___________________________________________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 2, 2011
EQUUS TOTAL RETURN, INC.
(Exact Name of Registrant as Specified in its Charter)
Delaware | 814-00098 | 76-0345915 |
(State or Other Jurisdiction | (Commission File | (IRS Employer |
Of Incorporation) | Number) | Identification No.) |
Eight Greenway Plaza, Suite 930, Houston, Texas |
77046 |
(Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (713) 529-0900
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-k filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 2, 2011, the Board of Directors of Equus Total Return, Inc. (the “Fund”) appointed Alessandro Benedetti and John A. Hardy as the Fund’s Executive Chairman and Chief Executive Officer, respectively, effective immediately. The following is a summary of the business experience of Messrs. Benedetti and Hardy:
Mr. Benedetti, age 49, is an Italian national with decades of business experience in a diverse range of industries including telecoms, agro-industrial engineering, industrial mining, real estate, renewable and non-renewable energy and investment companies. He is fully conversant with business conditions and operating procedures in the world's key markets, especially Western and Eastern Europe, Scandinavia, CIS, Africa, North America and the Middle East.
From 2002 onward, Mr. Benedetti began structuring the acquisition of a controlling interest in Italian telecom giant WIND Telecom, and he subsequently formed a consortium to close a €17.2bn leveraged buyout in 2005, which at that time, was the largest deal of its type in Europe.
Since October 2010, Mr. Benedetti has also been a Director of Attali Investment Partners Ltd., and has served as a Director of SPQR Capital Holdings S.A. since August 2010; Non-executive director of Cadogan Petroleum plc since August 2010; Non-executive director of Versatile Systems Inc. since December 2008. Since December 2008, he has been a non-executive director of Versatile Systems Inc., which is listed on the Toronto and London Stock Exchanges.
Mr. Hardy, age 60, has served as the Fund’s Executive Chairman since June 2010. He has extensive experience in the insurance, finance and banking sectors, as well as mergers and acquisitions. Mr. Hardy practiced law as a Barrister from 1978-1997, representing, amongst others, multi-national insurance companies and financial institutions. While practicing law, Mr. Hardy was also an adjunct Professor lecturing in insurance law at the University of British Columbia from 1984-2000. For the past 13 years he has also been the Chairman and Chief Executive Officer of Versatile Systems Inc., a technology consulting company.
Item 8.01 Other Events.
On June 7, 2011, the Fund issued a press release announcing the executive officer appointments described in Item 1.01 above. The text of the press release is included as Exhibit 99.1 to this Current Report and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press release issued on June 7, 2011 by Equus Total Return, Inc.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Equus Total Return, Inc.
Date: June 7, 2011 | By: /s/ Kenneth I. Denos |
Name: Kenneth I. Denos
Secretary
Contacts:
Patricia Baronowski
Pristine Advisers, LLC
(631) 756-2486
EQUUS APPOINTS NEW EXECUTIVE OFFICERS
Alessandro Benedetti Appointed as Executive Chairman
John Hardy Appointed as Chief Executive Officer
HOUSTON, TX – June 7, 2011 – Equus Total Return, Inc. (NYSE: EQS) (“Equus” or the “Fund”) announced that its Board of Directors has appointed Alessandro Benedetti as the Fund’s Executive Chairman and John Hardy as the Fund’s Chief Executive Officer. Previous to their appointments, Mr. Benedetti was an independent member of the Fund’s Board of Directors, and Mr. Hardy was the Fund’s Executive Chairman.
Mr. Benedetti, age 49, is an Italian national with decades of business experience in a diverse range of industries including telecoms, agro-industrial engineering, mining, real estate, renewable and non-renewable energy and investment companies. He is fully conversant with business conditions and operating procedures in the world's key markets, especially Western and Eastern Europe, Scandinavia, CIS, Africa, North America and the Middle East.
From 2002 onward, Mr. Benedetti began structuring the acquisition of a controlling interest in Italian telecom giant WIND Telecom, and he subsequently formed a consortium to close a €17.2bn leveraged buyout in 2005, which at that time, was the largest deal of its type in Europe.
Since December 2008, Mr. Benedetti has been a non-executive director of Versatile Systems Inc., a technology consulting company, which is listed on the TSX Venture Exchange and the AIM market of the London Stock Exchange. Since August of 2010 he has also been a non-executive director of Cadogan Petroleum plc, which is listed on the London Stock Exchange.
Mr. Hardy, age 60, has served as the Fund’s Executive Chairman since June 2010. He has extensive experience in the insurance, finance and banking sectors, as well as mergers and acquisitions. For the past 13 years he has also been the Chairman and Chief Executive Officer of Versatile Systems Inc.
Commenting on the new appointments, Robert Knauss, non-Executive Chairman of the Fund, stated: “We are delighted with the appointments of Alessandro Benedetti as our Executive Chairman and John Hardy as our Chief Executive Officer. We believe that Mr. Benedetti’s considerable international relationships and business experience will be a substantial benefit to the Fund and its shareholders. Further, the appointment of Mr. Hardy as the Fund’s CEO is an acknowledgement of the contributions Mr. Hardy has provided and continues to provide the Fund in a senior executive capacity.”
About Equus
The Fund is a business development company that trades as a closed-end fund on the New York Stock Exchange, under the symbol "EQS".
Additional information on the Fund may be obtained from the Fund’s website at www.equuscap.com.
This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Fund’s current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, the risks and uncertainties described in the Fund’s filings with the SEC. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Fund undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Fund or any other person that the events or circumstances described in such statements are material.
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