COLUMBUS, Ohio, Feb. 28, 2013 /PRNewswire/ -- Diamond Hill
Financial Trends Fund, Inc. (NASDAQ: DHFT) today announced that, at
a Special Meeting of Shareholders held today, shareholders approved
a Plan of Liquidation and Dissolution of the Fund (the
"Plan"). The Plan is expected to take effect on or about
March 1, 2013.
Subsequent to the Plan's effectiveness, the Fund will
immediately begin to satisfactorily resolve all possible claims
pending against the Fund and/or its Board, will cease to invest
assets in accordance with its investment objective, and will as
soon as reasonable and practical complete the sale of the portfolio
securities it holds in order to convert its assets to cash.
It is currently anticipated that the liquidation will be completed
in March 2013.
In addition, in connection with the liquidation, the Fund
announced that the common shares will continue to trade the
"regular way" on NASDAQ through March 7,
2013 and will be suspended from trading before the opening
of trading on March 8, 2013.
About the Fund:
Diamond Hill Financial Trends Fund, Inc. is a diversified,
closed-end fund with $47 million in
net assets. The Fund seeks long-term capital appreciation by
typically investing between 80% and 115% of its assets long and
sell short between 0% and 25% of its assets in stocks of U.S.
financial services companies of any size.
SOURCE Diamond Hill Financial Trends Fund, Inc.