Thoughts on the proxy delay.
I'm certainly no expert, so make your own evaluation, but from the examples below it looks like revisions to proxy forms before their final acceptance may not be unusual. What I did not expect to find was revisions to definitive proxy statements. Also notice the delay time two companies took before filing their N-54C. One of AMEP's areas of BDC non-compliance, its subsidiaries being wholly owned, may actually work to expedite its conversion to a holding company.
Another thought - I noticed the big change between Biomed Holdings' DEF 14A and DEFA14A was the addition of information relating risks to the shareholders if certain proposals did not pass. AMEP's PRE 14A has a section listing risks to shareholders if the proposal to withdraw its BDC status passes, but does not list any risks should the withdrawal proposal not pass. The latest 10-Q states "If shareholder approval is not obtained, management has serious doubts about the future of the Company as a going concern. In order to remain a BDC, the Company will have to expend significant resources to reach and maintain compliance with the extensive requirements of the 1940 Act....The impact of remaining a BDC will be more fully detailed in a forthcoming proxy statement to shareholders whereby the Company will request approval to de-elect its BDC status." While the PRE 14A does discuss the impact of remaining a BDC, it does not include any references to "...serious doubts about the future of the Company as a going concern..." if the proposal does not pass. Perhaps that was a comment the SEC made.
Access Capital Strategies Community Investment Fund, Inc.
filed PRE 14A on 2/17/06 for a special meeting on 3/28/06 (for withdrawal from BDC)
filed DEF 14A on 2/28/06 for a special meeting meeting on 3/28/06
Notification of withdrawal N-54C filed on 5/30/06
BDC Capital, Inc.
filed PRE 14A on 3/15/06 for a special meeting on 5/22/06 (for withdrawal from BDC)
filed DEF 14A on 3/29/06 for a special meeting meeting on 5/22/06
filed DEFR14A on 4/14/06 for a special meeting meeting on 5/3/06 (to be sent to shareholders on or about 4/21/06)
Notification of withdrawal N-54C filed on 9/1/06
GTREX Capital, Inc.
filed PRE 14A on 5/31/06 for an annual meeting on 6/30/06 (for withdrawal from BDC)
filed PRER14A on 8/18/06 for an annual meeting on 9/21/06
filed DEF 14A on 10/10/06 for an annual meeting on 11/15/06
Notification of withdrawal N-54C filed on 11/15/06
Biomed Holdings, Inc. (for the issuance and sale of stock)
filed PRE 14A on 8/15/06 for a special meeting on 9/27/06 (not BDC related)
filed DEF 14A on 8/25/06 for a special meeting meeting on 9/27/06
filed DEFA14A on 9/12/06 for a special meeting meeting on 9/27/06 (Definitive Additional Materials)
"If stockholders do not approve Proposal 1 and Proposal 2, we will not be....likely to have sufficient funds
to operate and protect our intellectual property and this may affect the value
of your shares.......If the common stock ceases to be listed on
the AMEX (or another trading market), then it is likely to be more difficult for
stockholders to liquidate their investment in the Company."
filed DEFA14A on 9/20/06 for a special meeting meeting on 9/27/06 (a reminder for people to vote)
Prospect Energy Corporation
filed PRE 14A on 10/6/06 for an annual meeting on 11/29/06 (proposal to authorize flexibility....to sell shares)
filed PRER14A on 10/16/06 for an annual meeting on 11/29/06
filed DEF 14A on 10/19/06 for an annual meeting on 11/29/06
filed DEFA14A on 11/30/06 for an annual meeting on 11/29/06 (meeting adjourned, no quorum, no business conducted)
filed DEFA14A on 12/18/06 for an annual meeting on 12/13/06 (meeting adjourned, no quorum, no business conducted)
AI
