HOUSTON, TX -- (Marketwire) -- 06/27/12 -- Equus Total Return, Inc. (NYSE: EQS) ("Equus" or the "Fund") announced the results of the Fund's Annual Meeting of Stockholders which took place on Tuesday, June 26, 2012. The purpose of the meeting was to: (i) elect nine director nominees, each for a term of one year, (ii) ratify the appointment of UHY LLP as the Fund's independent auditor for the fiscal year ended December 31, 2012, (iii) approve on a non-binding advisory basis, the compensation paid to the Fund's named executive officers in 2011, and (iv) vote on two shareholder proposals, the first of which was a vote on whether the Board of Directors should propose a special meeting of Equus shareholders to consider and vote on a Plan of Liquidation of the Fund, and second proposal, which concerned whether the Fund should retain an outside firm to conduct a review of the Fund and make recommendations on how to improve Fund performance.
Holders of 92.23% of the Fund's outstanding shares were present in person or represented by proxy at the Annual Meeting and approved the election of the nine director nominees, the appointment of UHY for fiscal year 2012, and the compensation paid to the Fund's named executive officers in 2011. The two shareholder proposals were defeated. The specific voting results of the Annual Meeting are set forth in the Fund's Current Report on Form 8-K filed today with the Securities and Exchange Commission.
The Fund is a business development company that trades as a closed-end fund on the New York Stock Exchange, under the symbol "EQS". Additional information on the Fund may be obtained from the Fund's website at www.equuscap.com.
This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Fund's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, the risks and uncertainties described in the Fund's filings with the SEC. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Fund undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Fund or any other person that the events or circumstances described in such statements are material.
Pristine Advisers, LLC