the industries in which American Capital has made investments.
DATASOURCE: American Capital Strategies Ltd. CONTACT: John
Erickson, CFO, of American Capital Strategies Ltd., +1-301-951-6122
Web site: http://www.americancapital.com/
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