Ocean Capital Sends Letter to Shareholders of UBS Puerto Rico Bond Funds Spotlighting the Need for Boardroom Change
Estimates the UBS Funds' Boards Have Collectively Spent At Least $4 Million of Shareholders' Capital to Try to Thwart Necessary Change
Highlights the Significant Decline of the Funds' Respective Net Asset Values Under the Incumbent Boards' Watch
Reiterates Unwavering Commitment to Improving Governance and Unlocking Value Across the Funds, No Matter the Cost or Time Required
Ocean Capital LLC (collectively with its affiliates, "Ocean Capital" or "we") is a significant shareholder of numerous Puerto Rico closed-end bond funds (the "Funds"), which are managed or co-managed by an affiliate of UBS Financial Services Incorporated of Puerto Rico ("UBS"). Today, Ocean Capital sent the below lett