BALTIMORE, Md., Dec. 11,
2014 /PRNewswire/ -- The Board of Directors of Adams Express
(NYSE:ADX) voted today to extend the Fund's share repurchase
program and has authorized the Fund to repurchase up to 5% of its
outstanding shares of common stock (approximately 4,667,000
shares). Such repurchases may be made in the open market from time
to time, as determined by the portfolio management team, when
market conditions and portfolio management considerations warrant
and the shares are trading at a discount of at least 10% from net
asset value (NAV).
The Fund's repurchase program is implemented on a
discretionary basis under the direction of its portfolio management
team. There can be no assurance that shares will be repurchased in
any given amount going forward and repurchases may be discontinued
at any time.
Shares of closed-end funds often trade at a discount from
their NAV. The market price of a closed-end fund's shares can be
affected by factors such as changing perceptions about the fund,
market conditions, fluctuations in supply and demand for fund
shares, changes in fund distributions, and other factors. Past
performance is no guarantee of future investment results and your
shares, if sold, may be worth more or less than their original
cost.
The Adams Express Company is a Baltimore-based closed-end fund that has been
operating as an investment company since 1929. Its stock trades on
the New York Stock Exchange under the symbol ADX.
For further information, contact:
Lawrence L. Hooper, Jr., Vice
President, General Counsel & Secretary
at (410) 752-5900 or (800) 638-2479
e-mail: contact@adamsexpress.com
Website: www.adamsexpress.com
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SOURCE Adams Express Company