Proxy advisory firm Institutional Shareholder Services Inc.has recommended that Fifth StreetSenior Floating Rate Corp. stockholders vote for the election ofRobert Knapp and Richard Cohen to the company's board at its April 7 annualmeeting, Ironsides Partners LLCand its affiliates said March 31.
Ironsides Partners and its affiliates have a combined ownershipinterest of approximately 6.4% of Fifth Street Senior Floating Rate'soutstanding shares. The activist investor has been stockholders to vote for itsproposals.
ISS also recommended that stockholders vote for thetermination of Fifth Street Senior Floating Rate's investment advisoryagreement with its external manager, FifthStreet Management LLC.
Ironsides Partners has urged all stockholders to vote thegreen proxy card for the election of its director nominees and for thetermination of the agreement with Fifth Street Management.
Fifth Street Senior Floating Rate has asked its stockholdersto vote against theproposal to terminate the advisory agreement.