{"id":385684,"date":"2020-11-19T16:58:19","date_gmt":"2020-11-19T21:58:19","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=385684"},"modified":"2020-11-19T16:58:19","modified_gmt":"2020-11-19T21:58:19","slug":"apollo-senior-floating-rate-fund-inc-and-apollo-tactical-income-fund-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/apollo-senior-floating-rate-fund-inc-and-apollo-tactical-income-fund-inc\/","title":{"rendered":"Apollo Senior Floating Rate Fund Inc. and Apollo Tactical Income Fund Inc."},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">NEW YORK, Nov.  19, 2020  (GLOBE NEWSWIRE) &#8212; (NYSE: AFT) &#8211; Apollo Senior Floating Rate Fund Inc. and (NYSE: AIF) &#8211; Apollo Tactical Income Fund Inc. (the \u201cFunds\u201d) announced today that the Board of each Fund has elected that each Fund be subject to the Maryland Control Share Acquisition Act (the \u201cMCSAA\u201d), effective immediately. Each Board believes that electing to be subject to the MCSAA protects the interests of the Funds and their stockholders. The objective of the MCSAA is to protect the interests of all stockholders of a Maryland corporation. Maryland lawmakers instituted the MCSAA to limit the ability of any single stockholder to exert undue influence in pursuit of short-term gains at the expense of long-term value for fund stockholders and a fund\u2019s ability to achieve its investment objective.<\/p>\n<p align=\"justify\">The election to become subject to the MCSAA limits the ability of holders of \u201ccontrol shares\u201d to vote those shares above various threshold levels that start at 10% unless the other stockholders of a Fund reinstate or approve those voting rights at a meeting of stockholders as provided in the MCSAA. The bylaws for each Fund provide that the provisions of the MCSAA do not apply to the voting rights of the holders of any shares of preferred stock of the Fund (but only with respect to such preferred stock).<\/p>\n<p align=\"justify\">The above description of the MCSAA is only a high-level summary and does not purport to be complete. Investors should refer to the actual provisions of the MCSAA and each Fund\u2019s bylaws for more information, including definitions of key terms, various exclusions and exemptions from the statute\u2019s scope, and the procedures by which stockholders may approve the reinstatement of voting rights to holders of \u201ccontrol shares.\u201d<\/p>\n<p align=\"justify\">An investment in a Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate. Any commentary provided in this press release is for informational purposes only.<\/p>\n<p align=\"justify\">\n        <strong>Apollo Contact Information:<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <em>Product Literature<\/em><br \/>\n        <br \/>877-864-4834<\/p>\n<p align=\"justify\">\n        <em>Investors<\/em><br \/>\n        <br \/>Peter Mintzberg<br \/>Head of Investor Relations<br \/>Apollo Global Management, Inc.<br \/>212-822-0538<br \/>pmintzberg@apollo.com<\/p>\n<p align=\"justify\">\n        <strong>Forward-Looking Statements<br \/><\/strong>This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission in its rules, regulations and releases. These statements include, but are not limited to, discussions related to the Fund\u2019s expectations regarding the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis. These forward-looking statements are based on management\u2019s beliefs, as well as assumptions made by, and information currently available to, management. When used in this release, the words \u201cbelieve,\u201d \u201canticipate,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cintend\u201d and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to our dependence on certain key personnel, our ability to raise new Private Equity or Capital Markets funds, market conditions, generally, our ability to manage our rapid growth, fund performance, changes in our regulatory environment and tax status, the variability of our revenue, net income and cash flow, our use of leverage to finance our businesses and investments by our funds and litigation risks, among others.<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4OTU3MyMzODM2NzUyIzIxMjUyMDk=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/e5695dc8-9283-42e5-8f6e-1e9ab0343a95\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, Nov. 19, 2020 (GLOBE NEWSWIRE) &#8212; (NYSE: AFT) &#8211; Apollo Senior Floating Rate Fund Inc. and (NYSE: AIF) &#8211; Apollo Tactical Income Fund Inc. (the \u201cFunds\u201d) announced today that the Board of each Fund has elected that each Fund be subject to the Maryland Control Share Acquisition Act (the \u201cMCSAA\u201d), effective immediately. Each Board believes that electing to be subject to the MCSAA protects the interests of the Funds and their stockholders. The objective of the MCSAA is to protect the interests of all stockholders of a Maryland corporation. Maryland lawmakers instituted the MCSAA to limit the ability of any single stockholder to exert undue influence in pursuit of short-term gains at the expense of long-term value for &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/apollo-senior-floating-rate-fund-inc-and-apollo-tactical-income-fund-inc\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Apollo Senior Floating Rate Fund Inc. and Apollo Tactical Income Fund Inc.&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-385684","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Apollo Senior Floating Rate Fund Inc. and Apollo Tactical Income Fund Inc. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/apollo-senior-floating-rate-fund-inc-and-apollo-tactical-income-fund-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apollo Senior Floating Rate Fund Inc. and Apollo Tactical Income Fund Inc. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, Nov. 19, 2020 (GLOBE NEWSWIRE) &#8212; (NYSE: AFT) &#8211; Apollo Senior Floating Rate Fund Inc. and (NYSE: AIF) &#8211; Apollo Tactical Income Fund Inc. (the \u201cFunds\u201d) announced today that the Board of each Fund has elected that each Fund be subject to the Maryland Control Share Acquisition Act (the \u201cMCSAA\u201d), effective immediately. Each Board believes that electing to be subject to the MCSAA protects the interests of the Funds and their stockholders. The objective of the MCSAA is to protect the interests of all stockholders of a Maryland corporation. Maryland lawmakers instituted the MCSAA to limit the ability of any single stockholder to exert undue influence in pursuit of short-term gains at the expense of long-term value for &hellip; Continue reading &quot;Apollo Senior Floating Rate Fund Inc. and Apollo Tactical Income Fund Inc.&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/apollo-senior-floating-rate-fund-inc-and-apollo-tactical-income-fund-inc\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-19T21:58:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4OTU3MyMzODM2NzUyIzIxMjUyMDk=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/apollo-senior-floating-rate-fund-inc-and-apollo-tactical-income-fund-inc\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/apollo-senior-floating-rate-fund-inc-and-apollo-tactical-income-fund-inc\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Apollo Senior Floating Rate Fund Inc. and Apollo Tactical Income Fund Inc.\",\"datePublished\":\"2020-11-19T21:58:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/apollo-senior-floating-rate-fund-inc-and-apollo-tactical-income-fund-inc\\\/\"},\"wordCount\":574,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/apollo-senior-floating-rate-fund-inc-and-apollo-tactical-income-fund-inc\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA4OTU3MyMzODM2NzUyIzIxMjUyMDk=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/apollo-senior-floating-rate-fund-inc-and-apollo-tactical-income-fund-inc\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/apollo-senior-floating-rate-fund-inc-and-apollo-tactical-income-fund-inc\\\/\",\"name\":\"Apollo Senior Floating Rate Fund Inc. and Apollo Tactical Income Fund Inc. - 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(the \u201cFunds\u201d) announced today that the Board of each Fund has elected that each Fund be subject to the Maryland Control Share Acquisition Act (the \u201cMCSAA\u201d), effective immediately. Each Board believes that electing to be subject to the MCSAA protects the interests of the Funds and their stockholders. The objective of the MCSAA is to protect the interests of all stockholders of a Maryland corporation. 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