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Fifth Street Senior Floating Rate asks ISS to correct inaccuracies in report

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Fifth Street Senior Floating Rate asks ISS to correct inaccuracies in report

Fifth StreetSenior Floating Rate Corp. wants proxy advisory firm InstitutionalShareholder Services Inc. to correct inaccuracies in its that supports Ironsides Partners LLC's proposals, according to anamended proxy statement filed April 1.

Ironsides Partners asked Fifth Street Senior Floating Rate shareholdersto vote for the election of its director nominees, Robert Knapp and RichardCohen, to the Fifth Street Senior Floating Rate board and for the terminationof the agreement with FifthStreet Management LLC.

Fifth Street Senior Floating Rate clarified that LeonardTannenbaum, the CEO and largest shareholder of , isneither a director nor an officer of FifthStreet Finance Corp. or Fifth Street Senior Floating Rate, andthere is no commonality between the members of the Fifth Street AssetManagement board and the Fifth Street Finance and Fifth Street Senior FloatingRate boards. The company also said there are no overlapping directors, eitherindependent or interested, on the boards of the three companies.

Fifth Street Senior Floating Rate also denied changing itspeer group in its most recent proxy filing.

Fifth Street Senior Floating Rate called out ISS forallegedly showing an incorrect net asset value in its chart. The companypointed out that its net asset value as of the quarter ended June 30, 2014, was$15.13, as opposed to what was shown in the ISS chart, which was $12.65 as ofJuly 2014.

An Ironsides spokeswoman said in an email to S&P GlobalMarket Intelligence that ISS reaffirmed its recommendation for Ironsides'nominees after Fifth Street Senior Floating Rate asked the proxy advisory firmto correct its report. ISS declined to comment.