Gladstone Capital Corporation Announces George "Chip" Stelljes III
Intention to Resign as Officer and Director
MCLEAN, Va., Nov. 28, 2012 /PRNewswire/ -- Gladstone
Capital Corporation and Gladstone Management Corporation, the
investment adviser to the Gladstone Funds (Gladstone Investment
Corporation (NASDAQ: GAIN), Gladstone Commercial Corporation
(NASDAQ: GOOD), and Gladstone Capital Corporation (NASDAQ: GLAD)),
announced today that Mr. George "Chip" Stelljes III notified the
management of the Gladstone Funds of his intention to resign as an
officer and director of each of the funds to devote his efforts to
creating and managing new investment vehicles for the Gladstone family of companies. No
effective date for the resignations have been set but the
transition should commence in the very near future.
(Logo:
http://photos.prnewswire.com/prnh/20101005/GLADSTONECAPITAL )
Mr. Stelljes currently serves as a director and an officer of
each of the Gladstone Funds. Mr. Stelljes serves as co-vice
chairman, chief investment officer and assistant secretary of
Gladstone Investment, co-vice chairman, chief investment officer
and assistant secretary of Gladstone Commercial, and president,
chief investment officer and assistant secretary of Gladstone
Capital. In April 2008, Mr.
Stelljes turned over the presidency of Gladstone Investment to the
fund's current president, David
Dullum. In June 2012, Mr.
Stelljes was succeeded as the president of Gladstone Commercial by
the current president, Robert
Cutlip. In anticipation of Mr. Stelljes resigning as
president of Gladstone Capital, management has begun a search for
his replacement.
After Mr. Stelljes steps down from the Gladstone Funds, he will
continue to perform his duties as an officer and director of
Gladstone Management. In maintaining his position at
Gladstone Management, Mr. Stelljes will primarily devote most of
his time to new initiatives but will be available to assist in the
management of the funds' portfolio companies, as needed.
Gladstone Capital Corporation is a publicly traded business
development company that invests in debt securities consisting
primarily of senior term loans, second term lien loans and senior
subordinate term loans in small and medium sized U.S. businesses.
The Company has paid 108 consecutive monthly cash distributions on
its common stock. Before the Company started paying monthly
distributions it paid eight consecutive quarterly cash
distributions. Information on the business activities of all
the Gladstone funds can be found
at www.gladstonecapital.com.
For Investor Relations inquiries related to any of the monthly
dividend paying Gladstone funds,
please visit www.gladstone.com.
SOURCE Gladstone Capital Corporation
