UPDATE 1-American Capital seeks OK to issue shrs under NAV

* Says significant number of portfolio cos under sale
process

* Expects to shortly enter into restructuring facility

Jan 29 (BestGrowthStock) – Debt-laden private-equity lender
American Capital Ltd (ACAS.O: ) said it was seeking shareholder
approval to sell up to 20 percent of its common shares below
the net asset value per share.

“The liquidity crisis could make it difficult for us to
continue to generate significant liquidity through sales of
portfolio investments,” it said in a proxy statement.

American Capital, which will hold a special meeting of
shareholders on Feb.12, said it has significant number of
portfolio companies in various stages of sales process.

If approved, the authorization would be effective for a
12-month period expiring on the anniversary of the date of the
special meeting and the number of shares would be limited to a
maximum of 58.3 million shares.

The company expects to shortly enter into a restructuring
of unsecured credit and debit facility, it said.

Stock Market Research Tools

(Reporting by Abhinav Sharma in Bangalore ; Editing by Jarshad
Kakkrakandy)

UPDATE 1-American Capital seeks OK to issue shrs under NAV