A Message to Equus Stockholders from the
Committee to Enhance Equus
May 25, 2010 08:33 AM Eastern Daylight Time
HOUSTON--(EON: Enhanced Online News)--The Committee to Enhance Equus, collectively owning 11.4% of
the outstanding shares of Equus Total Return, Inc. (NYSE: EQS), today issued the following statement related to the
results of the Company’s Annual Meeting of stockholders:
The results of the Annual Meeting of stockholders confirm that a substantial percentage of Equus stockholders are
disappointed by the 65% decline in the company’s stock price. We are deeply grateful that Equus stockholders took
an active interest in the proxy contest and that our slate of highly qualified nominees received approximately 39% of
the total votes cast at the annual meeting. This represents a significant voice that cannot be ignored.
The election results were very close. The incumbent board spent an extraordinary amount of shareholder money to
entrench themselves and elect four directors from Versatile/Mobiquity to represent its 9.28% stake in the Company.
We also believe that the Company conducted the meeting in a manner intended to discourage personal attendance
and voting by shareholders. We are particularly troubled by the Company’s refusal to count the votes cast in favor of
our slate by a registered holder of 257,600 shares who was improperly denied access to the meeting until after the
polls were closed. If this stockholder had been permitted to attend the meeting and cast his vote in favor of our slate,
as he desired, we would have received approximately 42% of the total votes cast. Despite these concerns about the
integrity of the process, we have concluded that further contest of the 2010 board election is not in the best interests
of the Company or its shareholders.
As the returning incumbent directors and the four new Versatile/Mobiquity directors begin their one year terms as
directors of Equus, we ask that all Equus stockholders continue to actively monitor the actions of the board an