Fifth StreetSenior Floating Rate Corp. said April 7 that, based on thepreliminary voting results provided by its proxy solicitor, it believes that aproposal to terminateits investment advisory agreement with Fifth Street Management LLC was not approved at itsannual meeting of stockholders.
The proposal was put forth by activist investor group ofIronsides PartnersLLC, Ironsides Partners Special Situations Master Fund II LP andIronsides P Fund LP.
Fifth Street Senior Floating Rate also said that the outcomeof the election of directors is too close to call. The activist investor grouphad also nominated aslate of two director candidates, Robert Knapp and Richard Cohen, for electionat the annual meeting.
The company said it is awaiting the preliminary report ofthe independent inspector of elections, IVS Associates Inc., before releasingany further statements about the vote.