On April 13, 2022, PhenixFIN Corporation filed a definitive proxy statement soliciting proxies and urged the shareholders to vote against a shareholder proposal, requesting that the Board of Directors direct the CEO, David Lorber, to cease making any new investments, other than investments required to maintain the value of companies in the Company's existing portfolio, for as long as the discount between the closing price per share of common stock, $0.01 par value, of the Company and the last reported net asset value per share on the Company's Form 10-Q or Form 10-K filed with the Securities and Exchange Commission exceeds 5%. For as long as this remains the case, the Board shall direct the CEO to return any capital in excess of the Company's normal working capital requirements to shareholders in the most tax-efficient manner, submitted by James Clark at the Company's annual shareholders meeting scheduled to be held on May 25, 2022.