I am voting for the ability for management to issue new shares.
Why? Anything that will provide additional funds (except more debt) will help settle any outstanding debt issues faster.
BETHESDA, Md., Jan. 29 /PRNewswire-FirstCall/ — American Capital Ltd. (or “the Company”) (Nasdaq: ACAS) announced today that it is encouraging all stockholders to promptly submit their voting instructions for the special meeting of stockholders to be held on February 12, 2010. Stockholders who have not yet voted may still vote in advance of the meeting by telephone or internet, as described below.
The matter under consideration at the meeting is a proposal to authorize American Capital, with approval of its Board of Directors, to sell shares of common stock below the net asset value per share subject to certain limitations. If approved, the authorization would be effective for a twelve month period expiring on the anniversary of the date of the special meeting and the number of shares would be limited to a maximum of 58,324,930 shares of common stock, which is 20% of the number of shares outstanding as of the record date, subject to adjustment for shares issued following the occurrence of events such as stock splits, stock dividends, distributions and recapitalizations. Stockholders should review the proxy statement at www.AmericanCapital.com/2010proxymaterials for further information on this matter.
American Capital has engaged Georgeson, Inc., a proxy solicitation firm, to contact stockholders by telephone to encourage voting. Stockholders that have not already voted may receive calls prior to the meeting from Georgeson on behalf of the Company.
INSTRUCTIONS FOR PROMPT VOTING
Stockholders may cast their votes on the internet. Please have the proxy control number from the proxy card available and follow the instructions provided on the proxy.
Stockholders who wish to vote by phone may call American Capital’s proxy solicitor, Georgeson, at (866) 873-6991 to vote by phone, or to receive instructions on voting by phone.
Stockholders may also contact their brokerage firms for help with casting their votes.
Please note that voting by phone or internet will require that you have your proxy control number available. This number is printed on the proxy card accompanying the Proxy Statement. Stockholders who have not yet received their proxy control number should contact their brokerage firm.