Today, Ocean Capital provided significant updates on its campaigns for change at nine UBS Puerto Rico closed-end funds. The U.S. District Court for the District of Puerto Rico issued an opinion and order and final judgment ordering PRITF I, PRITF VI and TFF I to seat the duly elected directors nominated by Ocean Capital. The funds have filed an “emergency motion” for stay pending appeal. Oral argument is scheduled for September 10, 2024. Ocean Capital is prepared to refute the funds’ positions on their appeal and will continue to fight for the rights of shareholders regardless of time or cost. Based on a preliminary vote count, shareholders voted to elect Ocean Capital’s nominees at TFF I’s 2024 annual meeting by a 105:1 margin. This marks the 9th Annual Meeting at which shareholders have voted to elect Ocean Capital’s nominees – yet the funds continue to ignore the lawful shareholder votes. Lastly, Ocean Capital urges Popular Asset Management and UBS to answer questions regarding Popular’s resignation as co-advisor to PRITF I. Read more: https://lnkd.in/ePrik3bx
关于我们
Ocean Capital LLC is an investment fund based in San Juan, Puerto Rico. Learn more and see disclosures at https://improveubsprfunds.com/.
- 所属行业
- 金融服务
- 规模
- 2-10 人
- 类型
- 私人持股
Ocean Capital LLC员工
动态
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Today, Ocean Capital called on Popular Asset Management, UBS and the Board of PRITF I to answer questions regarding Popular’s recent resignation as advisor. We question whether Popular saw the writing on the wall following the 2023 Annual Meeting, where approximately 4 million shares were voted in favor of terminating the management agreements with Popular and UBS. Shareholders deserve answers. ? Read more: https://bit.ly/4aqpPR9
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El Nuevo Día recently reported on the outcome of PRITF I’s 2023 Annual Meeting, in which shareholders voted to elect Ocean Capital nominee Ian McCarthy by a 36:1 margin.
Los accionistas eligieron al candidato de Ocean Capital, Ian McCarthy, para el Consejo de Administración del PRIFT I con un abrumador apoyo de 36 a favor y uno en contra https://trib.al/WHOvvCg
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Last week, PRITF I shareholders voted to elected Ocean Capital LLC's highly-qualified nominee Ian McCarthy by a 36:1 margin. They also voted overwhelmingly in support of terminating all investment advisory and management agreements with UBS Asset Managers of Puerto Rico and Popular Asset Management LLC. ? This now marks the 8th Annual Meeting (and 3rd consecutive PRITF I Annual Meeting) at which shareholders have voted to elect Ocean Capital’s nominees – yet the Funds’ entrenched directors refuse to acknowledge these fair and lawful shareholder votes. Read our latest statement: https://lnkd.in/e6KV36iC