Shareholders of TICCCapital Corp. will vote on a proposal to amend the company's bylawsto implement a majority vote standard for the election of directors in uncontestedelections.
The amendment seeks to change the current plurality voting standard.
The company's shareholders will also consider a from TPG Specialty Lending Inc. to terminate the investment advisoryagreement between TICC and TICC ManagementLLC.
TPG Specialty, which is soliciting proxies, strongly urged TICCshareholders to vote in favor of both proposals. Additionally, TPGSpecialty urged shareholders to vote for the election of its nominee, , to serve as a directoruntil the 2019 annual meeting of shareholders and until a successor is duly electedand qualified.
TICC has not set the date for its annual meeting and the recorddate for determining shareholders entitled to vote at the meeting. TPG Specialtyalleged that the companyhas not set the annual meeting date so it would have more time to acquire enoughshares to counter calls for change.