FrontFour Highlights ISS Report Stating Medley Capital Shareholders "Could Reasonably Opt to Reject" Proposed Combination With Sierra Income and Medley Management
ISS States Medley Capital Shareholders Have "Limited Visibility" Into Value Being Received
ISS States Transaction Appears to Disproportionately Favor External Manager That Has Demonstrated Poor Track Record
ISS Expresses Concern That Continued Erosion of NAV Gives Shareholders "Little Confidence" as to Management's Ability to Deliver Positive Returns
FrontFour Continues to Question Management's Projections, Basis For Growth, And Ability to Raise Dividend
GREENWICH, Conn., Jan. 30, 2019 /PRNewswire/ -- FrontFour Capital Group LLC ("FrontFour"), a significant shareholder of Medley Capital Corporation ("Medley Capital") (NYSE: MCC), announced today that it has issued a letter to shareholders highlighting the significant concerns proxy advisory firm Institutional Shareholder Services (ISS) has regarding the proposed combination of Medley Capital, Sierra Income Corporation and Medley Management Inc. and reiterating its belief that there are superior alternatives to unlock value for Medley Capital shareholders.
FrontFour's letter to shareholders is available on the SEC's website and can be viewed by clicking the following link: https://mma.prnewswire.com/media/815650/FrontFour_MCC_Letter_1_30_2019.pdf
FRONTFOUR CAPITAL GROUP LLC
FrontFour Capital Group LLC, located in the United States at 35 Mason Street, Greenwich, CT 06830, was formed in December 2006. FrontFour Capital Group LLC is registered with the Securities & Exchange Commission as an investment adviser under the Investment Advisers Act of 1940, as amended.
Written materials are submitted voluntarily pursuant to Rule 14a-6(g)(1) promulgated under the Securities Exchange Act of 1934. This is not a solicitation of authority to vote your proxy. FrontFour Capital Group LLC ("FrontFour Capital") is not asking for your proxy card and will not accept proxy cards if sent. The cost of this filing is being borne entirely by FrontFour Capital.
PLEASE NOTE: FrontFour Capital is not asking for your proxy card and cannot accept your proxy card. Please DO NOT send us your proxy card.
CONTACT
Investor Contact:
David A. Lorber
FrontFour Capital Group LLC
35 Mason Street, 4th Floor
Greenwich, CT 06830
203-274-9050
SOURCE FrontFour Capital Group LLC
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