Bethesda, MD -- American Capital Strategies Ltd. (Nasdaq:ACAS) stockholders re-elected three directors of the Company and approved each of the other matters presented to the stockholders at the Company's annual meeting Wednesday.
Mary C. Baskin, David Gladstone and Alvin N. Puryear were re-elected to three year terms on the American Capital Board of Directors. Baskin is Managing Director of the Ansley Consulting Group, a retained executive search firm. Previously, she was a co-founder and partner of Qualye Partners, a Chicago-based financial consulting firm. Gladstone is Vice-Chairman of American Capital. He is also Chairman of Coastal Berry Company. Puryear is the Lawrence N. Field Professor of Entrepreneurship at Baruch College, City University of New York. He is also Director of the GreenPoint Bank and GreenPoint Financial Corporation.
Stockholders also approved several other measures under consideration, including: an increase in the number of shares available for options to be issued to employees; the issuance of warrants to purchase up to 1 million shares of the Company's stock; an amendment to the Company's fundamental policies to permit the Company to sell securities short or write or buy options with regard to managing the risks associated with certain portfolio securities; and the continuation of Ernest & Young LLP as the Company's independent auditors.
American Capital is a publicly traded buyout and mezzanine fund. American Capital is an equity partner in management and employee buyouts; invests in debt and equity of companies led by private equity firms, and provides capital directly to private and small public companies. American Capital funds growth, acquisitions and recapitalizations.
Companies interested in learning more about American Capital's flexible financing and ability to provide senior debt, subordinated debt and equity should contact Mark Opel, Principal, at (800) 248-9340, or visit our website.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 or national economic conditions, or changes in the conditions of the industries in which American Capital has made investments.
