Resource Credit Income Fund (the "Fund") has announced today that its special meeting of shareholders (with any postponements or adjournments, the "Special Meeting"), initially scheduled to be held on September 23, 2020, and previously adjourned to October 21, 2020, has been further adjourned to allow more time to gather votes on the proposals described below. Although the response to date has been overwhelmingly in favor of approving the new advisory agreement with the new adviser, the Fund has not yet received sufficient votes (whether "for", "against" or "abstain") to constitute a quorum (i.e., the minimum number of votes needed to conduct the business scheduled for the Special Meeting).
The Special Meeting will now occur on October 29, 2020 at 10:00 a.m. Eastern Time, the same time as previously scheduled. As previously communicated, the Special Meeting will be held virtually, and shareholders may access the meeting by following the instructions below. Shareholders will not be able to attend the Special Meeting in person.
As set forth in the proxy materials related to the Special Meeting, the Fund’s shareholders will be asked at the Special Meeting to consider and vote on the following proposals:
To approve a new management agreement between Sierra Crest Investment Management LLC and the Fund; and
To transact such other business as may properly come before the Special Meeting or any adjournments or postponements thereof.
Shareholders of record as of the close of business on July 17, 2020 are entitled to notice of, and to vote at, the Special Meeting.
The virtual meeting will utilize online tools that ensure shareholders have the same rights and opportunities to participate as they would have had at an in-person meeting. To participate in the Special Meeting virtual format, shareholders must contact us before October 29, 2020 at 866-617-7530 between 9:00 a.m. and 5:00 p.m. Eastern Time, Monday through Friday, to be verified and to request a virtual meeting access code. To participate in the Special Meeting, shareholders should direct their browsers to www.virtualshareholdermeeting.com/RRECIF2020SM (the "Website") and enter their unique access code. Shareholders may enter the meeting 15 minutes early or at 9:45 a.m. Eastern Time on October 29, 2020. A replay of the Special Meeting will be available at www.virtualshareholdermeeting.com/RRECIF2020SM for one year.
Whether or not a shareholder plans to attend the Special Meeting, the Fund urges shareholders to vote and authorize the shareholder’s proxy in advance of the Special Meeting by one of the methods described in the proxy statement for the Special Meeting. The proxy statement is available on the Internet at www.resourcealts.com. The proxy card included with the proxy statement previously distributed will not be updated to reflect the change in the new format of the Special Meeting and may continue to be exercised to vote a shareholder’s shares in connection with the Special Meeting.
Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Fund’s control and could cause actual results to differ from those set forth in the forward-looking statements.
An investor should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing.
About the Fund
Resource Credit Income Fund is a continuously offered, closed-end fund that periodically offers to repurchase its shares from shareholders (also known as an "interval fund").
Resource* is a wholly-owned subsidiary of C-III Capital Partners LLC, a fully integrated asset management and commercial real estate services company. Additional information about Resource is available at www.resourcealts.com.
*Resource is the marketing name for Resource Alternative Advisor, LLC and its affiliates.
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Emily Goldberg, firstname.lastname@example.org, 646-818-9095