Gladstone Investment Corporation (GAIN) Earnings Call Transcript & Summary

Ladies and gentlemen, thank you for standing by, and welcome to the Gladstone Investment Corporation Annual Meeting. [Operator Instructions] I would now like to hand the conference over to Mr. LiCalsi. Thank you. Please go ahead, sir.

Thank you very much. This is the Gladstone Investment Annual Stockholders Meeting. My name is Michael LiCalsi, I'm the Secretary and General Counsel of the company. With me, I have Erich Hellmold, our Assistant General Counsel; and Julia Ryan, our Chief Financial Officer and Treasurer. It is now 11:02, and the meeting will now officially come to order. We'll proceed with the business of the meeting as set forth in your notice of annual proxy. Erich Hellmold will be the secretary of the meeting. And will the secretary please report the mailing of the notice of the Annual Meeting of Stockholders and the stockholders list, please?

I have here a complete list of the stockholders of record of the company's common stock on June 8, 2020, the record date for this meeting. I also have an affidavit certifying that on June 16, 2020, a notice of annual meeting of stockholders of the company was mailed to all stockholders of record at the close of business on June 8, 2020. That is the end of my report.

Thank you, Erich. Myself and Erich have been appointed as the inspectors of election at the meeting. And Broadridge has tabulated the votes, and the inspectors and their staff have been in close contact with the representatives of Broadridge and our solicitor, Georgeson, to get the vote tally in. The inspectors have also taken and subscribed the customary oath of office to impartially execute their duties. We'll file this oath with the records of the meeting. And their function is simply to decide upon the qualifications of voters, accept their votes and at the end of balloting, to tally the final votes. And will the secretary please report this time with respect to the existence of a quorum?

Proxies have been received for 48.14% of the 33,191,344 shares of common stock outstanding on the record date and for 44.34% of the 5,329,731 shares of preferred stock outstanding on the record date. The total number of common and preferred shares is 38,521,075 shares. Thus, the presence of 19,206,538 shares shall constitute a quorum for the meeting. A total of 18,343,865 shares are present in person or by proxy, which is less than the number needed to constitute a quorum. So that we may take such action as necessary to obtain a quorum, this meeting is adjourned until [ August 20, 2020 ] at 11:00 a.m. whereupon it will be reconvened also as a virtual meeting. A live webcast of the reconvened meeting will also be available at www.virtualshareholdermeeting.com/GAIN2020. This will conclude the business of today's annual meeting. The time is 11:05 am.

And this concludes today's conference call. Thank you for participating. You may now disconnect.