BlackRock Kelso Capital Corporation Announces Board Action.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- BlackRock Kelso Capital Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BKCC BKCC BlackRock Kelso Capital Corporation (stock symbol) ) ("BlackRock Kelso" or the "Company") announced today that its Board of Directors (the "Board") has adopted a policy with respect to proposal number three of the Company's 2008 definitive proxy statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. . In proposal three, the Company seeks the approval of the holders of its common stock so that it may, in one or more public or private offerings and with approval of the Board and subject to certain other conditions, sell or otherwise issue shares of its common stock at a price below its then current net asset value. If approved by stockholders, the authorization would be effective for a period expiring on the earlier of the anniversary of the date of the Company's 2008 Annual Meeting of Stockholders, which is to be held on April 24, 2008, or the date of the Company's 2009 Annual Meeting of Stockholders, which is expected to be held in May 2009. Yesterday the Board determined to limit the ability of the Company to sell common stock below net asset value, if proposal three is approved by stockholders, to circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or in which the price per share of the Company's common stock is equal to 95% or greater of the Company's net asset value per share in effect for the Company on the date any such sale is priced. If you are a BlackRock Kelso stockholder and have not yet voted or wish to change your vote, we urge you to vote by phone or through the internet using the instructions provided on your proxy ballot, or alternatively, you may vote by faxing both sides of your signed proxy ballot to PFPC PFPC Professional Financial Planning Course (Canadian Securities Institute) Inc. at 508.871.9462. Please contact PFPC Inc. at 508.871.3771 if you need a duplicate DUPLICATE. The double of anything. 2. It is usually applied to agreements, letters, receipts, and the like, when two originals are made of either of them. Each copy has the same effect. of your proxy ballot. About BlackRock Kelso Capital Corporation BlackRock Kelso Capital Corporation is a business development company formed in early 2005 by its management team, BlackRock, Inc. and principals of Kelso & Company, to provide debt and equity capital to middle-market companies. The Company's investment objective is to generate both current income and capital appreciation through debt and equity investments. The Company invests primarily in middle-market companies in the form of senior and junior secured and unsecured debt Unsecured debt Debt that does not identify specific assets that the debtholder is entitled to in case of default. securities and loans, each of which may include an equity component, and by making direct preferred, common and other equity investments in such companies. Available Information BlackRock Kelso Capital Corporation's filings with the Securities and Exchange Commission, press releases, earnings releases and other financial information are available on its website at www.blackrockkelso.com. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Statements included herein may constitute "forward looking statements." These statements are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission. The Company undertakes no duty to update any forward looking statements made herein. |
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