Adams Diversified Equity Fund Announces Voting Results From 2015 Annual Meeting; Stockholder Proposal For Self-Tender Offer I...

BALTIMORE, May 5, 2015 /PRNewswire/ -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) previously named The Adams Express Company, announced today the voting results from its annual meeting of stockholders in Charleston, SC, on April 30. The stockholders voted in agreement with the recommendations of the Board of Directors on all of the five proposals at the meeting.

All of the Fund's incumbent Directors were reelected and stockholders also approved an amendment to the Fund's fundamental investment policy on investments in commodities or commodities contracts, approved the Fund's providing investment advisory services to outside accounts, and ratified the selection of PricewaterhouseCoopers LLP as the Fund's independent registered public accounting firm for 2015.

In addition, a stockholder proposal recommending that the Board of Directors consider causing the Fund to conduct a self-tender offer for all of its outstanding shares was overwhelmingly defeated.  The Fund voluntarily put the stockholder proposal to a vote after the stockholder who submitted the proposal failed to appear at the meeting to present it.  Of the votes cast on the proposal, 74% voted against it and 23% (representing only 13% of the Fund's outstanding shares) voted for it.

Adams Diversified Equity Fund, Inc. is a Baltimore-based closed-end investment company.  It trades on the New York Stock Exchange under the ticker symbol ADX.

For further information please contact:

Lawrence L. Hooper, Jr., Vice President, General Counsel & Secretary 
410-752-5900 or 800-638-2479

E-mail: [e-mail] 
Website: www.adamsfunds.com  

For your convenience, all press releases are posted to our website.  If you would like to receive future press releases by fax or e-mail, please let us know.         

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/adams-diversified-equity-fund-announces-voting-results-from-2015-annual-meeting-stockholder-proposal-for-self-tender-offer-is-defeated-300078081.html

SOURCE Adams Diversified Equity Fund, Inc.

Copyright 2015 PR Newswire